5 Unstoppable Cryptos to Watch in March

These cryptos could break out, even in an uncertain market.

March has been a historically weak month for cryptocurrency trading. Over the last nine years, Bitcoin (BTC) has often produced negative returns in March, according to data from CoinMarketCap. And this year is shaping up to be no different as geopolitical strife roils the market.

Many investors are still licking their wounds, as the cryptocurrency market has been down to nearly 50 percent of its total capitalization since November 2021. Cardano (ADA) is one asset that led the market downward, losing more than 70 percent of its value since November. Bitcoin and Ethereum (ETH) have lost 44 percent and 48 percent of their value over the same period, respectively.

Despite the expected uncertainty of the cryptocurrency market, some assets could see significant gains this month. The five below offer cross-blockchain capabilities or anonymous transactions, or are tied to another asset like gold or oil. These cryptocurrencies could gain from the recent market turmoil because they are flexible, reliable, and offer access to appreciating assets.

ZCash

ZCash (ZEC) is a decentralized cryptocurrency that can be used to create completely anonymous transactions. It was built with technology called zk-SNARK zero-knowledge proof, which encrypts all sensitive information about those who use it in transactions. Unlike other blockchains, ZCash does not reveal the sending or receiving addresses, or the amount spent.

Anonymous transactions have become a prime target for cryptocurrency regulators as they try to crack down on criminals who launder money or evade sanctions using cryptocurrency. But some creators have said the feature helps protect them and their families from potential harm. In this light, people who, for instance, send cryptocurrencies to help Ukranians in their fight against the Russians could also protect their anonymity if they wish.

ZCash has also been on a bull run since late February, according to trading data from CoinMarketCap. It has gained around 30 percent since Feb. 23, and is trading at more than $126 per coin as of this writing. Investors also seem to be flocking to ZCash -- its 24-hour trading volume has also nearly doubled to $450 million, up from $246 million.

Celo

Celo is a blockchain ecosystem that hopes to bring cryptocurrency to every smartphone user in the world. The ecosystem uses phone numbers as public keys, so transferring cryptocurrencies between users becomes similar to sending a text message. Its native token, Celo (CELO), is a proof-of-stake token used for transaction fees and governance participation. It also has three stablecoins in its ecosystem: Celo Dollar (CUSD), Celo Euro (CEUR) and Celo Brazilian Real (CREAL).

The network also allows for creation of smart contracts and decentralized applications. This makes Celo an attractive platform for non-fungible token (NFT) creators. It already hosts NFT projects such as Unify, CreateSafe, and Wildchain, and plans to add more in the future.

NFTs have seen significant growth in investor interest during the market downturn. The NFT market has become increasingly crowded as institutional investors and corporate entities continue to integrate NFTs into their operations. For example, fashion retailer Neiman Marcus is releasing an NFT collection of famous women called “Role Models,” with a portion of each sale going toward scholarships for women. Coca-Cola is also selling NFTs, a collection of which went for almost $576,000 at auction.

Polygon

Polygon (MATIC) is a second-layer protocol for the Ethereum blockchain that essentially turns it into a multi-chain system. Examples of multi-chain systems include Avalanche, Polkadot, and Cosmos. The difference between Polygon and these other systems is that Polygon gets the benefits of Ethereum’s security features.

Most cryptocurrency projects operate on isolated systems. In simple terms, multi-chain protocols allow these isolated systems to communicate with one another. This is one reason these projects are an essential part of making systems interoperable, laying the foundation for continued adoption.

Waves

Waves (WAVES) is another multi-chain protocol similar to Polygon that has gotten a lot of attention from investors over the last week. The platform supports several use cases, including decentralized applications and smart contracts, making it attractive for NFT developers as well.

It's been on a bull run over the last week, gaining more than 20 percent in value over that time. Waves is trading at more than $22 per coin at the time of writing. It is one of the few cryptocurrencies to have recovered all its losses since November 2021. Its 24-hour trading volume is also $1.72 billion as of March 8, up dramatically from late November, according to CoinMarketCap.

PAX Gold

PAX Gold (PAXG) is a stablecoin tied to the price of gold bullion. It is an ERC-20 smart contract token that runs on the Ethereum blockchain, and is one of the most popular ways for cryptocurrency investors to access the gold market.

The main goal of the asset is to make gold more tradable and help investors purchase fractional amounts, virtually eliminating the minimum one-ounce purchase for gold. PAX Gold also stands to gain from gold’s inflationary relationship with other commodities like oil. Crude oil recently reached $130 per barrel because of the Russian war in Ukraine, and gold is on a trajectory to surpass its recent all-time highs, recorded in December 2021. PAX Gold's price has risen by more than 6% over the last seven days as a result.

As always with crypto, make sure you do your own research before diving in, and only invest money you can afford to lose.