Crypto analyst Austin Arnold has identified five cryptocurrencies that investors should watch out for in April 2023. According to him, he expects these coins to experience significant events that could affect their market performance, making them potentially good long-term investment options for crypto enthusiasts.
The first coin on Austin’s radar is Ethereum (ETH). He highlights the Chalapa/Shanghai upgrade that will occur on April 12 will let Ethereum stakers freely withdraw their holdings since it is currently not possible. The move is expected to lead to more Ethereum staking, which at the moment stands at 16%.
Austin predicts that after the Shanghai upgrade, the percentage will increase to over 70%, which is comparable to other major protocols such as Cardano, Solana, and Binance Coin (BNB). He expects this to push Ether’s price incredibly higher.
The second coin on the list is EOS (EOS), which Austin refers to as the “Ethereum killer.” EOS is set to launch an EVM (Ethereum Virtual Machine) on April 14, which will make it interoperable with Ethereum. Austin acknowledges that EOS is a layer one dApp platform that prioritizes dApp performance by offering faster transactions and lesser gas fees than Ethereum.
EOS is known for holding the largest-ever initial coin offering (ICO), raising over $4 billion by selling 1 billion EOS over the course of a year-long ICO. Despite this achievement, the coin has not lived up to the expectations set by its creators, and the community has since fired its leadership. However, with new leadership and a commitment to rebuild, Austin believes that EOS may have the potential to become one of the top platforms in the future.
Fetch.ai (FET) is the third coin on Austin’s list. The AI-focused 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.
Austin notes that the AI narrative is continuously growing strong in 2023, and Fetch.ai’s tools for developers to deploy and monetize applications could generate economic value thereby pushing its price up.
PancakeSwap (CAKE) is the fourth coin that investors should watch out for in April. The decentralized exchange (DEX) is set to launch version three on April 8, which will supposedly improve user experience and add new features.
Austin pointed out that PancakeSwap is the only primarily Binance Smart Chain (BSC) ecosystem among the top five DEXs. He also noted that with major centralized exchanges that back Binance coming under fire regulatory-wise, it is time to look at DEXs like PancakeSwap.
Elrond (EGLD), now known as Multiverse X, is the fifth and final coin on Austin’s list. The layer one platform has several events scheduled in April, including the X Money and Twist Pay becoming X Money on April 12 and the X Fabric blockchain module for individuals and brands going live on April 26.
community has grown to over 25,000 members, which is significant given the recent rebranding and a sign that the crypto will experience a major surge in the very near future.