5 Crypto Projects That Should Be Under Your Radar This October
The success of Ethereum has continued to inspire other projects in the crypto space. The likes of Cardano and Solana have recorded similar feats of success.
There are many other crypto projects that have the potential for massive growth and profits for investors.
This post profiles 5 smaller projects (in comparison to Ethereum) that are currently bullish which also have growth potentials.
I’ll start off with the advice that you take out time to do your own research before making any investment decision.
1. Avalanche (Avax)
One of the emerging players in the smart contracts and DeFi space, Avalanche, looks set to grow beyond it’s all time high of $79.73.
It is a blockchain platform that enables creation and deployment of low-cost, green and blazing fast smart contracts.
Avax is the native token that is issued by Avalanche, for securing the platform, payment of fees and also acts as a basic unit of account on Avalanche.
Price increase of Avax has been quite impressive within the recent past, with sustained growth in value, developers and community.
Avax is also geared up for a new ATH with the current bullish trend.
Avax is one of those crypto assets that you could hodl. Judging from its recent price action and potentials of the project.
2. Chainlink (Link)
Chainlink offers valuable blockchain services that enable platforms and applications to interact with external data feeds, events and payment methods. Due to its ability to integrate off-chain data into smart contracts, Chainlink has been able to attract trusted data providers such as Huobi and Alpha Vantage.
Link token is issued by Chainlink which is currently trading within the $22 — $25 range.
Link may well be on its way to $30 and above, other analysts predict a steep fall in prices should it fall below $20 support.
Recent developments and upgrades on the Chainlink network like the one-click templates for deploying smart contracts and increased utility are factors that will lead to a bullish run for Link.
Trading at $22 — $25, Link looks like a good buy with profit potential within the next few weeks.
3. Polkadot (Dot)
Polkadot is a multichain platform that enables cross-blockchain transfers of tokens, different data types, and assets.
It’s a project that was founded by the Web3 Foundation having Dr Gavin Wood, Robert Habermeier and Peter Czaban as founders.
Key Polkadot features include enabling cross-blockchain transfers, provision of a common set of validators for security of multiple blockchains, use of the Substrate framework and Polkadot upgrade without hard forks.
Dot is the native token issued by Polkadot which serves 3 distinct purposes of network governance, operations and creation of parachains.
Currently trading around the $30 mark, Dot has continued to gain despite the recent fall in crypto prices.
4. Elrond (Egld)
Elrond is a secure and scalable blockchain protocol which uses sharding to deliver high speed transactions for applications and enterprises.
Its native token eGold or EGLD, is the native token used for payment of network fees, staking and rewards for validators.
After hitting a low of $53.41 on the 22nd of June, EGLD rallied to an all time high of $303.03 (over 400% increase) on the 14th of September.
One major driver of EGLD’s market price is the increase in partnerships and integrations of other projects with the platform. This has expanded its capabilities and user base.
In its own words, Mina is a “succinct blockchain” designed to reduce computational requirements of dApps thereby increasing their efficiency. It is referred to as the world’s lightest blockchain with a network size of 22 Kb.
Its native token is also called Mina which is currently traded for $4.
The chart shows a steady increase of the price of Mina to $6.495 on the 14th of September. This increase is attributed to its collaboration with Polygon.
As the popularity of crypto increases, so does the number of crypto projects and use cases.
While crypto projects such as Bitcoin, Ethereum and BNB may have gone mainstream, there are still other promising crypto projects with profit potentials.
This post highlights 5 crypto projects that you could consider looking into.