This article will study 10 cryptocurrencies, which may have unexpected developments in April, which may also have a positive impact on their prices.
Ethereum (ETH)
- Current price: $1938
- Market value: $223.5 billion
- Market value ranking: 2
Ethereum is a decentralized open source blockchain that uses its native token ETH.
More importantly, ETH is a platform for several other cryptocurrencies. It supports the execution of smart contracts and the construction of decentralized applications (dApps).
In addition to smart contracts and dapps, Ethereum's blockchain can also use its ERC-20 compatible standard to host other cryptocurrencies. These are called tokens, and so far, more than 280,000 such tokens have been launched, including LINK and BNB.
Ethereum's hard fork is scheduled to take place on April 14. The fork is named "Berlin fork" and will appear at block height of 12,244,000.
Although it was originally planned to be implemented in mid-2020, it was delayed due to some centralization issues.
The Berlin fork will include many optimizations, especially for gas fees, potential DDOS attacks, and updates on how the Ethereum virtual machine reads code.
As for its price movement, ETH has been rising since it retested its previous all-time high on February 28.
ETH chart source: TradingView
IOTA (IOTA)
- Current price: $1.58
- Market value: $4.38 billion
- Market value ranking: 28
IOTA is a distributed ledger that enables the secure exchange of data and value without paying fees.
The native token is IOTA, and its ultimate goal is to allow humans and devices to exchange services and data.
The largest update in the history of the network will start in April. It is named "Chrysalis" and it will improve wallets, software implementations, libraries and protocols. In addition, it will lay the foundation for future functions such as tokenization and smart contracts.
The start date of "Chrysalis" upgrade is set on April 21, and the transition date is set on April 28.
As for the price trend, from the data point of view, IOTA has fallen below the US$1.52 mark after breaking through the US$1.52 mark.
IOTA chart source: TradingView
Skale (SKL)
- Current price: $0.729
- Market value: $481 million
- Rank by market capitalization: 137
SKALE Network is an open source platform designed to extend dApps to the real world. The SKALE Innovator Program is developing more than 100 dapps.
This is a project of a decentralized economic network foundation. The foundation supports the network by electing representatives and validators to run the SKALE chain and nodes.
The local token is SKL, which has use cases in network locking, payment and governance.
Although SKL is a token with a small market value, it is still the 9th largest cryptocurrency asset in terms of its mortgage value. This means that only 8 projects have a mortgage value exceeding SKL.
The new mortgage era will begin on April 1, and may further increase the value of SKL's mortgage.
As for price movements, SKL has been falling since it reached its all-time high of $1.244 on March 13. However, it just bounced above the 0.618 Fibonacci retracement support at $0.51.
SKL chart source: TradingView
Elrond (EGLD)
- Current price: $140
- Market value: $2.46 billion
- Rank by market capitalization: 49
Elrond is a protocol designed to provide exceptionally fast transaction speed through its sharding mechanism (ie adaptive state sharding). This mechanism combines the advantages of three different fragmentation types to improve the communication between them.
The local token is called EGLD. It has three main purposes: staking, paying fees in the network, and rewarding validators.
Elrond's DeFi 2.0 module will be released on April 9. It will provide six new components:
- Elrond NFT standard
- Launchpad
- Swap
- Synthetics
- Bridge
Each of these components will focus on improving important issues, mainly in the banking industry. Moreover, each one will be built by an independent team.
As for its price movement, EGLD just broke through the descending resistance line.
EGLD chart source: TradingView
Swipe (SXP)
- Current price: $3.6
- Market value: $250 million
- Ranking by market capitalization: 181
Swipe is a platform that wants to connect the world of cryptocurrency and fiat currency. It offers three main products:
- Swipe wallet-allows users to store assets.
- Swipe debit card-provides users with an easy way to spend their cryptocurrency.
- Local token-SXP, used for trading and powering the Swipe Network
The second version of the Swipe wallet will be released in April 2021. In addition, it will improve Layer 2's expansion solution and allow DEX transactions.
The wallet is already available in the Apple App Store.
As for its price trend, since the decline started on March 20, SXP may be trading in a parallel ascending channel.
SXP chart source: TradingView Qtum (QTUM)
- Current price: $10.42
- Market value: $1.074 billion
- Rank by market capitalization: 93
QTUM is a public proof-of-stake blockchain platform that can realize smart contract coding, deployment and execution. It is also a platform for decentralized applications (dApp), which allows to modify its settings.
Its hard fork will be launched on April 30, just before the 845,000 block height. It will provide numerous updates, such as:
- Block time reduced to 32 seconds
- Improve the responsiveness of the GUI
- Provide efficient new mortgages
- Fix bugs related to wallet, GUI call contract and text box link
As for the price trend, QTUM's gains have been stagnant since March 26, but its price is still higher than the previous resistance level of $7.65.
QTUM chart source: TradingView
Coti (COTI)
- Current price: $0.45
- Market value: $300 million
- Market value ranking: 185
COTI is a platform that allows companies to easily build and become the sole owner of their payment solutions.
It provides many elements that are essential to an effective payment infrastructure, including but not limited to scalability, simplicity, security, and protection of both parties to transactions.
In April, COTI will launch a 3.0 mortgage update. Among them, the capacity of each community node will increase from 7 million to 8 million COTI. This will allow new participants to enter the network and will provide upgrades for existing pledgers.
In addition, there will be new mortgage activities on KuCoin.
As for its price movement, COTI seems to be trading within a very large symmetrical triangle pattern.
COTI chart Source: TradingView
Centaur (CNTR)
- Current price: $0.02
- Market value: 17.41 million US dollars
- Market value ranking: 808
Centaur is an ecosystem that aims to connect the current financial system with the economy of decentralized finance. The purpose of the agreement is to solve the interoperability problem between different blockchains.
In the next few weeks, Centaur will have several important events to happen.
On March 31, the Centaur wallet will be launched. It is a DeFi compatible wallet, with special emphasis on user experience and interface.
Centaur LP will be released on April 14. It is an automated market maker (AMM) that uses single-sided riveting to provide liquidity.
Finally, Centaur Chain, the official mainnet of Centaur, will be launched on April 28.
As for its price movement, CNTR seems to have been following the rising support line since January 16.
CNTR chart source: TradingView
Enjin Coin (ENJ)
- Current price: $2.54
- Market value: $2.38 billion
- Market value ranking: 50
Enjin Coin (ENJ) is a cryptocurrency designed specifically for the gaming industry. More specifically, it involves gaming products and their tokenization.
Another use of ENJ is to create and support the value of non-fungible tokens (NFT).
On April 6, ENJ will release JumpNet, a bridge network that can speed up transactions on the chain.
As for its price movement, ENJ broke the downward resistance line and subsequently confirmed it as a support level.
ENJ chart source: TradingView
Stater (STR)
- Current price: $1.67
- Market cap: N/A
- Market cap level: N/A
Stater is an open source lending platform for NFTs. It allows users to utilize their assets while still maintaining ownership of their assets.
The "Lydian Update" is expected to be launched on April 16. This will allow Statuser products to enter the mainnet. This is the next step after three months of development work in Rinkeby.
Stater has also established partnerships with Polygon (MATIC) and many other projects.
As for price movements, STR hit a record high on March 28.
STR chart Source: TradingView
In the fresh start of April, let us look forward to the wonderful performance of these 10 cryptocurrencies!