Category: Stock Market

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

OpenSea, the world’s largest non-fungible token (NFT) marketplace, announced that it will list Solana (CRYPTO: SOL) based NFTs on the site this April. Currently only NFTs on the Ethereum (CRYPTO: ETH) blockchain are available on OpenSea. 

Solana has made a name for itself in the last year. Despite a recent pullback of more than 40% from an all time high in November 2021, this “Ethereum Killer” rebounded out of a four month slump thanks to some impressive news.

To date, this will be the most significant utility Solana has supported in the NFT marketplace. Solana will be put to the test against Ethereum, one of its main competitors. If users begin to take note of Solana’s low fees and lightning fast speeds, it may position the cryptocurrency to return to all time highs. 

Back to the top

This is welcome news for a blockchain that suffered from more than a few poor headlines in late 2021. The Solana network was down three times as the result of inordinate traffic on the blockchain. Something Solana developers claimed the network could handle. These events caused the price of Solana to crash.

Solana now has the chance to showcase its utility and leave that news in the past. Since its launch in April 2019, it has built a reputation as one of the fastest and cheapest blockchains out there. Contrastly, using the Ethereum network for NFTs can be costly for users. During times of increased network traffic, there are high fees when users create or purchase NFTs. The Solana network boasts speeds of up to 65,000 transactions per second for fractions of a penny. That is roughly 4,000 times faster than Ethereum and exponentially cheaper.

DeFi developers are well aware of these perks on the Solana network. To quantify the utility of the Solana ecosystem, we can use the total value locked (TVL) statistic. Total value locked is a sum of all assets a blockchain supports in DeFi protocols. It is represented as a dollar amount. A large TVL indicates that a blockchain offers unique utility that attracts developers and money. Currently, the blockchain has the fifth largest TVL among competitors. A slight pullback from fall of 2021 when Solana rose to as high as third. Solana is no stranger to the top and it may return to those heights. 

What’s the opportunity?

Solana now has direct exposure to the busiest and most prominent NFT marketplace. In just the month of January, there was nearly $5,000,000,000 in volume traded on OpenSea. It was also reported in the same month that the platform surpassed one million wallets, or users. The next largest platform, Rarible, has just under 100,000 wallets. OpenSea will help Solana gain exposure to millions of digital artists, investors, and NFT collectors. If all works out, this new found exposure should bode well for the price of Solana.

Another milestone for Solana

But now the blockchain is at a crossroads. It must prove to users that the bugs that led to the network outages are a thing of the past. This crossroads presents an opportunity for investors. The latest news and price support Solana has found should garner considerable attention. Keep an eye out for this Ethereum opponent to capitalize on a historic opportunity. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Solana makes another leap appeared first on The Motley Fool Australia.

More reading

• How these top cryptos stacked up against Bitcoin and Ethereum in March
• Why Solana, Polkadot, and Cardano are down big today
• Why Solana jumped again today
• Why Solana Stock jumped 10% today
• Why Ethereum, Solana, and Dogecoin are surging higher today

RJ Fulton owns Solana and Ethereum. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Ethereum and Solana. The Motley Fool Australia owns and has recommended Ethereum. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Virtus Health Ltd (ASX: VRT) share price is frozen today amid a bidding war for the company.

The company’s shares were trading at $8.15 before grinding to a halt. In yesterday’s trade, the Virtus Health share price climbed 1.37%.

Virtus Health is a fertility treatment company with operations in Australia, Ireland, Denmark, the UK, and Singapore.

Let’s take a look at why the company’s share price is on hold.

Bidding contest heats up

Virtus Health has entered a trading halt amid a new takeover proposal from CapVest Partners LLP.

Virtus was notified of CapVest’s revised offer this morning but is still waiting on more information. CapVest first made an offer to buy the company in January.

In a statement signed by the company secretary, Virtus Health said:

The trading halt is necessary as the company has been notified this morning that CapVest Partners LLP (CapVest) intends to submit a revised proposal to Virtus but no details of the terms of that revised proposal have been provided at this time.

