Key highlights:

The performance of Bitcoin during the global COVID-19 crisis could be a defining moment for crypto

The Metal team is preparing an airdrop for Proton tokens

Nebulas are about to release their Voyager upgrade, which will greatly improve the network's decentralization

The top 3 coins to watch this week

As we move towards the start of Q2, a number of cryptocurrency projects are moving ahead with continued development, and this week’s choices are set to benefit from significant updates and announcements that should strengthen their market positions and benefit their communities. The news should also result in increased amounts of attention to each respective currency over the coming weeks.

1. Bitcoin (BTC)

Bitcoin is regarded as the world’s first decentralized digital currency, and was created in 2009 by a pseudonymous figure named Satoshi Nakamoto. Bitcoin is a deflationary currency whose issuance is capped at a total supply of 21 million coins. Bitcoin is the most popular cryptocurrency and it is traded on almost all cryptocurrency exchanges. BTC is used in peer-to-peer transactions.

Why Bitcoin?

With a broad spectrum of financial markets feeling the strain of the Covid-19 outbreak, Bitcoin is well poised to buck the trend and show its resilience over the coming weeks. With the halving just under 50 days away, the medium-term future looks positive and the market should respond positively to the mining rewards dropping by 50%. In addition, the CME’s BTCH20 Bitcoin Futures Contracts are due for settlement on March 30, and as ever, the price of BTC will prove pivotal in determining which way the cryptocurrency market moves over the next few weeks.

Buy/Sell Bitcoin (BTC)

How to buy Bitcoin on Binance?

2. Metal (MTL)

Metal is a cryptocurrency that uses a technology called Proof of Payments Processed which awards individuals with a small proportion of Metal for each dollar spent. Metal also operates as a money transfer system that enables funds to be sent globally to a phone number, and the MTL token can also be used for in-game purchases and sending payment to friends and family.

Why Metal?

The team are preparing an airdrop of Proton tokens ahead of the Protonchain mainnet launch, and will airdrop Proton tokens to all Metal (MTL) token holders next week. A snapshot will be taken at Ethereum block #9773868, which is predicted to take place at around 1:00 PM GMT on March 30. Every MTL account with a positive balance of MTL tokens will be credited with Proton tokens at a 1:1 ratio, and the airdrop will involve ERC-20 wrapped Proton tokens which can be swapped to mainnet tokens after the full Proton mainnet launch. The Metal team outline the full process in their official blog post.

Buy/Sell Metal (MTL)

3. Nebulas (NAS)

Nebulas is a decentralized blockchain platform. The NAS token provides incentives for PoD bookkeepers, and the team aim to also provide cross-chain search capabilities and build an ecosystem that accurately represents the blockchain economy. The Nebulas team is also working on providing data analysis for market forecasting, on-chain data monitoring as well as analysis for on-chain interactive marketing.

Why Nebulas?

The Nebulas team are set to release their Nebulas Voyager mainnet upgrade on March 30. The upgrade will fully decentralize the network and allow the Nebulas community to participate in node operations and mainnet governance. Voyager sees the network move to a Proof of Devotion (PoD) consensus mechanism which incorporates community-run nodes and community members/organizations can register to become node operators by using the node platform from March 30. The team explain all the key details in the following Medium post.

Buy/Sell Nebulas (NAS)

How to buy Nebulas on Binance?

How did the coins perform last week?

The seven day period generally led to poor results across the market. As far as our top coins to watch from the previous week are concerned, their performances were mixed. MKR made a gain of around 10% in value and is currently trading at around $300. AE and Loki, on the other hand, recorded losses of 9 and 6 percent, respectively. Over the course of the week, the total cryptocurrency market cap moved from $165B to $173B (+4.8%).