April would be an exciting month for the crypto community considering the fact that it is the start of another quarter. March was one of the best months because the sector attempted to exit the extended bear market witnessed in 2022.
Some of the developments that shaped the outcome of the crypto market in March was the dispute between Binance and the CFTC over regulatory issues. The collapse of a couple of big mainstream banks also triggered a bullish sentiment in the crypto market. Most digital assets turned green despite the chaos in the traditional banking industry, and the three coins we predicted surged as high as 30-40%.
Although the market is far from hitting the heights of the 2021 bull run, some cryptocurrencies are showing signs of potential and are currently valued relatively low heading into April. As we enter the second quarter of the year, starting with April, traders and investors want to know what cryptocurrencies to look out for.
In this context, Technext has scoured the crypto market, analysing digital assets’ recent performance and important developments to produce a list of 3 cryptocurrencies that are worth considering investing in, in April.
Let’s take a look.
Ethereum is the world’s second-largest blockchain and arguably the most valuable in real-world utility. Its much-anticipated Merge update went live in September last year, transitioning from a proof-of-work to a proof-of-stake protocol, significantly improving the network’s scalability, security, and potency over the long term.
The DeFi network is developing significantly in April, expected to increase the ETH token market price. The Shapella network upgrade will activate on the Ethereum network on April 12, allowing validators to withdraw their staked ETH from the Beacon Chain to the execution layer.
Heading towards this upgrade, the ETH token is already enjoying an upward momentum, and the event in the middle of the month would positively impact ETH, add to the momentum and move closer to $2,000.
2023 has been one of the most defining years for the Ripple ecosystem. The token has been gaining traction recently thanks to a rise in adoption, with major financial institutions and banks starting to use the Ripple network for cross-border payments.
Most importantly, Ripple’s legal battle with the Security and Exchange Commission (SEC) is nearing an end. investors are anticipating a positive result from the SEC, and if Ripple wins the legal battle this month, XRP will enjoy legal backing. That would distinguish the coin from practically every other digital asset, giving it a massive advantage.
This move is bullish for the token in April, with analysts predicting an increase between 20-30% in market price.
EOS Network is an open-source blockchain platform prioritising high performance, flexibility, security, and developer experience. Interestingly, the network operates under a delegated proof of stake mechanism.
The EOS ecosystem has a list of positive factors in the works for April. The EOS Ethereum Virtual Machine (EVM) will launch on April 14. It has been in the works for over a year and will provide instant access to code libraries and popular toolkits, ideally paving the road for rapid adoption. The EVM will boast more than 800 swaps per second, immediately becoming the most-performing EVM available.
Near-term price movement for the EOS token offers some intrigue. With the community’s positive sentiment heading into April, the token is expected to record decent profits.
This content is for informational purposes only and should not be construed as investment, tax or legal advice. It is strongly recommended that every recipient seek appropriate independent professional advice before acting on any information contained herein, as Technext provides no endorsement, opinion or advice, including investment, tax or legal, and makes no representation or warranty about the suitability of a product for a particular reader or circumstance.
Get the best of Africa’s daily tech to your inbox – first thing every morning.
Join the community now!