Crypto Analyst Identifies the 5 Best Tokens to Hold in April 2023
- The identified tokens include ETH, EOS, FETCH, CAKE, and EGLD.
- The coins are classified based on the significant events around their ecosystem in April.
Hosts of the popular crypto YouTube channel Altcoin Daily have identified the top 5 cryptocurrencies to buy and hold in April 2023. The coins are classified based on the significant events around their ecosystem in the month under consideration. Altcoin Daily’s projected big movers for April 2023 include Ethereum (ETH), EOS (EOS), Fetch.ai (FETCH), PancakeSwap (CAKE), and MutiversX (EGLD).
The channel’s host identified the Shapella Upgrade, a combination of the Shanghai and Capella Upgrade, as the most significant event in the blockchain industry in April. The blockchain industry expects the upgrade to happen around 6:30 pm UTC on April 12, 2023. The upgrade will allow ETH stakers to withdraw their staked tokens without restriction. Hence, there is an expectation that more users will be willing to stake ETH tokens, leading to increased demand for the second-largest cryptocurrency by market capitalization.
The Altcoin host indicated the EVM launch on EOS as another significant event in the crypto industry in April. The launch is slated for April 14, 2023, and would make the EOS protocol interoperable with the Ethereum blockchain. The host expects the upgrade on EOS to rejuvenate the vibe on the network after a general feeling of disappointment from users who expected more from the project.
Fetch.ai makes the list of Altcoin Daily’s top 5 cryptos for April after raising $40 million to deploy decentralized machine learning. According to the host, there is a strong AI narrative in 2023, and Fetch.ai aims to provide the tools for developers to deploy and monetize applications via an autonomous machine-to-machine ecosystem.
On April 8, 2023, PancakeSwap will upgrade to version 3, and the Altcoin Daily host considers that a huge update. The project already ranks fourth among the top DEX tokens by market capitalization. It is also the only non-Ethereum-based DEX token among its peers. With CEXs coming under fire, the channel’s host believes that many Binance native project coins could switch to the DEXs, and PancakeSwap is positioned strategically for the moment.
The final coin on Altcoin Daily’s list is MultiversX, formerly Elrond. On April 12, 2023, two of the top DApps in the MultiversX ecosystem, UTRUST and Twispay, would merge to become XMoney. Later in the month, on April 26, XFabric, another major DApp, would go live on the blockchain. The channel’s host expects these events to impact MuliversX significantly and boost the performance of its native token, EGLD.