What are the top cryptocurrencies? Bullish trends in theta and filecoin

This article was written exclusively for Investing.com

  • He and he move unevenly near all-time highs
  • Theta: Member of the top 15 in the asset class
  • Filecoin: in the top 20
  • The increase in market capitalization creates a critical mass for the future
  • Look for diamonds in the rough in the cryptopatch

Creating value in the industry requires homework. In order for today’s bargains to become tomorrow’s superstars, they need liquidity to build the critical mass that will lead them to success. That and that are two digital currencies that are in the upper tier of the asset class. You have already established some basic requirements for future success and higher values.

Bitcoin and Ethereum move unevenly near highs

March was a busy month in the markets. Bitcoin hit new all-time highs on March 15th.

Source: CQG

The graph shows the move towards highs from $ 62,080 in mid-March and down to $ 50,595 10 days later. Bitcoin has reversed 18.5% since making highs. The price returned to the $ 60,000 level on the last day of March.

While futures made new highs, they made a lower high in March after starting trading on February 8th. With the introduction of futures, the price of the second largest cryptocurrency rose above the $ 2,000 level in February.

Ether Futures Daily

Source: CQG

In March, Ethereum hit highs of $ 1,954.25 on March 15 and fell 19.7% to $ 1,570 on March 25. Ethereum returned, making new highs at $ 2,185.50 on April 6th.

The global market capitalization of the digital currency market of 9,162 currencies was just above the $ 1.9 trillion level at the end of the first quarter of 2021. Market capitalization first surged above $ 1 trillion in 2021.

Bitcoin and Ethereum are large-cap currencies. The mid-cap valuations are $ 10-60 billion. As of March 31, there were only 13 mid-cap coins. Theta (THETA) and Filecoin (FIL) fall into the mid-cap digital currency category.

Theta: Member of the top 15 in the asset class

As of April 7th, theta was the eleventh cryptocurrency. Theta’s website describes the digital currency as a decentralized video transmission network and as a cryptocurrency. The platform offers technical and financial solutions to problems related to the streaming industry.

The theta blockchain provides incentives for sharing bandwidth on the network. Theta users can contribute their excess bandwidth and computing resources to the theta cryptocurrency. Users can use the Ethereum ecosystem.

On April 7th, the market capitalization of the Theta was $ 12.318 million and the price was $ 12.31.

THETA diagram

Source: CoinMarketCap

The graph shows the range of the digital currency from less than 10 cents in 2018 to the highs of USD 13.25. It almost peaked on March 31, and hit a record high on April 7, 2021.

Theta moved up the hierarchy of digital currencies as the currency outperformed many of the other 9,161+ cryptocurrencies.

Filecoin: in the top 20

Filecoin is a blockchain-based open source public cryptocurrency and digital payments system that is a blockchain-based collaborative digital storage and data retrieval method. Protocol Labs created Filecoin and a critical mass in addition to the interplanetary file system so that users can rent unused disk space. The Filecoin specifications provide transparency for the cryptocurrency.

On April 7th, Filecoin was the 15th leading digital currency with a market cap of $ 10.032 billion at $ 153.80 per coin.

Filecoin chart

Source: CoinMarketCap

The graph shows the range from just over $ 20 to over $ 195 since October 2020 when Filecoin started trading.

The increase in market capitalization creates a critical mass for the future

Theta and Filecoin trends are bullish. The value of digital currencies, their market capitalization, and their place in the asset class rankings have all increased. Filecoin was below $ 24 per coin in early February 2021. The price was more than six times higher on April 7th. Theta fell below $ 1 in late 2020 and has seen explosive growth in recent months.

Theta and Filecoin did very well in building critical mass in the first quarter of 2021. The next few months will show whether the currencies can maintain their current growth rate.

Look for diamonds in the rough in the cryptopatch

I see the digital currency asset class as a field full of diamonds and land mines. With the thousands of coins floating around in cyberspace, many are little more than landmines, which will never reach the critical mass necessary to be of benefit to investors and which could ultimately lead to extinction.

When looking for diamonds in the asset class, liquidity is of the essence. Look for digital currencies with uptrends and market valuations moving up the market hierarchy. Theta and Filecoin fall into the cryptocurrency category that has been diamonds for the past few months.

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