April Pick: Cosmos (ATOM)
Cosmos exists to create a network of established crypto networks. It helps to foster an ecosystem within which networks can share information, be it regarding blockchain, data, tokens or other things.
The broad range of appeal stemming from Cosmos makes us excited about the potential for it going forward. It’s also a play on the crypto rebound in general. If the sector performs well in Q2, Cosmos will naturally feel this benefit due to increased activity on the ecosystem. The native coin, ATOM, should see an uplift in price as a result.
Therefore, unlike more niche altcoins, we think that Cosmos is a more reliable play for coming months. Although no coin is what we would call a safe play, we think this is lower risk than other options.
Finally, even if we do have to sit on the coin for a while before seeing results, the 5% yield on Coinbase right now makes it an attractive alternative to lower yielding alternative assets.
April Pick: Ethereum (ETH)
Ethereum is a community-run technology powering the cryptocurrency Ether (ETH) and thousands of decentralised applications. Ethereum has the second largest market cap at $386B, just under half that of Bitcoin’s.
Ethereum fell 55% from highs that were set back in November last year. After a period of consolidation from January to March, Ethereum is now breaking out to higher prices. This is relatively the same story for crypto currencies as a whole.
Ethereum ran from $2,500 to over $3,500 in about 3 weeks. It has pulled back and sits just above the 50EMA. This is an area I look for pullbacks in to enter swing trades. If crypto is to keep this momentum that we’ve witnessed over the last month, I think Ethereum will be making another move up soon. $4,000 would be a target throughout April.
April Pick: ApeCoin (APE)
APE is a recently launched token belonging to Yuga Labs, the owner of the Bored Ape NFT collection. Yuga Labs has been in the news recently as the company announced in March that it had acquired both CryptoPunks and Meebits NFTs. This was a significant milestone in the NFT market, as Yuga Labs now possess the three most valuable NFT collections, becoming the runaway leader in this space.
Following the acquisition announcements, APE was launched and saw a rapid take-off in its price up to a high of ~$17. Following the recent pull back across crypto markets, the current price is sitting at $11, which we believe could be an attractive entry point.
Yuga Labs has ambitions plans across the crypto space, touching on NFTs, token launch, play-to-earn games, and celebrity endorsements. The expectations are that APE popularity and adoption will increase significantly as the depth and breadth of the community develops. APE represents an interesting play that offers slightly different dynamics to the more traditional coins and tokens.
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