Altcoins See 69% Gains in April

April 27, 2020

April has been a strong month for some altcoins available through Change. We’d like to review the top-performing cryptos and try to see why they may have been doing so well:

Chainlink (LINK) - up 69.9% since April 1st.

Decentralized finance, also known as DeFi, now holds over 1B in assets and continues growing fast. These assets are distributed between a wide range of decentralized smart contract applications, called dApps, across different blockchains. dApps require data feeds and oracles that connect smart contracts and blockchains to real-world data. Companies like Chainlink provide these data feeds and oracles to smart contract apps in order for them to run properly.

Chainlink is solving a complex problem, making it difficult for many to really understand whether there is real value to it. It helps when big names in the industry start doing something similar. Coinbase recently announced their own price oracle service, largely addressing the same problem. This gives strong validation to Chainlink as the first mover in a rapidly expanding space.

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Tezos (XTZ) - up 68.9% since April 1st

Tezos is a rival blockchain to Ethereum and it continues to make waves by partnering with big players in the real estate investment industry; it’s tokenizing hundreds of millions of dollars worth of real estate on the way.

The network recently underwent a successful network upgrade named “Carthage”. The upgrade improved the rewards for Tezos users by staking the coin for a reward, as well as a big performance improvement allowing the network to carry a much larger load. Ethereum is being challenged enough that it could worry about it’s lead.

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Cardano (ADA) - up 56.4% since April 1st

It’s a major deal for blockchains to offer a flagship wallet that the community can rally around. Cardano, a network taking pride in being the most secure blockchain, recently announced their brand-new Cardano crypto-wallet with notable improvements in usability, speed, and security.

This move was long-awaited by the Cardano community. Since its recent implementation, the coin’s users have offered extremely positive feedback.

Start trading Cardano