March 2021 in numbers: new coins broke into the top 10, Bitcoin closed the best quarter in eight years

In the first half of March, Bitcoin restored the positions lost in February, and then established a new historical maximum at $ 61,800, after which the correction followed $ 50,360.

As a result of a month, bitcoin grew by 35%. The first quarter was one of the most successful since 2014 – the profitability for the first three months of 2021 exceeded 100%.

A similar speaker was also observed in the second ethereum cryptocurrency capitalization. After correction at the end of February, the price of ETH increased by 50%, reaching March 13 $ 1943. By the end of the month, the quotes were adjusted to $ 1550, but the profitability of Ethereum was 34% after March.

In March, noticeable changes took place in the top 10 assets on market capitalization:

• On the eighth line, the Uniswap decentralized exchange token was fixed by the UNI decentralized exchange ($ 15 billion). His rate reached a maximum at $ 36 (+25% per March);
• A more impressive dynamics was shown by the Fil FilCoin data storage token token, which grew by 430% and set a new maximum at $ 237;
• For some time in the first ten, the TETA TOKEN TETA TETA NETWORK. During March, his rate increased by 290%, setting a maximum of $ 15.

Market moods and correlations

• In early March, the index of fear and greed grew to marks above 70. For most of the month, the indicator was in relative calm, almost without demonstrating sharp jumps to extremes.
• In March, the correlation of the first cryptocurrency and s&P 500 remained at a relatively high level – 0.26. The statistical relationship between the prices of bitcoin and gold was practically absent (0.01). Bitcoin behaved like a risky, not a protective asset.
• Traditionally, digital gold was most closely correlated with other cryptoactures, including Litecoin and Ethereum – 0.83 and 0.73, respectively.

The volume of trading

In March, the volume of trading on the spot exchanges again amounted to $ 1.32 trillion. Asian platforms were again in the top – Binance accounted for $ 757 billion, Huobi – $ 210 billion, OKEX – $ 173 billion. The American exchange of Coinbase generated a volume of $ 87 billion.

Futures and options

• In March, the combined bitcoin trade volume amounted to a record $ 2.15 trillion, $ 720 billion of which fell on Binance.
• Open interest in March first approached $ 23 billion.
• A similar situation was observed in the options market – the total volume of trading contracts based on bitcoin reached a record $ 28.5 billion. Of these, $ 26.7 billion fell on the Deribit exchange.

Defi

• The growth rate of the Defi-transist based on Ethereum remained low. The total volume of funds blocked on smart contracts (TVL) did not reach the February maximum at $ 45 billion. The probable reason for slowing down the growth of the sector is high commissions that repel retail investors. The latter are increasingly prefer alternative Defi-transes systems-Binance Smart Chain (BSC) and Huobi Eco Chain.
• The three leaders remained unchanged-landing Ethereum projects Maker, Aave and Compound.

• The largest segments of the Defi Ecosystem based on Ethereum is lending (46%) and decentralized exchanges (39%).
• In March, a significant increase was demonstrated by Terra project tokene – 186%. Its capitalization reached $ 7.5 billion (March 1, this figure was $ 2.7 billion). Pancakeswap and 0x dex protocol assets also increased significantly-47% and 45.9%, respectively.

• The total market value of tokenized bitcoins approached $ 11 billion.
• The permanent leader of the segment has strengthened the position – Wrapped Bitcoin (WBTC). Its capitalization exceeded $ 8 billion.

• The total TVL projects based on Binance Smart Chain grew by 107%, overcoming a border of $ 19 billion. Ellipsis Finance replaced the Autofarm project from the third line of the rating. TVL of the new project has already exceeded $ 2 billion.
• The total TVL projects based on Huobi Eco Chain reached $ 7.5 billion.

• In March, the volume of trading on decentralized exchanges reached $ 61.1 billion – the second largest indicator in 2021 and in general.
• Uniswap remains the absolute leader in the Ethereum Tirzh segment-last month the platform turnover amounted to $ 37.1 billion.
• The market share of Uniswap for a month increased from 46.5% to 74.3%. Probably, the indicator has positively reflected the announcement of the third version of the protocol.
• The three leaders included Sushiswap with a monthly turnover of $ 9.1 billion, as well as Curve with $ 5.2 billion.

• The volume of bids of non -replaced tokens (NFT) set a new record. Nine leading market players accounted for more than $ 600 million.
• In the section of platforms, NBA TOPSHOTS ($ 196.3 million), Nifty Gateway ($ 140.8 million) and OpensEA ($ 137.1 million) are the leaders.

