Key highlights:

The cryptocurrency market is in a very unique position due to the upcoming Bitcoin halving and the COVID-19 pandemic

We selected 5 cryptocurrencies that will be highly interesting to follow in April

BTC, BCH, BNB, DGTX and RVN are our top coins to watch for April

The top 5 coins to watch in April

With Q2 getting underway, the cryptocurrency market is in a very unique position. The global uncertainty caused by the COVID-19 pandemic combined with the upcoming Bitcoin halving make it very hard to predict where the cryptocurrency market will be heading next. In this article, we'll present 5 cryptocurrencies that will be particularly interesting to follow in April.

1. Bitcoin (BTC)

Bitcoin is regarded as the world’s first decentralized digital currency, and was created in 2009 by a pseudonymous figure named Satoshi Nakamoto. Bitcoin is a deflationary currency whose issuance is capped at a total supply of 21 million coins. Bitcoin is the most popular cryptocurrency and is traded on various exchanges and is also used in peer-to-peer transactions.

Why Bitcoin?

As the first cryptocurrency and also the largest crypto asset by market cap, Bitcoin retains a large amount of influence over the cryptocurrency market and is also most likely to attract funds from more traditional sources. This was proved as the world’s financial markets tumbled in March due to the economic turmoil caused by the Covid-19 outbreak, while Bitcoin was quick to bounce back and outperform a wide range of stocks, bonds, and commodities.

April will see us move closer to the third Bitcoin halving projected to take place in May and the rewards for BTC mined per block will drop by 50% from 12.5 BTC to 6.25 BTC. The halving has been a catalyst for BTC bull runs in the past with the price climbing from $12 to $140 after the first halving in 2012, and from $582 to $20,000 after the second in 2016. As a result, all eyes will be on BTC in the run up to May.

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How to buy Bitcoin on Binance?

2. Bitcoin Cash (BCH)

Bitcoin Cash was created on August 1st 2017 as a hard fork of Bitcoin. While being very similar to Bitcoin, Bitcoin Cash uses a larger 8MB block size which allows each block to hold more transactions, and high profile supporters of Bitcoin Cash include Roger Ver, a well-known cryptocurrency investor who supported the proposal to increase the Bitcoin block size.

Why Bitcoin Cash?

Similar to the core Bitcoin (BTC) network, the Bitcoin Cash protocol also incorporates a halving mechanism, and the Bitcoin Cash halving is set to take place at block 630,000, which is projected to be mined on April 8. While we have two Bitcoin (BTC) halvings from 2012 and 2016 to look back on, the Bitcoin Cash halving should also prove to be a good indicator of market sentiment and what should be in store for the soon to follow Bitcoin (BTC) halving.

The miners’ reward will drop by 50% and fall from 12.5 BCH to 6.25 BCH per block, and is also set to take place at block 630,000, and to keep on top of things, and find out more about the Bitcoin Cash halving you can take a look at our overview.

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3. Binance Coin (BNB)

Binance Coin is a token used by the Binance exchange, and it enables customers to enjoy reduced fees when trading via BNB. In addition, it can be used to pay for exchange, withdrawal and listing fees, and for the first year, there was a 50% discount rate on trading fees, which dropped to 25% in the second year, and halves again in each of the subsequent two years.

Why Binance Coin?

Binance continues to grow an impressive rate and Binance Futures managed to reach the No.1 spot in terms of trading volume just last week. The exchange also has a number of new products and services on the horizon including a Debit Card, Loan Service, OTC Platform with support for 25 coins, a new fiat gateway in South Africa, and a new Mining Pool which supports both Proof of Work (PoW) and Proof of Stake (PoS) mining.

The exchange has also recently announced a partnership with Brave that lets users trade on Binance directly from a browser widget, alongside the acquisition of CoinMarketCap for a rumored $400m. The team are also said to be working with a number of IEO projects which can be expected to make use of Binance Launchpad over the rest of the year, and all these developments make BNB a coin to watch for April.

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4. Digitex Futures (DGTX)

The Digitex Futures Exchange allows traders to buy and sell futures contracts on various digital assets, commodities and financial instruments. All trades are fee free, and the DGTX token derives value as traders on the platform must have a balance of DGTX in order to place trades, and can also win or lose their DGTX.

Why Digitex Futures?

Much was expected from DGTX when the team announced their plans to launch a commission free futures exchange. However, some serious setbacks over 2019 saw the project lose ground and fall behind a number of players including Binance, Huobi, OKEx, and Deribit. The Digitex team have announced that they plan to launch their DFE Mainnet on April 27 and the mainnet launch will be open to a small group of traders before finally going live, and should help to stimulate the DGTX token as the exchange looks to make its mark on a sector that was generating over $40B in trading volume in early March.

5. Ravencoin (RVN)

Ravencoin is an open source project that is community-owned and has no owner, no company, no ICO and no pre-mine. RVN is designed for the tokenization and transfer of assets and incorporates features such as built-in messaging for token issuers and the option to automatically distribute dividends. Ravencoin is mined via a new algorithm known as X16r, which is ASIC resistant by design and helps to keep mining democratic and decentralized.

Why Ravencoin?

The project will fork in April to update the Proof of Work mining algorithm that restricts FPGA and ASIC miners while allowing GPU miners to take part in mining. A fork last year changed the mining algorithm to the X16Rv2 version which was eventually overcome as specialized mining hardware was adapted to the changes, and the new KAWPOW algorithm is a derivative of ProgPOW and has already been activated on Ravencoin's testnet.

The specific block time and expected date of the fork are still to be chosen, although the dedicated kawpowminer software can be downloaded from the project’s official Github and used on the Ravencoin testnet using the MinerMore mining pool.

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