Accordingly, Virtus considers a trading halt to be appropriate to prevent trading in its securities taking place in an uninformed market.

CapVest is not the only company vying for Virtus Health. Just yesterday, BGH Capital proposed a revised $8 per share off-market takeover bid to Virtus shareholders.

The Virtus Board said it was considering if this bid constituted a superior proposal to that signed with CapVest. In March, Virtus signed a transaction implementation deed with CapVest on a 100% takeover proposal which valued the company at $8.25 per share.

In total, eight competing proposals have now been received by Virtus Health.

Virtus Health share price snapshot

The Virtus Health share price has surged 27% in a year and almost 19% this year to date.

The company’s shares have jumped 4% in the past month, while they are climbing nearly 2% in the past week alone.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has returned about 8% over the past year.

The company has a market capitalisation of about $697 million based on the current share price.

The post Virtus Health share price on ice as takeover battle heats up appeared first on The Motley Fool Australia.

More reading

• Here’s why the Virtus Health share price outperformed today
• Why is the Virtus Health (ASX:VRT) share price slipping today?
• Time is running out to secure this ASX healthcare share dividend
• Virtus Health (ASX:VRT) hits 52-week high, accepts CapVest bid
• Why CSL, Dicker Data, Elders, and Virtus Health shares are charging higher

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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On 3 November last year, Commonwealth Bank of Australia (ASX: CBA) earned its spot in the virtual history books.

If you own CBA shares, you may recall that was the date the bank announced it would begin to offer crypto services to its 6.5 million customers, a first in Australia.

In a partnership with Gemini and Chainalysis, customers will be able to use the CommBank app to trade and hold Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and a basket of other cryptos.

Commenting on the bank’s decision to rollout a crypto service at the time, CBA CEO Matt Comyn said, “We believe we can play an important role in crypto to address what’s clearly a growing customer need and provide capability, security and confidence in a crypto trading platform.”

And Gemini’s global head of business development, Dave Abner said at the time of the announcement, “The exponential growth of digital assets internationally, coupled with Gemini’s institutional-grade security and proactive regulatory approach, positions this partnership to set a new standard for banks and financial platforms in Australia and across the globe.”

Now, however, CBA’s crypto rollout is facing regulatory delays.

What’s happening with the bank’s crypto services?

As the Australian Financial Review reports, CBA’s crypto rollout is being held up by regulatory hurdles.

The bank is in discussions with a range of regulators, including the Australian Securities and Investments Commission (ASIC), the Australian Taxation Office (ATO), AUSTRAC and the Australian Competition and Consumer Commission.

ASIC is scrutinising CommBank’s “product disclosure statement, the target market for the product and consumer protection”.

Commenting on the matter at The Australian Financial Review Cryptocurrency Summit ASIC commissioner Cathie Armour said, “We’re interested in any sort of new innovation where we think there’s real benefits of innovation being within our regulatory regime. There are a bunch of rules there that you need to follow.”

How have CBA shares been performing?

CBA shares have gained 22% over the past 12 months, handily outperforming the 8% gains posted by the S&P/ASX 200 Index (ASX: XJO) in that same period.

At the current price, CBA shares come with a 3.6% trailing dividend yield, fully franked.

The post Own CBA shares? Here’s why the bank’s crypto rollout is facing delays appeared first on The Motley Fool Australia.

More reading

• How these top cryptos stacked up against Bitcoin and Ethereum in March
• Why Bitcoin, Ethereum, Dogecoin, and Shiba Inu are down today
• Why this crypto is the most resilient to inflation: experts
• Can the Bitcoin price really top US$500,000?
• Why CBA, Kelsian, PolyNovo, and Weebit Nano shares are pushing higher

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Bitcoin and Ethereum. The Motley Fool Australia owns and has recommended Bitcoin and Ethereum. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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ARB Corporation Limited (ASX: ARB) shareholders might be wondering why the company’s share price is currently down 4.35% to $39.62 today.

The 4×4 accessories company released its half-year results on 22 February, reporting double-digit growth across key financial metrics.