Stebblecoins

• The capitalization of stablecoins in March for the first time exceeded $ 60 billion, since the beginning of the year the indicator has grown by 100%.
• The host of the USDT Steabelcoin from Tether overcame the line of $ 40 billion ($ 42.4 billion as of April 1). Cetenter’s second most popular CENTRE “Stable Coin” has exceeded $ 10 billion.

P2P trade

The volume of trading on the Localbitcoins P2P platform in March reached the minimum values ​​in 2021 in dollar terms. The total volume of Bitcoin transactions has been updated by the anti -record since 2013.

Another situation is observed on the competing Paxful platform. In March, Bitcoin trading volume began to recover from the February minimum. In dollar terms, the turnover exceeded the average values ​​of 2020-2021.

Mining, hashrate, commissions

• Bitcoin and Ethereum Mainers revenue in March updated maximums.
• The miners mining digital gold received $ 1.74 billion, the bulk of the income was awards for the produced blocks ($ 1.57 billion).
• Ethereum Mainers obtained a cryptocurrency for $ 1.37 billion, only 1% surpassing the February indicator. The commissions in their income amounted to 47%.

• In March, the Heshrait growth continued against the background of the Bitcoin price movement to new heights.
• TOP-5 of the largest pools for digital gold: F2Pool, Poolin, Antpool, BTC.COM and BINANCE POOL.

• The Ethereum hashReum is also significantly increased in March – by 15%. Since the beginning of the year, the indicator has increased by 63%.
• For Ethereum, the problem of high transaction commissions is still relevant, the average indicator of which often exceeds the values ​​of bitcoin. The upcoming activation of the EIP-1559 and the implementation of the second-level solution of the Optimism UNISWAP exchange are designed to reduce the volatility of gas price and the load on the Ethereum blockchain.

In mid -March, against the background of bitcoin to marks above $ 60,000, the shares of mining companies went to growth:

• Canaan – March 12, quotes of securities of the company established a historical maximum at $ 39.10. The month ended with an increase of 17%
• Ebang International Holdings Inc. – There was a sharp surge in the price of shares, but without updating the maximum. As a result of March, shares increased by 5%
• Riot Blockchain Inc. – moderate increase in the market value of shares with a profitability of 8% for the results of the month.

At the same time, the profitability of shares on the annual segment was ahead of Bitcoin five times.

Onchain-data

• The number of addresses with 1000 BTC and more sharply decreased against the background of bitcoin growth to marks above $ 60,000. This may indicate fixing with whales of profit from long -term investments in cryptocurrency.
• The number of addresses of retail market participants (≥ 0.01 BTC), on the contrary, continued growth. This may indicate the replenishment of the industry with new participants.

Against the background of bitcoin growth, a tendency to reduce the balance of centralized exchanges resumed new heights. It can also indicate the desire of investors to fix profit, as well as withdraw funds to much safer cold wallets.

• Despite the slowdown in the activity in the Ethereum-segment of Defi, the volume of transactions with ETH in March grew by 14%.
• Onchain Activity in Zhao will prove the BSC ecosystem is still much higher than that of Ethereum. The main driver of transaction demand is retail users who prefer low decentralization commissions.

The activity of large players

Grayscale

GRAYSCALE Bitcoin Grand Protecting Prize for GBTC GRAYSCALE was negative throughout March, against which the company suspended the reception of investments, and the Digital Currency Group (DCG) Barry Silbert announced his readiness to buy a promotion in an amount of up to $ 250 million.

The total amount of assets running Grayscale reached a new maximum at $ 45 billion. The company launched five new trusts based on altcoins Basic Attend Token, Chainlink, Decentraland, Filecoin and Liveper.

Microstrategy

On March 1, the company additionally purchased 328 BTC at an average price of $ 45,710. On March 12, the company announced the purchase of another 262 BTC in the amount of about $ 15 million. As of April 1, Microstrategy owns 91,326 BTC in the amount of $ 2.2 billion.

ETF on the horizon

Four companies immediately submitted applications for launching funds traded on the exchange (ETF) on the basis of bitcoin in March. Among them are the Chicago Exchange Exchange (CBOE), which also allowed the resumption of bitcoin trade tenders. Among other companies are the Canadian Evolve Funds, based in New York Simplify Exchange Tradeed Funds and the WisdomTree asset controls.

