April 2024 Market Analysis: Top 10 Cryptos

The Fourth Halving just occurred in the Fourth month of 2024 reshaping the crypto market but spreading more insecurities. What will happen to cryptos now? Will prices crash or will new ATH prices be reached? Let's analyze in this crypto analysis article.

1- Bitcoin (BTC)

Bitcoin (BTC) remains the largest cryptocurrency by market capitalization, standing at $US1.25 trillion. Introduced in 2009, Bitcoin operates on a decentralized blockchain, secured through proof of work. Since 2016, Bitcoin's price surged from $US500 to approximately $US63,750, showcasing substantial growth.

2- Ethereum (ETH)

Ethereum (ETH), valued at $US367 billion, serves as both a cryptocurrency and a blockchain platform for smart contracts and NFTs. Its price escalated from $US11 in 2016 to around $US3,050 in April 2024, representing a remarkable increase of 27,627%.

3- Tether (USDT)

Tether (USDT) stands as a stablecoin pegged to the US dollar, boasting a market cap of $US109.6 billion. This stable value attracts investors seeking consistency amidst crypto volatility.

4- Binance Coin (BNB)

Binance Coin (BNB), valued at $US83 billion, originated as a utility token for Binance exchange but expanded into diverse use cases like payment processing and trading. BNB witnessed exceptional growth, rising from $US0.10 in 2017 to approximately $US557 by April 2024.

5- Solana (SOL)

Solana (SOL) operates as a high-performance blockchain platform, processing transactions at remarkable speeds using Proof of History consensus. SOL's market cap reached $US64 billion, with its price soaring from $US0.22 to $US143 since its ICO.

6- USD Coin (USDC)

USD Coin (USDC) mirrors the value of USD, facilitating global transactions across multiple blockchains, with a market cap of $US33.8 billion.

7- XRP (XRP)

XRP, created by Ripple founders, facilitates currency exchanges within the Ripple network. Its price surged from $US0.006 in 2017 to $US0.50 in April 2024.

8- Dogecoin (DOGE)

Initially a meme-inspired coin, Dogecoin (DOGE) gained prominence and a market cap of $US22.5 billion, witnessing an impressive surge from $0.0002 to $0.1567.

9- Toncoin (TON)

Toncoin (TON) powers The Open Network (TON), aiming for rapid transactions and scalability. TON's price grew while securing a $21 billion market cap.

10- Cardano (ADA)

Cardano (ADA) embraces proof-of-stake validation, prioritizing transaction speed and energy efficiency. ADA's price surged with a market cap of $US17.1 billion.

With one week left of April 2024, only numbers will tell if the current speculation will come to life or remain a theory.