The crypto market has come under pressure in the past few months, with Bitcoin and most altcoins falling by double digits.
The market capitalisation of all coins has dropped to $2.38 trillion from last year’s peak of over $4.3 trillion.
This article explores some of the top cryptos to watch this month, including Pi Network (PI), Cardano (ADA), Hyperliquid (HYPE), and Solana (SOL).
Pi Network price has some major catalysts in March
Pi Network price did relatively well in February as it soared by double digits from its all-time low. It did better than other top coins like Solana, XRP, and Bitcoin.
Pi Network has a few confirmed and potential catalysts. For example, the price will react to the potential Kraken listing, which may happen as early as March.
Kraken, a top American crypto exchange, has added it to its listing roadmap for the year. As such, this listing may happen as soon as this month.
Pi Network price will also react to the upcoming validator rewards distribution, which will happen in the final week of the month.
Also, the developers recently unveiled new AI tools to supercharge the KYC process, meaning that the process may continue this month.
They are also considering launching a KYC-as-a-Service, a product that will rival popular platforms like Humanity Protocol and Worldcoin.
Pi Network price will also react to the ongoing upgrade from v19 of Stellar Consensus to v23.
Three stages of the upgrade have already completed, with the next ones expected to happen later this month.
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Cardano price to react to the Midnight mainnet launch
Cardano’s price has crashed in the past few months and was trading at $0.2733 on Tuesday. It has dropped by over 76% from its highest level last year.
Cardano token will be in the spotlight this month as the developers will launch the Midnight mainnet in the last week of the month.
Midnight is Cardano’s privacy-focused sidechain, which leverages zero-knowledge (ZK) proofs technology.
It will make it possible for developers to build quality apps that focus on privacy.
Midnight has also focused on collaborations ahead of the mainnet launch. For example, its validators are top companies like Google, MoneyGram, Telegram, Vodafone, and BlockDaemon.
It has also attracted some of the top creators in the crypto industry, like Sundae Labs, Fluid Tokens, and OpenZeppelin.
NIGHT, its token, has a market capitalisation of over $800 million.
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Hyperliquid in focus as volume, open interest rise
HYPE price has done well in the past few weeks, soaring from the February low of $20.5 to the current $33.
This rally happened as the platform regained market share in the perpetual futures industry.
Data shows that the reported volume in the last 30 days jumped to $214 billion, higher than what Aster and Lighter handled, combined. Its open interest has also continued rising in the past few months.
For example, Hyperliquid recorded higher volume last weekend as it became the most popular venue for trading crude oil as the war in Iran escalated.
Hyperliquid will be in the spotlight this month as market participants watch its growing market share, which has led to more token burns and buybacks.
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Solana price to react to potential Alpenglow upgrade
Solana price has crashed sharply in the past few months, mirroring the performance of other cryptocurrencies.
The retreat has happened despite it having some of the best fundamentals, including the rising market share in the crypto industry.
For example, the number of transactions, the fee collected, and active addresses have soared in the past few months.
It made over $24 million in fees in the last 30 days as active addresses rose to over 114 million.
Solana price will likely react to the potential launch of the Alpenglow upgrade, which will supercharge its performance.
For example, it will transform its technology by introducing the rotor and votor technologies and boost its network speed.
The upgrade date has not been confirmed yet, so it may not happen this month.
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