Large venture rounds

In the first quarter of 2021, cryptocurrency companies, according to CB Insights, attracted $ 2.6 billion, and the number of transactions was 129. For the entire 2020, industry players attracted $ 2.3 billion in the framework of 341 transactions. Here are the main venture rounds of Marta:

• Blockfi landing platform attracted $ 350 million investments when estimated at $ 3 billion.
• Blockchain COM Supplier has attracted $ 300 million. The company was estimated by $ 5.2 billion
• New York Digital Investment Group (Nydig), oriented on large players, attracted $ 200 million.
• Fireblocks Castodian -oriented investors attracted $ 133 million.
• The analytical company Chainalysis attracted $ 100 million, its estimate exceeded $ 2 billion.
• Starkware, developer for scaling Ethereum, attracted $ 75 million.
• Soros’s family office invested in the supplier of cryptodata Lukka in the round at $ 53 million.
• Avanti Kaitlin Long attracted $ 37 million before launching a cryptocurrency bank.

Key events in the regions

• The authorities of the Russian Federation are supposedly interested in the work of R2R-exchanges.
• State Duma deputy allowed a change in the threshold to declare cryptocurrencies.
• Russian President Vladimir Putin instructed to take additional measures to suppress illegal cross -border transfers of digital financial assets.

• The NBU explained the importance of the legalization of cryptocurrencies, but the representative of the regulator proposed postponing the Law “On Virtual Assets”.
  Mincifers, together with other departments and business, have begun the development of a roadmap of cryptocurrency market development.
• The country’s prime minister proposed a plan of blockchain integration with the EU.

• Anatoly Aksakov, the head of the State Duma Committee on the Financial Market, proposed amendments to the Law “On Digital Financial Assets” in connection with the possible issue of a digital ruble.
• Deputy Chairman of the Central Bank of the Russian Federation Alexei Zabotkin said that the regulator plans to submit a prototype of the platform for the digital ruble by the end of this year.
• The Chairman of the Bank of Russia allowed the introduction of commissions in digital ruble for C2V translators.

Regulation

Ireland will expand the law to combat money laundering and financing of terrorism on cryptocurrency industry.

Candidate for chairmen SEC USA Gary Gensler called Bitcoin a “catalyst of changes” and announced plans to “promote innovation”. At the same time, the country’s authorities will take up the search for people who are evading taxes from cryptocurrency operations, and the SeC Commissioner Hester Pierce called the Defi projects to communicate with the SEC so as not to violate the law on securities.

AT India refuted plans for a complete ban on cryptocurrencies. At the same time, the authorities ordered the companies to disclose cryptocurrency assets and announced the need to introduce personal income tax from cryptocurrencies.

Regulation

Ireland will expand the law to combat money laundering and financing of terrorism on cryptocurrency industry.

Candidate for chairmen SEC USA Gary Gensler called Bitcoin a “catalyst of changes” and announced plans to “promote innovation”. At the same time, the country’s authorities will take up the search for people who are evading taxes from cryptocurrency operations, and the SeC Commissioner Hester Pierce called the Defi projects to communicate with the SEC so as not to violate the law on securities.

AT India refuted plans for a complete ban on cryptocurrencies. At the same time, the authorities ordered the companies to disclose cryptocurrency assets and announced the need to introduce personal income tax from cryptocurrencies.

Other significant events of Marta

Tesla announced the receipt of payments in bitcoin

On Monday, March 22, Elon Musk said that Tesla added an option to pay for electric cars in Bitcoin. So far, the opportunity is available only to US residents, but, according to the mask, by the end of the year it will appear in residents of other countries. Tesla bitcoins will not convert to fiat. The company also supports nodes on the Bitcoin network.

VISA will add calculations in the USDC stabelcoin

Visa in cooperation with the Crypto service.COM has launched a pilot program for integrating calculations in the USD Coin (USDC) Stablecoin from CENTRE consortium. The solution works on the Ethereum blockchain and will eliminate the need to convert a digital asset into a fiat to execute a transaction.

Uniswap called the launch date of the third version of the protocol

The launch of the new version of the protocol is scheduled for May 5. The developers promised to introduce the solution of the second level of Optimism, which would potentially solve the problems of high commissions on the Ethereum network and new functions for liquidity providers, as well as an updated structure of commission fees.

Quotes of the month

“Millions of people are very pleased that the authorities have taken a package of stimulating measures for $ 1.9 trillion. Who does not like free money? The problem is that such money makes the poorer and middle class poorer and middle class. Buy more gold, silver and bitcoins “.Robert KiyosakiEntrepreneur, author of the bestseller “rich dad, poor dad”

“This is a very cool thing, as we know, probably. But what is missing a person if he goes in a crypt? It seems to me that this is about people who want to hide something from someone. At the same time, it makes no sense to go against progress, the youth wants it “Oleg TinkovFounder “Tinkoff Bank”