Cryptocurrency analyst Austin Arnoldshared the altcoins that should be followed closely in April 2023. According to the analyst, important events that may affect market performances are very close. This makes them potentially good long-term investment options for crypto enthusiasts.
Ethereum (ETH)
The first altcoin on Austin’s radar Ethereum (ETH). Austin emphasizes that the Chalapa/Shanghai upgrade, which will take place on April 12, will allow ETH stakers to freely withdraw their holdings as it is not currently possible. This move is expected to lead to a further increase in its shares, which is currently 16%.
Austin predicts that after the Shanghai upgrade, this rate will increase to over 70%, comparable to other major protocols such as Cardano, Solana, and Binance Coin (BNB). He expects this to increase the price of ETH incredibly.
EOS (EOS)
The second altcoin on the list is what the analyst calls the “Ethereum killer.” EOS (EOS). EOS will launch an EVM (Ethereum Virtual Machine) on April 14, making it interoperable with Ethereum. Austin acknowledges that EOS is a first-tier dApp platform that prioritizes dApp performance by offering faster transactions and lower gas fees than the ETH network.
EOS sold 1 billion EOS during the one-year ICO, raising over $4 billion, making it the most fundraising project with the ICO. Despite these important successes, the so-called “failed” managers were replaced and new ones came. 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) is the third altcoin 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 agents and network infrastructure on its platform.
According to the analyst, with the increase in expectations for artificial intelligence, its development will continue. This can also find a response in artificial intelligence-oriented altcoin prices.
PancakeSwap (CAKE)
PancakeSwap (CAKE) became the fourth altcoin for investors to watch out for in April. The third version, which is supposed to improve the decentralized exchange (DEX), user experience and add new features, is expected to be released on April 8.
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), dubbed Multiverse X, is the fifth and final 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 blockchain module for individuals and brands on April 26.
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