In turn, the board opted to ramp up its upcoming interim dividend to eligible investors.

Let’s take a look below at why the ARB share price is edging lower during midday trade.

Shareholders set eyes on ARB’s interim dividend

The ARB share price is in reverse following the company’s shares trading ex-dividend today.

Typically, one business day before the record date, the ex-dividend date is when investors must have purchased the company’s shares. If the investor does not buy ARB shares before this date, the dividend will go to the seller.

Historically, when a company reaches its ex-dividend day, its shares tend to fall in proportion to the dividend paid out. This is because investors tend to sell off the company’s shares after securing the dividend.

In addition, the the S&P/ASX 200 Index (ASX: XJO) is also heading south today, down by 0.46% to 7,456 points. It appears investors are heading for the exits after a poor performance on Wall Street overnight.

When can shareholders expect to be paid?

For those eligible for ARB’s interim dividend, shareholders will receive a payment of 39 cents per share on 22 April. The dividend is fully franked.

Franking credits, otherwise known as imputation credits, are highly regarded in the investing world. This is a type of tax credit that is passed onto shareholders when dividend payments are made by a company. Essentially, the company is paying the tax on the dividends received by the shareholders.

Investors who elect for the dividend reinvestment plan (DRP) will see a number of shares added to their portfolio. This will be based on a volume-weighted average price from 7 April to 13 April.

The DRP discount rate is set at 2%, and the last election date for shareholders to opt-in is 13 April.

ARB share price summary

Since the beginning of 2022, ARB shares have lost 24%. In comparison, the benchmark index is relatively flat over the same time frame.

The ARB share price reached an all-time high of $55.00 on 4 January, before backtracking amid inflationary movements and geopolitical tensions.

Based on today’s price, ARB commands a market capitalisation of roughly $3.24 billion and has a trailing dividend yield of 1.71%.

The post Here’s why the ARB Corporation share price is on the slide today appeared first on The Motley Fool Australia.

More reading

• Hoping to pocket the ARB Corporation dividend? Read this
• Here’s a look at some ASX shares with ex-dividend dates coming up in April
• The next ASX share ready to join the 20-bagger club: expert
• These were the best performing ASX 200 share last week

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ARB Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Webjet Limited (ASX: WEB) share price is sliding lower on Thursday despite no word from the company.

However, its dip might be linked to Wednesday’s rough session in the US that saw international travel stocks slumping amid interest rate concerns.

At the time of writing, the Webjet share price is $5.30, 5.19% lower than its previous close.

For context, the S&P/ASX 200 Index(ASX: XJO) is currently down 0.53%.

Let’s take a closer look at what might be weighing on the Webjet share price today.

Why is the Webjet share price plummeting today?

Webjet’s stock is suffering today. Meanwhile, Australia has woken up to carnage among US travel stocks.

As The Motley Fool’s Rich Smith reported, many of the nation’s biggest airlines’ stocks fell overnight, weighed down by rising interest rate concerns.

Airlines are – perhaps unsurprisingly, given the still-ongoing pandemic – some of the most indebted companies on US exchanges, said Smith.

That means they could be hit hard if interest rates increase, as that would increase the cost of their debts.

And it wasn’t just US airline stocks that suffered while Australia slept.

Booking Holdings Inc (NASDAQ: BKNG) – the parent company of Booking.com – saw its share price slip 3.3% on Wednesday. Meanwhile, the Expedia Group Inc (NASDAQ: EXPE) share price fell 4.7%.

Landing back in Australia on Thursday, the Webjet share price is joined in the red by fellow ASX 200 travel stock, Flight Centre Travel Group Ltd (ASX: FLT). It has fallen 3.9% at the time of writing.

Qantas Airways Limited (ASX: QAN) and Corporate Travel Management Ltd (ASX: CTD) are also down, having fallen 1.7% and 3.2% respectively.

Sadly, today’s tumble has wiped the Webjet share price’s 2022 gains off the board. It’s currently trading for 2.3% less than it was at the start of the year. It is also 5.1% lower than it was this time last year.

