- Volatility was reintroduced into the crypto market in Q1, 2023.
- The trend was sustained despite a temporary consolidation midway into the quarter.
- MATIC, ETH, SOL, BNB, and ATOM make up the top 5 coins for this week.
It is the first week of April 2023 and the beginning of the second quarter. In the first quarter, the crypto market experienced a re-introduction of volatility, with prices discovering new yearly highs. The trend has been sustained even after a temporary consolidation period midway into Q1, 2023.
As we enter the beginning week of the new quarter, here are the top 5 coins that crypto traders and investors should watch out for.
MATIC is the native token of the Polygon blockchain, a protocol structured for Ethereum scaling and blockchain infrastructure development. It is one of the top performers in the initial crypto rally of Q1, 2023, after gaining over 108% of its yearly opening price to reach $1.5678. MATIC has since retraced and traded at $1.1088 at the time of writing, retaining a bullish sentiment supported by upcoming upgrades planned for later this month.
Read Also : Polygon (MATIC) Price Prediction 2023-2030
The Ethereum blockchain with the native token, ETH, is the largest altcoin by market capitalization. After transitioning from the Proof-of-Work (PoW) consensus mechanism to the more scalable Proof-of-Stake (PoS) algorithm, the project will initiate a new upgrade called the Shanghai upgrade to allow stakers to withdraw their stakes without restriction. It is planned to happen this month, and crypto users are already buying ETH to prepare for the new dispensation.
Read Also : Ethereum (ETH) Price Prediction 2022-2030
Solana stormed the DeFi industry with an exceptional transaction speed that encouraged a massive adoption of the blockchain at the peak of the last bull run. After retracing with the bear crypto market of 2021/2022, SOL, the blockchain’s native crypto, joined the majority of the market to surge at the beginning of 2023. SOL’s price reached a yearly high of $27.12, reflecting a gain of over 174%. The price has consolidated to trade at $20.42 at the time of writing, with a bullish sentiment that could push SOL higher as the new quarter begins.
Read Also : Solana (SOL) Price Prediction 2023-2030
Binance Coin (BNB)
BNB is the native token for the Binance Smart Chain, an ecosystem that has grown in sync with the parent Binance exchange. BNB is the fourth largest cryptocurrency, according to data on CoinMarketCap. The 2023 price recovery saw BNB gain over 42%, reaching a yearly high of $347. The price has retraced to $312 while sustaining a bullish sentiment that could lead to a significant rally as the new quarter sets in.
Read Also : Binance Coin (BNB) Price Prediction 2023-2030
ATOM represents the native currency of the Cosmos, the first public PoS blockchain protocol built on top of Tendermint. ATOM currently ranks as the 22nd largest cryptocurrency on CoinMarketCap, with a market capitalization of $3.19 billion. ATOM gained over 66% in the initial price rally of 2023 and reached a yearly high of $15.444. Its price at the time of writing is $11.129 after consolidation, ahead of the new quarter when it promises to begin with a notable price rally.
Read Also : Cosmos (ATOM) Price Prediction 2023-2030
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.