Helium (HNT), EOS, Binance Coin, Tezos, Siacoin, Filecoin Lead the Altcoin Market Rally on April Bulls Day!

Bulls ‘stint mixed with bears’ advance characterized the Altcoin market on April 1st. Selected Altcoins such as Filecoin, EOS, Binance Coin, Tezos, Siacoin, Helium (HNT), Stellar (XLM), Compound (COMP) have posted impressive performances in the last 24 hours. A handful of these tokens also attained new all-time highs while Bitcoin consolidated below $60k.

Although Bitcoin price remains pinned below $60,000, data by Bybt indicated that Bitcoin performed impressively in March, a month that normally sees negative returns. Bitcoin is up 30% in March while also attaining new all-time highs of $61,788.

Notably, from October 2020 till March 2021, Bitcoin saw only green candles each month. BTC price recorded cumulative gains of 103% in Q1 2021. The last year to surpass this was also 2013 when the price was under $100, with a Q1 performance of 539%.

Let’s Take a Look at These Altcoins

Filecoin (FIL)
FIL price rallied to new all-time highs of $237 on April 1st. This move caused the decentralized storage network to enter the list of top 10 coins, briefly flipping Litecoin and Chainlink. Increased institutional demand for FIL tokens surged as inflows into the Grayscale Investments’ Filecoin Trust picked up the pace on Thursday, causing FIL price to skyrocket. This may seem just the beginning as Wu Blockchain, a crypto-journalist based in China indicated that the demand for FIL has been heating up in China.

Recently, the daily volume of FIL on Huobi, which ranks as China’s largest cryptocurrency exchange, reached $24.2 billion. Bearish advance however caused Filecoin to erase most of the gains amassed in the last 24 hours, trading to lows of $180 as at the time of writing. It was also placed 11th position on crypto asset market capitalization ranking.

Helium (HNT)
Helium (HNT) has rallied from $5.61 on March 12 to $13.93 on April 2nd, nearly a 250% jump within the said time frame. The Helium protocol aims to build a decentralized wireless network and connect IoT devices at a fraction of the cost of the current cellular service providers. Since February 2021, the number of active hotspots has jumped from 18,000 to 24,572.

This number is likely to increase as one of its third-party HNT Miner suppliers said that it had shipped 2,000 Miners to customers in China on March 31. If HNT’s popularity increases in China, the number of hotspots could continue to rise. Helium rose to all-time highs of $13.57 on April 2.

Binance Coin (BNB)
In the last few months, native exchange tokens have exploded in value in recent months, alongside the wider cryptocurrency markets. After hitting lows of $223 on Mar. 25, Binance Coin has been climbing higher. The uptrend reached highs of $342 on April 1st. BNB has also reclaimed 3rd place on the crypto asset market capitalization ranking.

Tezos (XTZ)
Tezos is seeing increased adoption as Groupe Casino, a 120-year-old retail company headquartered in France reportedly launched a Stablecoin pegged to the Euro on Tezos protocol. Amid the NFT frenzies, Tezos (XTZ) recently launched its highly anticipated NFT platform, Kalamint. This will allow for the minting, selling, and buying NFTs on the Tezos blockchain. Tezos attained highs of $5.34 before a slight retreat at the time of writing.

Siacoin (SC)
Siacoin (SC) continued its bullish trend and hit highs of $0.029 on April 1st. Siacoin has been on a steady climb since mid-February after Skynet Labs and Streambed entered into a partnership to give the control of the content back to the creators. This ensures that the content cannot be de-platformed and hacked as it is stored world over secured by the blockchain. Siacoin is up 12.40% in the last 24 hours and 52.54% on the weekly.

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