Decentral Block Post

Bitcoin’s dominance over the crypto market, which represents its share of market capitalization relative to the total cryptocurrency market capitalization, rose steeply from around 44% to highs of 48% in March. 

While Bitcoin’s price increased by 22.7% during the month, most altcoins yielded subpar or negative returns. However, there were some outliers which showed a second month of positive momentum. Take for example, XRP, which saw steady positive momentum as investors expect a positive outcome in its U.S. court case against the SEC.

Conflux Network

Conflux Network continued its positive run from February, nearly doubling its price in March. The project’s team continued to strengthen its partnerships in China by adding XCMD, the world’s third-largest construction machinery manufacturer and Zen Spark Technology.

The Conflux team also supports the development of permissionless applications. It has established a grants program to promote its ecosystem development.

The CFX token tested the support between $0.10 and $0.20 and continued its positive run to reach a new yearly high of $0.46. The market structure of the token with higher highs and higher lows looks bullish, with a potential target of $0.80. It represents the breakdown level from the 2021 bull run.

Bitcoin’s dominance over the crypto market, which represents its share of market capitalization relative to the total cryptocurrency market capitalization, rose steeply from around 44% to highs of 48% in March. 

While Bitcoin’s price increased by 22.7% during the month, most altcoins yielded subpar or negative returns. However, there were some outliers which showed a second month of positive momentum. Take for example, XRP, which saw steady positive momentum as investors expect a positive outcome in its U.S. court case against the SEC.

Conflux Network

Conflux Network continued its positive run from February, nearly doubling its price in March. The project’s team continued to strengthen its partnerships in China by adding XCMD, the world’s third-largest construction machinery manufacturer and Zen Spark Technology.

The Conflux team also supports the development of permissionless applications. It has established a grants program to promote its ecosystem development.

The CFX token tested the support between $0.10 and $0.20 and continued its positive run to reach a new yearly high of $0.46. The market structure of the token with higher highs and higher lows looks bullish, with a potential target of $0.80. It represents the breakdown level from the 2021 bull run.

The price of Solana (SOL) fell nearly 95% in 2022, partly due to its association with tainted crypto entrepreneur Sam Bankman-Fried and his collapsed ventures FTX and Alameda Research. But so far in 2023, things have improved for the SOL price.

Solana price doubles in Q1/2023

Solana's price has risen 104% to around $20.60 per SOL in the first quarter of 2023, the highest gains compared to any cryptocurrency in the top-25, including Bitcoin (BTC) and Ether (ETH).

In fact, January was Solana's best month since August 2021 in terms of price performance.

SOL price rallied by about 140% in it, without any major fundamentals that could have driven the rates up. Nonetheless, the SOL/USD pair became excessively oversold in December 2022, which may have influenced traders to buy the dip. 

The rally also coincided with Messari's analysis of the Solana ecosystem after the FTX collapse, showing its staking and decentralization was stable and actually improved its position after the FTX fiasco.

The price of Solana (SOL) fell nearly 95% in 2022, partly due to its association with tainted crypto entrepreneur Sam Bankman-Fried and his collapsed ventures, FTX and Alameda Research. But so far in 2023, things have improved for SOL’s price.

Solana’s price doubles in Q1/2023

Solana’s price has risen 104% to around $20.60 per SOL in the first quarter of 2023, the highest gains compared to any cryptocurrency in the top 25, including Bitcoin (BTC) and Ether (ETH).

In fact, January was Solana’s best month since August 2021 in terms of price performance.

SOL’s price rallied by about 140% in it without any major fundamentals that could have driven the rates up. Nonetheless, the SOL/USD pair became excessively oversold in December 2022, which may have influenced traders to buy the dip. 

The rally also coincided with Messari’s analysis of the Solana ecosystem after the FTX collapse, showing its staking and decentralization were stable and actually improved its position after the FTX fiasco.

Bitcoin (BTC) recovered recent losses at the March 31 Wall Street open as traders looked for a strong monthly close.

PCE delights risk assets as with BTC price up $1,000

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD heading to $28,556 on Bitstamp after the opening bell, up $1,000 from the day's lows.

The fresh gains followed encouraging macroeconomic data from the United States, with the February Personal Consumption Expenditures (PCE) index modestly beating expectations in some areas.

"We are making progress in the fight against inflation," an official White House statement about the PCE numbers read.

"Today’s report shows annual inflation down by nearly 30 percent from this summer, against a backdrop of low unemployment and steady growth."

The price of Stellar (XLM) rebounded 15% versus its arch-rival XRP (XRP) two days after the XLM/XRP pair set a record low of 0.181.

Notably, the XLM/XRP pair rose to its intraday high of 0.20 XRP on March 31, a move that coincided with a decoupling between Stellar and XRP in the U.S. dollar market. For instance, XLM's price has jumped over 11% since March 29 versus XRP's 3% decline.

XLM price eyes 10% gains versus XRP in April

On a broader timeframe, XLM has dropped 89% versus its peak of 1.655 XRP in January 2021. Interestingly, the peak formed a month after the U.S. Securities and Exchange Commission sued Ripple for allegedly selling securities in the form of XRP tokens. 

The SEC vs. Ripple case is now nearing its conclusion with legal experts favoring a win for Ripple.

Meanwhile, XLM continues its long-term downtrend against XRP, though a rebound in April is on the cards.

The price of Stellar (XLM) rebounded 15% versus its arch-rival XRP (XRP) two days after the XLM/XRP pair set a record low of 0.181.

Notably, the XLM/XRP pair rose to its intraday high of 0.20 XRP on March 31, coinciding with a decoupling between Stellar and XRP in the U.S. dollar market. For instance, XLM’s price has jumped over 11% since March 29 versus XRP’s 3% decline.

XLM price eyes 10% gains versus XRP in April

On a broader timeframe, XLM dropped 89% versus its peak of 1.655 XRP in January 2021. Interestingly, the peak formed a month after the United States Securities and Exchange Commission sued Ripple for allegedly selling securities in the form of XRP tokens. 

The SEC vs. Ripple case is now nearing its conclusion, with legal experts favoring a win for Ripple.

Meanwhile, XLM continues its long-term downtrend against XRP, though a rebound in April is on the cards.