CoinEfficiency

Top 5 Cryptocurrencies to Buy and Hold in April 2023

Discover the top 5 cryptocurrencies to invest in April 2023, featuring Ethereum, EOS, Fetch.ai, PancakeSwap, and MultiversX, based on significant ecosystem events.
Published on 2023-04-03

Ethereum (ETH) and the Shapella Upgrade

April 2023 marks a pivotal moment for Ethereum with the Shapella Upgrade, a merger of the Shanghai and Capella upgrades, set to occur on April 12. This update allows ETH stakers to withdraw their tokens without restrictions, potentially increasing staking interest and demand for Ethereum. As the second-largest cryptocurrency, these changes could enhance its market appeal.

EOS and EVM Launch

EOS is set to launch its Ethereum Virtual Machine (EVM) on April 14, enabling interoperability with the Ethereum blockchain. This event aims to rejuvenate user interest and enhance the network’s functionality, addressing prior disappointments. The EVM launch positions EOS for renewed momentum in the crypto market.

Fetch.ai and AI-Driven Growth

Fetch.ai stands out for its strong focus on AI, having secured $40 million to deploy decentralized machine learning. The platform offers tools for developers to create and monetize applications through an autonomous machine-to-machine ecosystem. With AI narratives gaining traction in 2023, Fetch.ai is poised for significant growth.

PancakeSwap's V3 Upgrade

Scheduled for April 8, PancakeSwap's upgrade to version 3 is a major development for this top decentralized exchange (DEX) token. As the fourth largest DEX by market capitalization and the only non-Ethereum-based token among its peers, PancakeSwap is strategically positioned to benefit as centralized exchanges face scrutiny.

MultiversX and Ecosystem Expansion

Formerly known as Elrond, MultiversX anticipates significant ecosystem events in April. The merger of UTRUST and Twispay into XMoney on April 12, along with the launch of XFabric on April 26, is expected to bolster the platform. These developments are set to enhance MultiversX's ecosystem and boost the performance of its native token, EGLD.

These strategic developments across various cryptocurrency ecosystems highlight the potential for growth and innovation, making these tokens top picks for investors in April 2023.

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