In the first quarter of 2023, what kind of price activity was experienced on the side of BTC, ETH, DOGE, XRP, ADA?
In the first quarter, which ended with the start of April 2023, many activities occurred in the crypto industry. Not only in the cryptocurrency market, but globally, there were significant differences in many financial areas. We evaluated Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Cardano (ADA) and Dogecoin (DOGE) in cryptocurrencies that have been on the rise since the beginning of January.
The crypto industry, which was hit from time to time by Fed interest rate decisions and sometimes by bank crises, somehow managed to continue on its way and move forward in the upward direction. But how did the main names of the cryptocurrency market perform in this time frame?
Bitcoin (BTC): Market Holds Its Flag, 74.52 Percent Increase
Stepping into 2023 at $16,719, BTC proved that it is the leader of the industry, especially with the volume candles it showed towards the end of the 1st quarter. With the end of January, it was seen that the FUD news flow accelerated. These news feeds led BTC to a 12 percent drop from February 2-10. Cryptocurrency investors ask, “Was this a scam?” question occurred.
Then, with the news coming from Hong-Kong, BTC, which started to attack again, caught a large buyer group in the company of Asian-based crypto projects. The bank crises that began in mid-March triggered the trend towards the crypto industry and increased the inflow of money into the market. Reaching $29,178 in a short time span, BTC saw the peak of the last 10 months and managed to receive appreciation from crypto investors for the first quarter.
Ethereum (ETH): Shanghai and Capella Hand in Hand, 55.85% Increase!
With the Shanghai and Capella dates approaching, ETH, which has appeared in the crypto scene, has increased by 56% for the first quarter. ETH, which stepped into the new year from the levels of $ 1.192, reached $ 1.858 in the first quarter of 2023 and saw the peak of the last 7 months. ETH, which acts more cautiously compared to other altcoins, did not make very hard pricing in the short time frame. ETH, which fell to $ 1,370 on March 10, created a fearful short period for the crypto market, but it recovered this performance as the days were counted for the Shanghai and Capella upgrade.
Counting the days for Shanghai and Capella, ETH made moves since the beginning of April and managed to carry the price peak up to $ 1,942. Creating a positive atmosphere before the Shanghai and Capella updates, ETH prepared time for the rise of many altcoins with the price momentum it showed.
Ripple (XRP): Star Of The SEC Litigation Was Nearly 100 Percent!
Sailing into the new year with low prices, XRP managed to regain all the focus on the developments in the SEC case. XRP, one of the most established coins of the crypto ecosystem, showed an increase of 94.59 percent in the first quarter. With this rise, the popular coin has almost doubled its price since the beginning of the year. With the positive developments coming from the SEC case, which its investors are eagerly waiting for, XRP was among the altcoins that marked the first quarter.
Currently moving below the monthly and weekly opening price, XRP has created a much talked about pricing in the first quarter of the new year. XRP, which was known for being “unresponsive to the increase of the market” in the previous periods, this time took the throne of altcoins by showing great competition.
Dogecoin (DOGE): Twitter Gesture Late: 44.10 Percent Increase
DOGE, which performed weaker than other coins, actually missed the first quarter due to the realization date of the Twitter gesture. Elon Musk, one of DOGE’s maximalists and the owner of Twitter, has created an incredible atmosphere at DOGE since the beginning of the year. In the past days, memecoin, which has been on the rise with Twitter adding the DOGE logo to its homepage, has shown a 66 percent increase in a short time. However, since this move of Twitter came in April, it could not be included in the first quarter performance.
DOGE, which remained weaker than other cryptocurrencies in the first quarter of 2023, really caught a “spring mood” after this innovation of Twitter. For DOGE, which has caught great volatility with the emphasis of Elon Musk, the target of 1 dollar still continues to come from the crypto communities.
Cardano (ADA): Shine With Its CEO: 74.41 Percent Increase!
One of the old names in the industry, ADA has created a good atmosphere, especially as of this year, accompanied by its CEO, Charles Hoskinson. Hoskinson’s talk about the upcoming innovations, especially on the ADA side, and the comments about the future of crypto, brought ADA out of its silence and stood up. ADA, which increased by approximately 75 percent, faced a sales wave after seeing this price and entered a falling trend. The major coin, which gained momentum again with the appreciation of BTC, seems to have its eyes on its monthly opening price.
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