April was a great month for the cryptocurrency market. It marked the end of the long-running bear market that wiped out extensive gains made in the previous year. Some of the altcoins that recorded massive gains include Cardano (ADA), Tron (TRX), and Eos (EOS).
EOS, Cardano and Tron managed to dominate the list of top cryptocurrency gainers ss the market reversed sending values soaring. The three altcoins managed to gain more than 100%. This was impressive and advantageous especially for those that had invested in them. They also managed to outperform some of the major cryptocurrencies such as Litecoin (LTC) and Ethereum (ETH).
The performance of EOS was quite impressive in April. It posts a rise past its previous all-time high of $18 which was recorded in January this year, thus achieving a new all-time high of $22.89. The trading volume of the altcoin also experienced a serious uptick of 915% in April of this year compared to April of 2017.
The growing interest from the investor community may be leading to the recently impressive EOS performance. This has come to be through the announcement of a mainnet launch. It may have also resulted from positive sentiments fueled by reports of a listing on one of South Korea’s major exchanges, Upbit. A third option is the announcement of a joint venture involving Block.One.
Tron’s impressive performance in the past month has also been attributed to growing interest from the investor community especially in light of its upcoming blockchain upgrade. This overhaul will focus on a highly anticipated mainnet for Tron, meaning the cryptocurrency will finally migrate from the Ethereum blockchain.
Tron developers also revealed in April that they had plans for an airdrop through which the Ethereum community would receive 30 million TRX. There is belief that the surge in price of the cryptocurrency is a direct result of this announcement.
Cardano joined the bullish market as the rest of the cryptocurrency market made a recovery. That said, ADA seemed to be outperforming its peers. There is speculation the recent announcement about the listing of ADA on Huobi, caused this surge. Huobi is currently one of the major cryptocurrency exchanges in the world. Additionally, the Binance Exchange also announced the introduction of the ADA/BNB cryptocurrency pair to its portfolio on April 19. These trends are indicators that investors might also benefit massively from lesser coins.