Cryptocurrencies To Watch: Week of March 20

Keep an eye on these coins

He cryptocurrency The market experienced a surge in value over the last week, after a long and difficult period. The current turmoil in the banking sector appears to have given a boost to the cryptocurrency market, especially Bitcoin, as some investors turn to digital assets for diversification.

This week, we take a look at Bitcoin (BTC), Conflux (CFX), Mask Network (MASK), Fantom (FTM), and Neo (NEO). In selecting these assets, we have considered several factors, including positive technical developments, important news, and notable price changes.

key takeaways

  • The Bitcoin (BTC) price advanced by around 25% on the back of several disturbing incidents in the global economy and banking sector.
  • Conflux (CFX) price rose 125%, possibly in reaction to integrations with major Chinese companies.
  • The Mask Network (MASK) price surged more than 80% as large and influential investors began hoarding the token and crypto exchange Binance added it to its proof-of-reserve system.
  • Fantom (FTM) price gained more than 24% amid a mainnet upgrade.
  • The price of the NEO token (NEO) increased by more than 20%, possibly due to its growing presence in China, as well as the fact that Hong Kong is embracing cryptocurrency trading.

Bitcoin (BTC)

bitcoin (BTC) jumped in the last week, increasing by about 25%. The cryptocurrency has finally surpassed its recent endurance levels, that is, the price zone in which the digital asset has had trouble breaking out in technical analysis.

The driver of this surge could be turbulent global economic conditions. Historically, investors flocked to Bitcoin when there have been worrisome events in traditional markets. He bankruptcy of several banksinflation rates and dollar liquidity decisions by the US Federal Reserve may have contributed to Bitcoin's price rise.

BTC is hovering around $28,067 after trading around $22,450 last week (see chart below).

BTC Price: TradingView

Conflux (CFX)

conflux (CFX) was the biggest gainer this week, with the CFX token more than doubling in price and crossing the $1 billion market cap figure. There are several possible factors fueling the price increase, one of which is the project's integration with the Chinese version of Instagram, Xiaohongshu. The project also announced the release of SIM cards using the Conflux Network technology. block chain support in collaboration with China Telecom.

Conflux is a blockchain network that offers fast transaction processing for anything from non-fungible tokens (NFTs) to cryptocurrency wallets. CFX started last week at around 19 cents and is now priced around 43 cents (see chart below).

CFX Price: TradingView

Network mask (MASK)

The Mask Network MASK token (FACE MASK) was another big gainer in the last week, rising by more than 80%. The jump may be tied to large buyer trades, known as Whales in cryptographic terminology, and the fact that the crypto exchange Binance added the asset to your reservation voucher system along with 10 other tokens.

The purchase of large sums of MASK by crypto whales has in turn attracted a larger number of smaller buyers. The proof of reserves is a transparent document auditing practice for crypto companies like Binance that provides an unbiased report of companies' assets held in reserve. MASK is now hovering around $5.80 after being priced around $3.20 last week (see chart below).

MASK Price: TradingView

Ghost (FTM)

Ghost (FTM) The coin increased by over 24%, likely due to a mainnet upgrade and possibly in line with the fact that the project offers some of the lowest transaction fees on the market. Mainnet is used to describe the point at which a blockchain protocol is fully developed and implemented, with cryptographic transactions being transmitted, verified, and recorded on a distributed ledger. The Fantom upgrade allows your network to process certain files and logs more quickly.

The latest Fantom update also speeds up block processing times by 30%. That metric determines how quickly each block of transactions is completed. FTM is now valued at around 48 cents after trading last week at 39 cents (see chart below).

FTM Price: TradingView

Neo (NEO)

NEO (neoThe ) coin increased in price by about 20%, possibly because cryptocurrencies with a presence in China are experiencing a resurgence, according to a cryptanalyst on Twitter. The fact that Hong Kong, since the end of 2022, has taken a more friendly stance towards crypto trading it can be another reason for the token gain.

NEO is a general-purpose crypto network and ecosystem that offers features such as decentralized storage, smart contract functionality and decentralized applications, known as dApps. NEO is now valued at around $12.65, but was trading around $10.70 last week (see chart below).

NEO Price: TradingView

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