The post The Webjet share price is tumbling 5% on Thursday. Could this be why? appeared first on The Motley Fool Australia.

More reading

• ASX travel shares have been flying higher over the past month. Here’s why
• Why this broker thinks the Webjet share price can fly 26% higher
• How did the Webjet share price travel in March?
• These are the 10 most shorted ASX shares
• Top brokers name 3 ASX shares to buy next week

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Booking Holdings. The Motley Fool Australia has recommended Booking Holdings, Corporate Travel Management Limited, Flight Centre Travel Group Limited, and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) is on course to record another decline. The benchmark index is currently down 0.4% to 7,462.5 points.

Here’s what is happening on the ASX 200 today:

Magellan shares jump on funds update

The Magellan Financial Group Ltd (ASX: MFG) share price is surging higher today following a funds under management update (FUM). Although the fund manager reported another $1.1 billion of net fund outflows, this is a major slowdown from recent trends. Furthermore, thanks to favourable market movements, Magellan’s total FUM actually increased by $0.9 billion between 11 March and 31 March.

Tech shares tumble

It has been a difficult day for the tech sector after a very poor night of trade on the Nasdaq index on Wall Street on Wednesday. The S&P ASX All Technology index is down 2.6% at the time of writing, with Altium Limited (ASX: ALU) and Block Inc (ASX: SQ2) among the biggest drags on the index on Thursday.

Fortescue raises US$1.5 billion

The Fortescue Metals Group Limited (ASX: FMG) share price is edging higher today after the iron ore miner raised US$1.5 billion via a notes offering. The release reveals that US$800 million of proceeds from the offering will be applied to eligible Green Projects, with the remaining US$700 million of proceeds to be applied toward general corporate purposes.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Thursday has been the Magellan share price with a 10% gain. This follows the release of its FUM update this morning. Going the other way, the worst performer has been the WiseTech Global Ltd (ASX: WTC) share price with a 5% decline following weakness in the tech sector.

The post ASX 200 midday update: Magellan jumps, tech shares tumble appeared first on The Motley Fool Australia.

More reading

• Magellan share price rockets 11% despite continued FUM carnage
• Fortescue share price lifts amid $2b cap raise
• March was a lousy month for ASX BNPL shares. Here’s why
• Broker says the Altium share price weakness is a buying opportunity
• 2 ASX tech shares that are cheap enough to buy now

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Altium, Block, Inc., and WiseTech Global. The Motley Fool Australia owns and has recommended Block, Inc. and WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

Shares of Tesla (NASDAQ: TSLA) gained 23.8% in March, according to data from S&P Global Market Intelligence. The electric vehicle (EV) veteran built this jump around the opening of a new factory and a bit of overly popular share-count management. 

So what

First, Tesla CEO Elon Musk traveled to Germany for the opening of a new car and battery Gigafactory in the Berlin area. There, he met up with Chancellor Olaf Scholz of Germany to oversee the first 30 vehicle deliveries from the delayed factory. Tesla’s stock rose 7.9% that day.

Later, Tesla’s board of directors took steps toward a stock split later this year. Shareholders will be asked to allow a boost to the share count beyond the current authorization of 2.1 billion, which already has plenty of wiggle room for the issuance of new shares. The current share count stops at 1.03 billion. Investors were quick to embrace this idea, raising Tesla’s stock price by 8.9% over the next two days. 

Now what

The new factory is a potential game-changer, so it was good to see Tesla work its way through the German red tape and cut the ribbon at long last. The company plans to crank out 500,000 cars per year from this factory, alongside 50 gigawatt-hours of rechargeable batteries. For some context, Tesla delivered a total of 936,000 EVs globally last year.

The stock split is honestly not that interesting. Sure, it’s a sign that Tesla’s leadership expects share prices to continue rising, but the move itself doesn’t make a real difference to most investors. If you can’t afford a full share of Tesla at $1,045, your broker probably lets you pick up a small fraction of a share at no extra cost.

