2022 was one of the worst years for the altcoin market. Crypto investors have seen massive price drops from all-time highs. However, there are many altcoins waiting to recover. To find out which ones, let’s take a look at the top 4 projects from analyst Rudy Fares’ list.
Here are 5 altcoins for your October watchlist
Chainlink (LINK)
Chainlink enables the inclusion of globally interconnected smart contracts. It is also a decentralized network of nodes that use oracles to provide on-chain smart contract data from off-chain sources. Since the network was launched in 2019, it has provided secure communication between Blockchains and external data and events. Such data feeds include, for example, stock prices and results from sporting events.
Recently, Chainlink announced Chainlink Build. Chainlink BUILD aims to accelerate the growth of early-stage and established projects within the Chainlink ecosystem by giving Chainlink service providers enhanced access and technical assistance to Chainlink services in exchange for promises of network fees and other incentives. Economic incentives between communities are compatible. This supports the long-term sustainability of both ecosystems.
Polygon (MATIC)
Polygon is a scaling method for the Ethereum Blockchain. It makes transactions easier and faster. To more evenly spread the volume of transactions happening on Ethereum, Polygon uses a “side chain”. It mainly focuses on this as a layer 2 solution.
MATIC price has been on the decline for the last 2 months. However, their prices are about to increase as part of the continuation of the uptrend. As October is known to be evergreen for cryptos, MATIC can confirm that its trend continues from October.
Cardano (ADA)
Cardano is positioned as the 3rd best crypto to buy in October 2022. In fact, it is one of the most promising cryptocurrency projects. Cardano is well known for being the most advanced and favorite proof-of-stake cryptocurrency available right now. Cardano is undoubtedly one of the most peer-reviewed and meticulously created Blockchain platforms. Also, no one in the world of cryptocurrencies can object to this. Few other cryptos, if any, can claim this designation. Robust peer review methods and processes ensure this PoS coin competes properly with Ethereum.
https://twitter.com/Cardano_CF/status/1573069361405112321
Cardano is often described as third generation cryptocurrencies. Ethereum and Bitcoin serve as first and second generation respectively. In terms of price, however, the ADA price has historically outperformed significantly. But like every crypto it stumbled a bit in 2022. Therefore, it may be a good idea to buy ADA cheap in anticipation of the upcoming uptrend, especially since prices are currently in a strong support area.
Uniswap (UNI)
Uniswap is an Ethereum-based DEX platform that also functions as a cryptocurrency. Blockchain is open source and not everyone can easily fix it. Uniswap functions as a DEX and gives users access to its platform for peer-to-peer market building. These transactions do not require a broker or a third party like any traditional DEX transaction. It is cheaper for users to run and use because of the lack of this interference.
According to data from CoinGecko, Uniswap is currently the largest decentralized exchange. At the time of writing, it has a massive 43.2% market share. Among all major cryptocurrencies, it showed one of the strongest rebounds in the previous month.
Ripple (XRP)
Ripple is #1 on the list of top 5 altcoins to buy in October 2022. Recently, Ripple CEO Brad Garlinghouse submitted a request for summary judgment. This is basically a request for summary judgment on at least one claim from the court. If the proposal is accepted, the issues in question will be resolved without trial. This will be a big win for Ripple because they won’t have to deal with a huge fee.
The probability of a Ripple victory is quite strong right now. On his Twitter account, the lawyer of the Ripple company is posting updates on how legal matters are developing.
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