Cryptocurrencies have now become very well known all over the world, giving thousands of options for investments. In recent months, of course, the crypto-market has been nightmarish, however, it is now in the process of recovering.
Bitcoin, the king of the market, is followed by other also well-known currencies such as Ethereum, Cardano, Dogecoin, and Shiba Inu. Deciding on the cryptocurrencies to invest in at the moment is certainly complicated for beginners. However, it is worth taking a look at investors’ preferences.
Here’s a list of the top 5 cryptocurrencies to invest in October, based on their popularity in the previous period:
1. Bitcoin
The last few weeks have not been good for the king of the market, however, bitcoin continues to have the confidence of investors. With an imminent Bitcoin ETF, the Taproot upgrade just around the corner, Bitcoin can skyrocket past 100K by the end of this year.
2. Ethereum
Ethereum is a blockchain network with Ether being the currency, which is why it is usually called a cryptocurrency. Most NFTs sold online have been processed through the Ethereum blockchain. It is one of the most stable platforms, which constantly strives to be upgraded and updated by trends. Ethereum’s latest upgrade aims to minimize gas fees – and believe me, they will succeed.
With Ethereum Gas Fees at minimal levels and the way Ethereum moves forward with smart contracts and NFTS, it’s a no-brainer that there’s still room for price growth.
3. Cardano
Cardano’s price is still at a bargain price. Cardano is considered the most prominent competitor Ethereum’s dominance. With the launch of smart contracts, their strategy in Africa, the launch of at least 5 decentralized exchanges in the upcoming months, Cardano is poised to reach Ethereum’s price in the next couple of years.
4. Solana
The Solana focuses on making the decentralized economy accessible to a greater extent. It is currently one of the fastest-growing ecosystems. Solana’s price increase approximately 200% in the past couple of months and its expected to grow even more in the upcoming months.
Adding it now to your portfolio at its current price is a bargain, especially with the upcoming integration with FTX pay and Yield Farming.
5. Polkadot
Polkadot was released in 2020, and within a year its value has risen from $2.93 to $31.16, which is a 1063% increase. It is predicted that its price will rise in the upcoming months, mainly due to the parachain rollout that will allow Polkadot to realize its scalable multi-chain architecture.
Which cryptocurrencies do you believe should be added to someone’s portfolio ASAP and why? Throw your comments below and let’s kickstart this conversation.