All things considered, Tesla continues to impress market makers and reward shareholders. My own investment in this company has gained 2,460% since the summer of 2014, and I have no plans to close that position anytime soon. In my view, Tesla is still in the early innings of a fantastic long-term plan. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why Tesla shares rose 24% last month appeared first on The Motley Fool Australia.

More reading

• Why cryptos like Bitcoin are ‘no longer in the fringes’
• Why are ASX tech shares having such a stellar day?
• Should you buy fractional shares of Tesla before the potential stock split?
• Should investors worry about Tesla’s Q1 deliveries miss?
• Tesla (NASDAQ:TSLA) share price rockets 8% on stock split news

Anders Bylund owns Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Tesla. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The All Ordinaries Index (ASX: XAO) has once again gotten out on the wrong side of the bed today and has opened lower. At the time of writing, the All Ords is down by 0.45% at 7,753 points. So perhaps enthusiasts of the Ionic Rare Earths Ltd (ASX: IXR) share price might be feeling pleased that the company isn’t trading today. Ionic Rare Earths is currently stuck at 8.2 cents per share. And that’s the level it will be staying at, at least for now.

Yes, Ionic Rare Earths shares are currently in a trading halt. This comes after the company put out an ASX notice this morning before market open confirming the halt.

We don’t know too much at this stage, but here’s what the company said this morning:

In accordance with Listing Rule 17.1 Ionic Rare Earths Limited (ASX: IXR) requests an immediate trading halt on its securities pending an announcement by the Company regarding a capital raising. 

The Company requests the trading halt remain in place until the earlier of commencement of normal trading on Monday, 11th April 2022 or when the announcement concerning the capital raising is released to the market.

So we know this is the result of a planned capital raising program, but that’s about it at this stage.

A capital raising program is one way a company can raise additional capital to reinvest into its business. Or indeed for any other purpose it sees fit. A popular method is via a share purchase plan. This is where existing investors can apply for new shares at what is usually a discounted price.

But we shall have to wait and see what the company has to say on this matter before we can be certain. Until then, it’s a waiting game for investors.

Ionic Rare Earths share price snapshot

Before today’s halt, Ionic Rare Earths shares had been on a bit of a tear. The company has risen a pleasing 64% so far in 2022, rising from 5 cents a share at the start of the year to yesterday’s 8.2 cents. Ionic Rare Earths is also up a healthy 36.67% in the past month alone.

Over the past five years, investors have enjoyed gains worth a whopping 310%.

At the last traded Ionic Rare Earths share price, this company has a market capitalisation of $279.69 million.

The post Why is the Ionic Rare Earths share price frozen today? appeared first on The Motley Fool Australia.

More reading

• Magellan share price rockets 11% despite continued FUM carnage
• How these top cryptos stacked up against Bitcoin and Ethereum in March
• 3 more of the ‘best’ ASX 200 shares to buy this month: Morgans
• Is the Macquarie share price a buy ahead of next month’s earnings results?
• 2 hot ASX lithium stocks brokers rate as buys

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Magellan Financial Group Ltd (ASX: MFG) share price is rocketing today following the company’s funds under management (FUM) update.

At the time of writing, the fund manager’s shares are swapping hands for $17.21, up 11.24%.

In contrast, the S&P/ASX 200 Index (ASX: XJO) is having another tough day and trading at 7,459 points, down 0.41%.

FUM outflows continue

Investors appear to be shrugging off the latest FUM report, sending the Magellan share price to a 1-month high.

In its release, Magellan reported another $1.1 billion in net outflows between 11 March and 31 March. This comprised $500 million from retail investors and $600 million from institutional clients.

Furthermore, the company received notice that a further $200 million will be redeemed.

Across the board, total FUM stood at $70 billion at the end of the March quarter.

Global equities made up more than half of the FUM with $39.6 billion recorded. Next in line, infrastructure equities registered $20.5 billion, and Australian equities came to $9.9 billion.

The exchange rate fared slightly in favour of the Australian dollar with the conversion at 75.95 US cents.

About the Magellan share price

Since the start of July 2021, the Magellan share price has continued to tread downwards despite today’s gains.

