Altcoin season is upon us. Several altcoins have been hitting new all-time highs while others are posting incredible price increases. Altcoin Daily has compiled a list of the top 15 altcoins to watch out for in the current bull market, especially in April.
DeFi tokens top the list again
The era of decentralized finance (DeFi) continues, with most DeFi platforms setting new records this year. According to Aaron Arnold, Altcoin Daily founder Yearn Finance (YFI) is among the altcoins to watch out for. Yearn Finance has now exceeded $ 2.5 billion in total locked value.
Yearn has passed $ 2.5 billion in TVL pic.twitter.com/8VBFtysdNa
– banteg (@bantg) April 7, 2021
“The fact that the total locked value is so large shows that trust is increasing in this DeFi protocol. And trust is so important in any cryptocurrency. Most cryptocurrencies, most DeFi projects, don't have it. But one metric with which we can track it is how much value people are willing to set in the project. "
Aaron is also bullish on Uniswap, one of the leaders in DeFi. The platform recently recorded an all-time low in 7-day trading entry volume at 25 million UNI. As Altcoin Daily observes, this metric almost always indicates an increase in the price of the cryptocurrency.
NFTs making waves
Non-fungible tokens have been making waves in the mainstream arena, garnering endorsement from various celebrities. One of the platforms leading the charge is Bondly Finance. He recently teamed up with hip-hop star Tekashi 6ix9ine to release two new collectible art pieces from NFTs. Tekashi will release the two 3D animations today (April 9), which are based on their first two studio albums.
RedFOX Labs, a Vietnam-based tech company, also recently revealed that its RFOX token will be listed on the Bittrex exchange. RFOX was only available on Uniswap, but is now looking to expand its reach in the market. RedFOX launched its NFT Marketplace in February, allowing users to seamlessly exchange digital collectibles.
The global fast food conglomerate McDonald’s is also joining the NFT sector. McDonald’s France recently revealed that it would launch NFTs for its most popular menu items. The company teased on Instagram that the first two NFTs would represent a box of Chicken McNuggets and its most famous item, the Big Mac. McDonald’s NFTs will be available on OpenSea, one of the main markets for NFTs.
– McDonald’s France (@McDonaldsFrance) April 6, 2021
American football legend Tom Brady is also getting into the NFT. Brady will join executive advisers from Apple, DraftKings and Spotify to launch Autograph, a new NFT platform. There is not much information available about the platform, but it is more likely to be on the Ethereum blockchain.
Ethereum and Bitcoin
All the hype about NFTs makes Ethereum one of the best cryptocurrencies to invest in. Ethereum rules the NFT sector, with an overwhelming majority of NFT markets built on its network. In addition to NFTs, couples now they also get married on Ethereum.
"How not to be bullish on Ethereum? If all of this was happening in Bitcoin, you know that the Bitcoin maximalists would be promoting this as simply attracting so many people to the Bitcoin space. But it is happening on Ethereum. There is a lot going on in Ethereum ”.
Bitcoin is still just as important, Altcoin Daily believes. While Altcoins have been getting all the hype, the flagship cryptocurrency is still king and investors should strive to accumulate as much as they can, Aaron claimed.
“In my opinion, the name of the game is to accumulate as much Bitcoin as possible. When it comes to asymmetric opportunities, risk-adjusted investment, Bitcoin is the best. I think some altcoins will make it through in the end and obviously altcoins are great for making massive profits, but don't lose sight of the big picture. Bitcoin is literally digital gold. "
Other currencies to watch out for include Litecoin, which always performs well in any bull market; Stellar Lumens, in which music star Akon is building his crypto-cities; Elrond Network, which has gained a number of new partners; LTO Network, which has attracted several large investors; and Chainlink, which is now a member of Grayscale's Digital Large Cap Fund.
(embed) https://www.youtube.com/watch?v=6jS1IOGrzMM (/ embed)