Synthetix, Hedera Hashgraph, Tezos Price: HBAR’s 199% returns overshadow Tezos’
The cryptocurrency market saw the month of March drawing to a close, a month that saw many of the market’s top tokens and coins recording significant losses. Despite the magnitude of the fall last month, however, a few cryptos bounced back and were on their way to a path of recovery.
Tezos, the tenth-largest coin on CoinMarketCap’s list, has been the best performer among all the top cryptos with almost 190% in growth. XTZ continued with its positive price performance, despite the many bear traps spread across the market. The coin reported a YTD return of 19.47% while reporting a minimal loss in price over the last 24-hours.
The coin’s immediate resistance and support were marked at $1.805 and $1.216, respectively, as the MACD line overtook the signal line, indicating a return to bullishness. Even though the indicator pointed towards a green market, the momentum was low.
Tezos’ staking bakery in the United States moved to Ireland on 31 March, according to Coinbase. Coinbase added the staking service in 2019 and since then, has become the operator of the largest validator on the Tezos network.
Synthetix Network Token [SNX]
The Synthetix Network Token [SNX] is ranked 45th on CMC in terms of its market cap of $107.56 million. The coin’s 24-hour circulating supply was $2.21 million, as it was priced at $0.6122, at press time. The coin faced one of the largest devaluations on 12 March but did since manage to report 2.27% in growth over the past 24 hours.
Synthetix had announced earlier this month of its plans to add new features, including derivatives trading on its platform. These additions will be brought in by Q3 of 2020.
Hedera Hashgraph [HBAR]
Hedera Hashgraph performed well, even in a bearish month like March. Despite losing some of its value due to the roaring bear, the coin’s YTD still stood at 199.64%. The HBAR market also appeared to be in full swing, noting a bullish trend, as highlighted by the Parabolic SAR indicator.
Hedera Hashgraph is a distributed ledger technology recognized for building decentralized applications. Recently, Indian companies like Tata Communications and Wipro joined the governing council of Hedera, which already includes Google, IBM, Nomura, Boeing, and FIS.