Several altcoins are reaching all-time highs as the cryptocurrency market has seen price increases in general.
Accordingly, there is an increase in estimates that the “altcoin season” is coming. Popular analyst known as Altcoin Daily also compiled a list of altcoins that should be tracked in the current bull market, especially in April.
The decentralized finance (DeFi) craze continues, and most DeFi platforms are breaking new records this year. According to Altcoin Daily’s founder Aaron Arnold, Yearn Finance (YFI) is among the altcoins to consider. Yearn Finance currently locked-in total value (TVL) has exceeded $ 2.5 billion.
“The greater the total locked-in value shows that confidence in this DeFi protocol is growing. And trust is very important in any cryptocurrency. Most cryptocurrencies, most DeFi projects do not have this. However, one criterion we can follow is how much people value the project. ”
Aaron also looks forward to rising in Uniswap, one of DeFi’s leaders. The platform recently recorded an all-time low in 7-day foreign currency inflow volume at 25 million UNI. As Altcoin Daily observes, this metric almost always points to a price increase for the cryptocurrency.
Besides, Non-fungible tokens are becoming “crazy” just like the DeFi market. One of the leading platforms in pricing is Bondly Finance. He recently teamed up with popular hip-hop star Tekashi 6ix9ine to launch two new NFT collectible artworks.
RedFOX Labs, a Vietnam-based technology firm, recently announced that its RFOX token will be listed on the Bittrex exchange. RFOX was only available on Uniswap, but now wants to expand its market reach. RedFOX launched the NFT market in February, allowing users to trade digital collectibles without hassle.
Global fast food company McDonald’s is also joining the NFT sector. McDonald’s France recently announced that it will release NFTs for the most popular menu items. The company said on Instagram that the first two NFTs will represent a box of Chicken McNuggets and its most famous item, Big Mac. McDonald’s NFTs will be available in OpenSea, one of the leading NFT markets.
American football legend Tom Brady also enters the NFT market. Brady will work with Apple, DraftKings and Spotify executive consultants to launch Autograph, a new NFT platform. There is not much information about the platform, but it will likely be found on the Ethereum blockchain.
All the “hype” on NFTs makes Ethereum one of the best cryptocurrencies to invest in. Ethereum dominates the NFT industry and the overwhelming majority of NFT markets are built on its own network.
Altcoin Daily also believes Bitcoin is still just as important. With altcoins getting all the attention, Aaron said, Bitcoin is still king and investors should strive to save as much as they can.
“For me, the name of the game is to accumulate as much Bitcoin as possible. When it comes to risk-adjusted investment, Bitcoin is the best. I think some altcoins will eventually succeed, and frankly, altcoins are great for big gains, but don’t miss the big picture. Bitcoin is literally digital gold. ”
Other cryptocurrencies to consider are Litecoin, which has always performed well in any bull market, Stellar Lumens, the Elrond Network, which has won a number of new partners, LTO Network, which attracts several big investors, and Chainlink, now a member of Grayscale’s Digital Large Cap Fund.