Crypto analyst Austin Arnold has identified five altcoins that investors should watch out for in April 2023. According to the analyst, Fetch.ai (FET) and 4 coins are approaching important events that could affect their market performance…
Attention to FET and 4 these altcoin projects in April
Ethereum (ETH)
Ethereum (ETH), the first altcoin on Austin’s radar, is on the verge of a significant spike that could cause selling pressure. Austin emphasizes that the Chalapa/Shanghai upgrade, which will take place on April 12, will freely release a large amount of ETH staked in 2020. On this date, ETHs that have been locked for nearly two years will be unlocked. The analyst expects the currently staked 16% ETH supply to increase further post-raise.
Austin predicts that after the Shanghai upgrade, the total supply staked will rise to over 70%. This is comparable to other major protocols such as Cardano, Solana, and Binance Coin (BNB). He expects this to raise the price of Ether incredibly.
EOS (EOS)
The second coin on the list is EOS (EOS), which Austin calls the “Ethereum killer.” This altcoin project will launch an EVM (Ethereum Virtual Machine) on April 14, making it interoperable with Ethereum. Austin acknowledges that EOS is a tier one dApp platform that prioritizes dApp performance by offering faster transactions and lower gas fees than Ethereum.
EOS is known for its biggest ICO sale ever, raising over $4 billion, selling 1 billion EOS during the one-year ICO. Despite this success, it failed to live up to the expectations set by its founders and has since fallen out of favor with the community. However, with new leadership and a commitment to rebuild, Austin believes EOS could have the potential to become one of the best platforms in the future.
Fetch.ai (FET)
Fetch.ai (FET) was the AI coin choice on Austin’s list. The AI-driven crypto protocol has raised $40 million from market maker and investment firm DWF Labs to deploy decentralized machine learning, autonomous scripts and network infrastructure on its platform. cryptocoin.com We have included the details in this article.
Austin notes that the AI bull is steadily gaining strength in 2023, and that Fetch.ai’s tools for deploying and monetizing apps for developers can create economic value, thereby increasing its price.
PancakeSwap (CAKE)
PancakeSwap (CAKE) is the fourth altcoin that investors should watch out for in April. The decentralized exchange (DEX) will release its third version on April 8, which is supposed to improve the user experience and add new features.
Austin pointed out that PancakeSwap is the only coin among the top five DEX primarily with the Binance Smart Chain (BSC) ecosystem. He also stated that with the major centralized exchanges supporting Binance coming under regulatory fire, it’s time to look at DEXs like PancakeSwap.
Elrond (EGLD)
Elrond (EGLD), now known as Multiverse X, is the last altcoin on Austin’s list. Among the various events the tier one platform has planned for April are the launch of X Money and Twist Pay to become X Money on April 12 and the launch of the X Fabric module for individuals and brands on April 26.
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For the continuation of the article, Analyst Announced: FET and Betting on These 4 Coins in April!