5 Cryptocurrencies Worth Buying in April!
The crypto market has had a strong trend reversal over the past two weeks, with Bitcoin and Ethereum taking charge. This has been led by a significant increase in institutional buying and the influx of new retail investors.
With Bitcoin nearing its all-time high and Ethereum aiming for $4,000, it seems that altcoins are also starting to gain momentum. Below are the five most attractive altcoins for April 2022.
Over the past two weeks, the broader cryptocurrency market has done quite well, ending at over $2 trillion. It comes with a strong rally in bitcoin and altcoin prices. Starting with April 2022, let's take a look at the top five altcoins worth buying at current levels.
Cardano's ADA coin has shown strong growth momentum over the past two weeks, with the price of the coin rising more than 60 percent. Earlier this week on March 28, ADA touched a one-month high of 1.25. Also, Cardano is seeing a surge in institutional demand as the price is returning whales with high volume transactions.
One of the key developments has been that Milkomeda has launched Layer-2 aggregations that bring Ethereum Virtual Machine (EVM) capabilities to Cardano. Thus, all EVM-compatible smart contracts will have easy access to Cardano infrastructure.
Also, Cardano developers are working on the key Hydra upgrade later this year, a Tier 2 scalability solution for Cardano. In recent years, Alonzo hard fork, and DeFi activity in Cardano has also been increasing. The Cardano blockchain has reached a new milestone with DeFi TVL surpassing $300 million.
Binance Coin (BNB)
Binance Coin (BNB) maintains its position in the top five cryptos quite strongly. Thanks to the low gas fee on Binance Smart Chain (BSC), it remains a good alternative for investors. At the time of writing, BNB is trading at around $422 with a market cap of $69.6 billion.
Also, Binance has recently released Binance Bridge 2.0. So project developers can host all Ethereum native tokens on Binance Bridge 2.0. The goal of this move was to make DeFi accessible to a wider audience. This will potentially increase the use of BNB tokens and help increase their price.
After a strong correction earlier this year, Ethereum Layer-1 competitor Solana has had some pretty decent upswing over the past few weeks. Since mid-March 2022, the altcoin has increased by more than 50 percent. It is trading for over $120 at the time of writing. The SOL price rally comes right after the new developments in the Solana ecosystem. OpenSea, one of the largest NFT marketplaces, has confirmed that it will begin listing Solana NFTs this month.
Additionally, Solana has teamed up with PUBG's parent company Krafton to create and operate blockchain-based games on the Solana platform. Krafton noted that their partnership with Solana will help them get closer to the Web 3.0 ecosystem.
Terra Labs' native cryptocurrency, LUNA, had a pretty good rise last month as the price gained 100 percent. At the time of writing, LUNA is trading strongly above the $100 level.
Altcoin's latest price rally is happening as Terra is on a massive Bitcoin hoarding spree. Terra founder Do Kwon has pledged to have more than $10 billion in BTC reserves to help the entire ecosystem. This move aims to ensure the stability of the UST stable coin. Earlier on Monday, Terra announced that it has purchased an additional $135 million in Bitcoin, bringing its total Bitcoin holdings to over $1.5 billion.
The crypto community is talking about the much-anticipated Ethereum Merge upgrade. The “Merge” between the Ethereum execution layer and the consensus layer is scheduled to happen around June this year. The launch of PoS Ethereum 2.0 is also approaching. This has created a lot of excitement around ETH and analysts expect its price to reach $10,000 by the end of the year.