- The Crypto market has shown a strong trend reversal over the last two weeks with Bitcoin and Ethereum taking charge.
- Here’s a look at the top five most attractive altcoins for the month of April 2022.
Over the last two weeks, the broader cryptocurrency market has shown a pretty good run-up that ended above $2 trillion. This comes with a strong rally in the price of Bitcoin as well as altcoins. As we start with April 2022, here’s a look into the top five altcoins which are worth a buy at the current levels.
1. Cardano (ADA)
Cardano’s ADA cryptocurrency has shown strong growth momentum in the last two weeks with the ADA price rallying more than 60 percent. Earlier this week on March 28, ADA touched a one-month high of $1.25. Furthermore, as we reported, Cardano is also seeing a rise in institutional demand as whales with high volume transactions are back.
One of the key developments is that Milkomeda has launched the Layer-2 rollups bringing Ethereum Virtual Machine (EVM) capabilities to Cardano. Thus, all EVM-compatible smart contracts will be able to easily access the Cardano infrastructure.
Furthermore, Cardano developers are working on the crucial Hydra upgrade later this year, a Layer 2 scalability solution for Cardano. Post the last years, Alonzo hardfork, DeFi activity on Cardano is also picking up. The Cardano blockchain attained a new milestone with the DeFi TVL crossing $300 million.
2. Binance Coin (BNB)
The Binance Coin (BNB) has been holding up its position in the top-five cryptos pretty strongly. Thanks to the low gas fee on the Binance Smart Chain (BSC). As of press time, BNB is trading at a price around $422 with a market cap of $69.6 billion.
Furthermore, Binance has recently launched the Binance Bridge 2.0. Meaning, the project developers can host all the Ethereum-native tokens on the Binance Bridge 2.0. The goal of this move is to make DeFi accessible to a larger audience. This will potentially increase the use of BNB tokens and will help in boosting up its price.
3. Solana (SOL)
After a strong correction earlier this year, Ethereum Layer-1 competitor Solana had a pretty nice runup over the last few weeks. Since mid-March 2022, the SOL price is up more than 50 percent in 15 days and is currently trading above $120.
The SOL price rally comes on the heels of fresh developments taking place in the Solana ecosystem. One of the biggest NFT marketplaces OpenSea confirmed that it will start listing Solana NFTs starting this month.
Furthermore, Solana joined hands with PUBG’s parent company Krafton to build and operate blockchain-based games on the Solana platform. Krafton noted that their partnership with Solana will help closer to the Web 3.0 ecosystem.
4. Terra LUNA
Terra Labs’ native cryptocurrency LUNA has had a pretty good runup over the last month as the LUNA price appreciated by 100 percent. As of press time, LUNA is strongly trading above $100 levels.
Well, the recent price rally happens as Terra is on a major Bitcoin accumulation spree. Terra founder Do Kwon has pledged to have more than $10 billion worth of BTC reserves to help the entire ecosystem. This move seeks to ensure the stability of the UST stablecoin. Earlier on Monday, Terra announced an additional purchase of $135 million worth of Bitcoin taking its total Bitcoin holdings to more than $1.5 billion.
5. Ethereum (ETH)
Everyone in the crypto town is talking about the much-awaited Ethereum Merge upgrade. “The Merge’ between the Ethereum execution layer and the consensus layer will happen sometime around June this year taking us closer to the launch of PoS Ethereum 2.0. This has created a lot of excitement around ETH and analysts expect its price to touch $10,000 by the year-end.