Cryptocurrency analytics company Layergg has identified six altcoins to monitor closely in the upcoming month. These altcoins include Jito (JTO), Ethena Labs (ENA), Biconomy (BICO), PENDLE, Sui (SUI), and Luna (LUNA).

Jito (JTO)

Jito, a relatively new project within the Solana ecosystem, is perceived as undervalued compared to other projects such as PYTH and JUP. The company anticipates several token launches in April, with projects like Wormhole, Parcl, Zeus Network, Kamino Finance, Ionet, Tensor, and Drift Protocol. Described as a blend of Lido and Flashbots, Jito is recognized as a top LST in Solana.

Ethena Labs (ENA)

Ethena Labs has been positioned as the "Anchor x Luna" of this cycle due to its considerable revenue generated from $sUSDe. Backed by Arthur Hayes, the project is foreseen to thrive as Key Opinion Leaders (KOLs) gain influence. Ethena's plan to introduce BTC as collateral is expected to boost its Total Locked Value (TVL) and positively impact the price of ENA.

Biconomy (BICO)

Biconomy, a solution adopted by global giants like JPMorgan and Mercedes Benz, recently secured strategic funding from Jump Capital and Manifold Trading. Though flying somewhat under the radar, Biconomy is generating significant interest in Real World Asset (RWA) tokenization.

PENDLE

Pendle is highlighted as a key proxy for Eigenlayer (Eigen-beta). Multiple restructuring initiatives are gearing up for token launches including Zircuit, Renzo, Puffer, Kelp, Swell, and BedRock.

Sui (SUI)

Sui is poised to host its inaugural global conference, "Sui Basecamp," scheduled for April 10-11. The event will feature prominent speakers from renowned organizations like a16z, Visa, VanEck, and Red Bull. Speculations suggest that significant developments akin to Aptos may be unveiled during the conference.

Luna (LUNA)

The potential outcome of Luna's Do Kwon case is projected to be disclosed in April. Positive developments or continued engagement from Do Kwon on Twitter could trigger upward momentum for LUNA, as indicated by the analytics company.

Please note that this content does not constitute financial advice.