These were the best altcoins of March 2023

Most altcoins slightly underperformed Bitcoin in March, but a few outperformed them. Those coins include XRP, XLM, CFX, XDC, and MASK, among others. Each of them achieved a price gain of more than 20 percent in March.

Bitcoin dominance is on the rise

Despite some altcoins outperforming Bitcoin, the dominance of the largest crypto on the planet has increased from 44 to about 48 percent over the past month. Bitcoin scored a plus of about 20 percent, while the aforementioned coins all outperformed the mother of all crypto coins.

The big winner among the altcoins is without a doubt Conflux (CFX), which managed to record an increase of almost 100 percent. Mask also did not bad at all with an increase of 64 percent. However, these are somewhat smaller coins, where these types of increases are not uncommon.

Little or no capital is simply required to give these coins a significant boost. More notable is the rise in XRP, which rose nearly 40 percent in March. At the time of writing, the price is ticking in at $ 0.5319, making the coin the most charming.

XRP’s victory

The positive sentiment surrounding XRP in the market appears to stem from optimism about the coin over Ripple’s current lawsuit against the Securities and Exchange Commission. Most investors seem to expect Ripple to settle the lawsuit in its favour.

That is hugely important for XRP, because it would mean that the court finds that the coin does not qualify as a security for US law. We speak of an effect when a financial instrument carries with it a certain profit expectation that is the result of business activities, in this case of Ripple.

If the court rules that XRP qualifies as a security, that could mean the end of the coin. In that regard, it is clear that the market expects a win. For the industry, it is to be hoped that they will be proven right and the currency can survive.

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