The coronavirus outbreak has changed our everyday lives, everything that made us feel safe in today’s world has been shaken. From China, the United States to thousands of infected people in Europe, the virus has spread all over the world. We can safely say that the reaction on the financial and stock markets was catastrophic. The main indices collapsed in an extremely fast and dangerous manner, comparable to the 2008 recession. The pandemic has a huge impact on global markets, and thus does not ignore the cryptocurrency market. In the first half of March, the cryptocurrency market collapsed. In less than a month the market lost a significant part of its capital, USD 150 billion was liquefied. The largest digital currencies such as Bitcoin lost 50% of value. Needless to say, Bitcoin was not the only one cryptocurrency, which has lost a significant portion of its capitalization. Next were altcoiny such as: Ethereum, Tezos, Chainlink, litecoin, Binance Coin – all have lost half or more of their price.
We can safely say, however, that a light appears in the tunnel. Many cryptocurrency professionals believe that the crisis in the digital currency markets can create new opportunities. It is true that prices are significantly reduced than it was a month ago. However, it is worth noting that rates have stabilized at this point, and after the coronavirus crisis is over, the market can recover significantly if they do exist kryptowalutythat can become attractive to potential investors.
Binance Coin (BNB)
Almost everyone who is interested in trading cryptocurrency has heard about Binance. This is one of the largest cryptocurrency exchanges that enjoys great confidence.
Going further, Binance Futures is seeing huge and continuous volumes growth in turnover, and is also on its way to operating the cryptocurrency derivatives market. As native cryptocurrency. Binance Coin will probably be among those who have a very bright long-term future.
From a technical point of view, BNB works stably against Bitcoin. It fell sharply during the biggest sales last week, but managed to regain stability and reaches a steady value of around 0.002 BTC. This can provide a stable basis for a price increase when it passes coronavirus crisis.
The highest BNB record was in June 2019, when it reached about USD 38. In 2020, it peaked at around USD 26, but the crisis caused its price to fall below USD 10.
WRX is the native cryptocurrency of the WazirX currency digitizer exchange. In February this year, the IEO project was created on the Binance Launchpad platform and it was the first collection that brought a significant return on investment of 600% ROI.
It should be noted that WazirX is advertised as the most trusted Bitcoin exchange in India. India is one of the most populous countries in the world. Recently, the country’s Supreme Court lifted the ban on cryptocurrency trading, which can have a huge impact on projects from India, such as WRX.
WRX has achieved ATH March 7 this year, reaching USD 0.21. Last week it fell sharply, losing about 50% of its value, currently it costs around 0.09 USD. It is worth noting, however, that its price has remained stable over the past few days.
In mid-March, Binance and WazirX announced the creation of a new $ 50 million fund that will help further introduce cryptocurrencies in India. Another known stock exchange digital assets – Kraken – also plans to make investments in this country.
Needless to say, Ethereum is the second largest cryptocurrency in years and for good reason. This is the largest decentralized creation network smart contracts and decentralized applications (DApps). Although competition is growing rapidly, Ethereum remains a leader in terms of the active number of DApps.
This year Ethereum is planning a significant update – Ethereum 2.0. This will transition the network from the current consensus algorithm Proof-of-Work (PoW) on Proof-of-Stake (PoS), which should increase its capabilities and performance.
ETH has not been left untouched by recent declines. After reaching a record level of around USD 1,400 in December 2018, it reached a peak just below USD 300 in 2020. At the date of publication, the price of one ETH is 157 USD on the investment platform Plus500 trading maid kryptowalutami. Which shows that there is still a lot of room for rising prices for this cryptocurrency.
Tezos was altcoin, which scored the highest increases in 2020, up to a sudden decline caused by the crisis. For many investors sudden fall may be seen as a rare opportunity to buy XTZ. From the beginning of the year when course Tezos was around USD 1.3, a month ago its rate was just below USD 4.
The last fall caused the price to return to where it started. Currently, XTZ costs around USD 1.9. However, he managed to maintain the 10th position in terms of the largest capitalization and has a solid foundation.
Tezos activated Carthage this month – this is the third protocol update. This should allow new users to implement more smart counters, further expanding the possibilities of the network. When the coronavirus crisis disappears, there is a good chance that the price of XTZ will go up at full speed.