Reaching a 52-week high of $56.18 on 2 July 2021, this means the company’s shares are down by roughly 70%.

Year to date it’s no better, with the Magellan share price losing about 20% over the four months.

Magellan has a price-to-earnings (P/E) ratio of 9.6 and a market capitalisation of roughly $2.87 billion.

The post Magellan share price rockets 11% despite continued FUM carnage appeared first on The Motley Fool Australia.

More reading

• Magellan share price sinks again, down 6%
• ASX 200 (ASX:XJO) midday update: Block and Zip sink, Paladin Energy raises $200m
• What’s up with the Magellan (ASX:MFG) share price lately?
• Is it finally time to buy Magellan (ASX:MFG) shares?
• Magellan (ASX:MFG) share price dips despite free gift bonanza

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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March was a good month for most crypto investors.

The world’s top 2 cryptos both surged higher, setting a bullish tone for the wider market of altcoins.

Bitcoin (CRYPTO: BTC), the world’s original digital token, gained 20% in March.

Ethereum (CRYPTO: ETH), the second biggest player in the virtual currency space, did even better, surging 25% in March.

Below we look at how some of the other leading cryptos stacked up.

For the purposes of this article, we’re sticking to the top-10 by market cap and excluding the stablecoins as their prices tend to move closely with the fiat currencies they’re intended to track.

This crypto gained 27% in March

First up we have Terra (CRYPTO: LUNA).

On 1 March Terra was trading for US$85 and by 31 March the same token was worth $108. That’s a 27% gain, beating both Bitcoin and Ethereum last month.

Terra also happened to be the fifth best crypto performer (out of the top 100) in 2021, gaining 10,121% over the calendar year.

If you’re unfamiliar with the token, CoinMarketCap tells us, “Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems.”

Terra launched in April 2019 with the intention to provide fast and affordable settlements.

The token reached an all-time high of US$119 just two days ago, on 5 April. It’s currently trading back at US$109. That gives it a market cap of $38.3 billion, making it the 6th biggest crypto in virtual circulation.

This crypto came in neck and neck with Ethereum in March

On 1 March Cardano (CRYPTO: ADA) was trading for 97 US cents and the crypto finished the month worth US$1.21. That 25% gain beats Bitcoin’s performance and puts Cardano neck and neck with Ethereum’s strong run.

Cardano was founded in 2017. According to CoinMarketCap, “Cardano is a proof-of-stake blockchain platform that says its goal is to allow ‘changemakers, innovators and visionaries’ to bring about positive global change… [It] aims to allow decentralised apps and smart contracts to be developed with modularity.”

Any investors who hold Cardano also hold voting rights in how the network operates and over any potential software changes.

Like most cryptos, the Cardano price has retraced so far in April, currently at US$1.05. That gives it a market cap of US$35.8 billion and puts it in the number 9 spot on the list of top tokens.

At the current price, Cardano is down 66% from its 2 September all-time high of US$3.10.

And this altcoin soared 33% in March

Handily beating the performance of Bitcoin and Ethereum last month was Solana (CRYPTO: SOL).

Solana was worth US$96 on 1 March and was trading for US$128 on 31 March, a gain of 33%.

Solana launched in March 2020. CoinMarketCap states that, “Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions.”

Solana has slipped from its 31 March levels and is currently trading for US$112. That gives it a market cap of US$37.2 billion and puts it at number 7 on the list of top cryptos.

Despite the strong performance in March, the token remains down 56% from its 6 November all-time highs of US$260.

The post How these top cryptos stacked up against Bitcoin and Ethereum in March appeared first on The Motley Fool Australia.

More reading

• Why Solana, Polkadot, and Cardano are down big today
• Why Bitcoin, Ethereum, Dogecoin, and Shiba Inu are down today
• Why this crypto is the most resilient to inflation: experts
• Can the Bitcoin price really top US$500,000?
• The Ethereum price just ended a stellar month. Expert panel predicts what’s next

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Bitcoin, Ethereum, and Solana. The Motley Fool Australia owns and has recommended Bitcoin and Ethereum. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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