Cryptocurrency analysis company Layergg has published the top six altcoins to watch for April.
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Jito (JTO)
Jito, a new project in the Solana ecosystem, is currently undervalued compared to its peers PYTH and JUP, according to the analytics company. Many projects are preparing for token launches this month, including Wormhole, Parcl, Zeus Network, Kamino Finance, Ionet, Tensor and Drift protocol. Combining features of Lido and Flashbots, Jito is considered one of the best LSTs in Solana.
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Ethena Labs (ENA)
According to the analysis company, Ethena Labs is being launched as the “Anchor x Luna” of this cycle with the high revenue it earned from $sUSDe. Actively supported by Arthur Hayes, the project is expected to gain traction as the importance of Key Opinion Leaders (KOLs) continues to grow. Ethena plans to add BTC as collateral, which could accelerate the Total Locked Value (TVL) increase and positively impact the ENA price.
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Biconomy (BICO)
According to the analytics company, the solution offered by Biconomy has been adopted by global companies such as JPMorgan and Mercedes Benz. The project recently received investment in a strategic funding round from Jump Capital and Manifold Trading, hinting at the possibility of market making. Although relatively under the radar, Biconomy has high interest in Real World Asset (RWA) tokenization.
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PENDLE
Pendle is considered the best proxy for Eigenlayer (Eigen-beta). Many restructuring projects are preparing for token launches, including Zircuit, Renzo, Puffer, Kelp, Swell and BedRock.
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Sui (SUI)
Sui is preparing for its first global conference “Sui Basecamp”, which will be held on April 10-11. The speaker lineup includes representatives from global companies such as a16z, Visa, VanEck and Red Bull. There are rumors that Sui may reveal significant catalysts similar to Aptos during the conference.
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Luna (LUNA)
The outcome of the case involving Luna's Do Kwon is expected to be announced in April. If the outcome is positive or Do Kwon continues his activities on Twitter, LUNA may experience upward momentum, according to the analytics firm.
*This is not investment advice.