With only a few months until the end of the year, the cryptocurrency market has been going through a phase of consolidation bringing new changes, and price surges. Now the investors are left with one question, Is the crypto winter over?
While there are few signs that show a hint of the end of crypto winter, experts also believe that the market might still witness further price surges. And for those looking to explore the world of altcoins, now is the best time to invest.
Here are the top Altcoins for October 2023
Cardano (ADA)
Cardano is a proof-of-stake (PoS) blockchain platform that brings positive global change, expanding its influence on the crypto space, and is often hailed for its scientific approach to blockchain. Cardano is currently one of the top 10 largest cryptocurrencies by market capitalization.
After a price surge in 2021, Cardano and other cryptocurrencies suffered heavy losses last year due to several crypto trading platforms and companies declaring bankruptcy. Then, 2023 started and made a strong start with Bitcoin rising up to over 80% YTD and recently reaching the $30,000 level. As a result, alongside other cryptocurrencies, Cardano has been surging in recent weeks.
What happens if you invest $100 in Cardano today? At this time of writing, ADA is at $0.24, up by 14% in the past week. At this stage, $100 is equivalent to 405.46 ADA. If ADA goes back to its all-time high in 2021, a $100 investment could generate a lot of return. While it’s not guaranteed that Cardano will ever go back to its all-time high, looking at its condition shows a small investment can still yield big gains despite the high volatility of the crypto market.
Ripple XRP
Amidst the recent departure of Ripple’s Chief Financial Officer Kristina Campbell and the ongoing battle with the SEC, Ripple (XRP) is expecting an explosive price rally for the altcoin that could be more than its all-time high price in 2018.
According to crypto analyst Dark Defender, XRP price could rally as high as $5.85. The crypto analyst used a wave theory to prove the price prediction. Edward Farina, founder and CEO of various crypto-focused initiatives is also confident that XRP is a better investment this month compared to the past months alongside its battle with SEC.
At this time of writing, XRP’s price is at $0.47 with a 24-hour trading volume of $774.02 million. XRP is currently down by 3.29%.
Solana (SOL)
According to CoinShare’s recent weekly fund flow report, Solana witnessed an inflow of $23.9 million in the past week. Solana became one of the worst-affected projects after the FTX shutdown. More than a year later, this is the largest fund inflow for Solana.
At the moment, Solana (SOL) is aiming for a price target of $29, supported by a $20 million institutional investment and the forthcoming US inflation data. SOL’s current support level is at $22.49. This recent investment and the potential influence of inflation data could boost SOL’s market position despite the volatile landscape defined by Bitcoin’s dominance and the struggle of altcoins.
Today, SOL is trading at $22.36 with a 24-hour trading volume of $268.79 million. SOL is currently down by 1.60%.
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