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With bitcoin gaining momentum, expectations about its potential market dominance are creating a favorable environment to explore the best altcoin investments.
In recent weeks, several digital assets have shown an increase in value. In anticipation of the next bull market, it is essential to keep an eye out for potential gems that could generate significant gains.
October Altcoin Surge: Top 3 Picks for Investors
Some altcoins have made a surprising recovery, rising more than 100% in the last month. Although October was quite slow, it seems that the last half of the month is moving faster and the outlook is improving.
Several DeFi coins are making significant progress. And this completes the list of the top 3 altcoins for October.
ethereum (eth)
In October, ethereum emerged as one of the top three cryptocurrencies to consider for investment. It has long been considered the second most valuable cryptocurrency after bitcoin and continues to occupy a prominent place in the cryptocurrency market.
It is important due to its wide usability for numerous transactions, covering a variety of decentralized applications (dApps). These apps cover nft marketplaces, metaverse apps, DeFi projects, nft acquisitions, emerging token purchases, ICO participation, and pre-sale event participation.
ethereum, with its market cap of $217 billion, demonstrates its potential for notable growth, especially considering its current price of $1,804.
The widespread adoption of ethereum through tools like Metamask, a popular wallet for interacting with decentralized applications, underlines its status as a key player in the crypto space. The asset’s significant trading volume of $9.34 billion improves its liquidity and attractiveness to investors.
While ethereum may not fall into the category of small-cap altcoins that promise overnight wealth, it offers a solid and relatively safe investment option. Its deflationary nature adds to its long-term bullish outlook.
As the cryptocurrency market evolves, ethereum‘s role as a foundational asset for various blockchain applications could position it as a strong contender for substantial growth, making it an attractive option for those looking to capitalize on future opportunities.
Celer Network (CELR)
In 2023, Celer Network (CELR) emerged as a very promising Layer 2 scaling solution, demonstrating its substantial growth potential. Celer Network’s features make it competitive and attractive to users, which could drive adoption and demand for the token.
Planned developments and improvements to the platform are expected to further drive demand for CELR. Celer Network currently has a market capitalization of $107 million, although it previously reached an all-time high market capitalization of nearly $1 billion, peaking at $967 million.
The trading volume of this network almost reached $1 billion the previous day during its peak. Like Matic, Celer Network aims to address various issues in the cryptocurrency space. It works as a layer 2 solution and is expected to provide significant benefits.
The total supply of Celer Network tokens is 10 billion, with a maximum supply of 10 billion as well. Celer Network is available for trading on several cryptocurrency exchanges including Coinbase, Binance, KuCoin, Kraken, and others.
These exchanges are highly regarded as options for cryptocurrency trading, positively reflecting the adoption and growth potential of the network. Additionally, Celer Network is listed on Gate.io, Binance.US, crypto.com Exchange, OKX, and more.
Its presence on multiple exchanges indicates a strong presence in the cryptocurrency market, making it available for purchase worldwide. With the growing demand for blockchain scaling solutions, Celer Network and the CELR token are well positioned to benefit from this trend.
Truthfulness (ASK)
Veracity, called VRA, is a cryptocurrency worth considering for potential investors. Currently, it has a trading volume of $17 million and a market capitalization of $59 million. Its current trading price is $0.0057 per unit.
The most surprising thing is its historical performance. Veracity has reached an all-time high price of $0.086. This is notable because it represents a return of 20 times its current trading value, which is quite promising for potential investors looking for substantial returns.
Total net advertising spend lost due to fraud (2023-2028)
Net ad spend lost due to fraud is expected to increase in all regions.
@verasitytech provides blockchain solution against ad fraud through Proof of Sight
A patent on PoV has been granted in Europe$VRA pic.twitter.com/zhFS5hQnal— House of the Chimera (@HouseofChimera) October 25, 2023
Veracity’s uniqueness lies in its fresh perspective on solving real industry problems. He introduces the concept of sight testing, with the aim of combating ad fraud in the world of digital advertising. Ad fraud is a widespread problem with significant financial implications.
Veracity’s approach ensures that real human viewers interact with digital content, thwarting automated bots that skew engagement metrics. As the proof-of-sight concept gains acceptance and evolves into a profitable business model, Veracity’s value could increase.
This increase could take it to a range of $0.20 to $0.30 per unit, driven by the broader growth of the gaming industry. This is a significant potential upside and makes Veracity an interesting prospect for investors.
The VRA token is available for trading on several leading cryptocurrency exchanges including KuCoin, Bitfinex, Gate.io, and OKX. Visit our guide to the best altcoins to buy now for 2023 here.
Conclusion
There is no need to go through a difficult process to choose the best cryptocurrencies to invest in. By reviewing the best cryptocurrencies, highlighting their advantages, and offering advice on how to spot potential possibilities, this article has made your job easier.
It has introduced high-performing altcoins and provided advice on assessing whether they are suitable for investment, as well as suggestions on current sources for purchasing altcoins.
Altcoins are attracting more investors as the value of the market’s leading cryptocurrency rises and the market as a whole shows signs of recovery.
Analysts predict that this positive trend will continue over the coming months and into the foreseeable future as they have already demonstrated their resilience and strong performance. If you’re looking for other investment opportunities, check out our list of the top crypto ICOs to consider.
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