2 Best Cryptocurrencies to Buy in April

by Arthur · April 9, 2023

Investing in cryptocurrencies can be a wild ride, but for those willing to take the risk, the rewards can be astronomical. Blockchain networks and the game-changing apps you can build around them can disrupt traditional financial systems. As crypto-based apps and ideas move closer to the global mass market, early stage investors are facing some exciting opportunities to make money right now.

I will walk you through two popular cryptocurrencies to buy in April 2023: Cardano (ADA 0.70%) and Ethereum (ETH -0.53%). These coins are already established winners and are currently making moves to keep winning streaks going. Their potential for growth and innovation is hard to ignore.

Before we go any further, you should know that investing in cryptocurrencies is not a get-rich-quick scheme. Instead, you should see it as a long-term wealth-building exercise where time, patience and innovation add up to a lot of money in your pocket. Gadflies that promise you instant cash crops are often relegated to the footnotes of cryptocurrency history very quickly. A lucky few might sell at the top to lock in a sudden rising crypto price, but most will miss that opportunity and end up losing a lot of money.

So I can’t promise that Cardano or Ethereum will skyrocket next month, this summer, or in 2024. What I can say is that they seem to be setting the stage for potentially gigantic gains in the long run.

So if you’re ready to join the crypto revolution and make some patient investments in the future of finance, read on to learn more about Cardano and Ethereum – and why they look like primo investments right now.

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Cardano’s EMURGO fund emerges

First, let’s talk about Cardano, a sophisticated cryptocurrency that has been making some noise in the market lately. The current price is $0.38 per token, which is up 57% since the beginning of the year.

Looking ahead, there is a lot happening in the Cardano community. One event garnering attention is the upcoming Cardano Summit 2023, a massive conference in Dubai that will draw over 10,000 attendees with a variety of speakers from the Cardano team, developers, entrepreneurs and investors. Exciting stuff, for sure, and the industry connections made at this meeting could very well result in promising future developments

But in my eyes, it’s not even Cardano’s main event this month.

Instead, the real game changer is a new $100 million project development fund being launched by the Cardano Foundation, managed as two separate investment entities named EMURGO Ventures and EMURGO Africa.

The EMURGO fund will support projects that build on Cardano by providing grants, investments and other forms of support, helping to drive innovation and growth within the Cardano ecosystem. In this way, the foundation supports actual developers who take advantage of Cardano’s sophisticated and multi-layered smart contract platform to create consumer-facing decentralized finance tools, online games and other projects.

That monetary support is a great way to add serious value in the Cardano ecosystem. Not every idea will be a winner, but the successful projects can deliver enormous long-term value to Cardano and its owners. The investment vehicles were announced six months ago and are currently rolling out and starting to make a difference. Several EMURGO-funded projects are already underway, and the potential benefits for the Cardano ecosystem and investors are enormous.

Therefore, EMURGO is already making a difference.

In addition to the fund launch, the Cardano team is working on a number of new features and updates, including an advanced scaling system called Hydra and the development platform Plutus smart contracts. Together, these features will make Cardano more scalable, secure, powerful and efficient. They will also help developers build decentralized applications on Cardano, opening up new opportunities for growth and innovation. With all these exciting developments going on, Cardano is definitely a cryptocurrency to watch in April 2023.

Ethereum is going to Shanghai soon

I am sure you are already quite familiar with Ethereum. After all, everyone is talking about this mature, influential and highly valuable cryptocurrency. They have been doing it for years now. And the chip is rolling this year; at a current price of $1,872 and a total market cap of $224 billion, this leading smart contract token has gained 55% in 2023.

No matter how well-known Ethereum may be, you may not be completely up-to-date with everything that’s happening in this vibrant ecosystem. Honestly, it’s a lot.

The upcoming Ethereum Shanghai Hard Fork, scheduled for April 12, 2023, will be an important milestone for Ethereum, as it will put the finishing touches on Ethereum’s transition to proof-of-stake. You know, the game-changing platform update that started with the so-called Merge in 2022. That was an important move, but Ethereum’s evolution continues with more upgrades that build on the foundation that the Merge provided.

Shanghai is a significant upgrade to the Ethereum network that will improve scalability, security and ease of use. Account abstraction is a key result of this update, providing better support for smart contract wallets that help users safeguard their digital assets and stay in control of their data. Smart contract wallets are an important part of Ethereum’s future direction – and the entire crypto industry. Don’t forget that Ethereum has a history of blazing paths for others to follow.

Furthermore, the scaling solution known as rollups will further speed up the transaction and reduce fees for end users. The fun but stone-cold serious proto-danksharding upgrade is the next building block that is currently being tested and readied for deployment in the second half of 2023. With this improvement – itself only a stepping stone to even more ambitious scaling and sharding – solutions in the long run — transaction costs will become even cheaper, enabling more widespread use of Ethereum.

Currently, rollups are already up to 8 times cheaper than the regular Ethereum transactions, but soon they will be able to make them even cheaper by a factor of 40 to 100 times. That means that in the near future, users could pay less than a tenth of a cent for an Ethereum transaction. Reducing costs to near zero is an effective way to increase adoption of new technology in the mass market, and Etherum is moving quickly in that direction.

As you can see, there are some potentially game-changing updates bubbling just below the surface of the Ethereum network. The Shanghai fork probably won’t send token prices to the moon right away, but it paves the way for a brighter, bolder, and more valuable future for Ethereum owners.

Don’t miss out on these winners

In conclusion, Cardano and Ethereum are two cryptocurrencies that offer exciting potential for growth with some seriously innovative developments in the near term. Both are making significant progress in development and commercialization, supported by strong local communities. With upcoming events and major upgrades on the horizon, consider picking up some Cardano and Ethereum tokens this month as long-term investments in the future of finance.