2022 was the worst year for cryptocurrencies. Cryptocurrency investors have witnessed a significant price drop from all-time highs. It is no longer possible to hold onto Bitcoin and wait for him to make $1 million with an investment of less than $10,000. However, since he has always been bullish on cryptocurrencies this month, especially since October, there are many altcoins expected to boom in the coming months. As every month, this article provides the top 5 altcoins to buy in October 2022.
#5 Chain link (LINK)
chain link Enables the embedding of globally interconnected smart contracts. Additionally, it is a decentralized network of nodes that use oracles to feed on-chain smart contract data from off-chain sources. Since the network’s launch in 2019, it has enabled secure communication between the blockchain and external data feeds and events. Such data streams include, for example, stock prices and sporting event results.
Chainlink recently announced chain link buildChainlink BUILD encourages the growth of early-stage and established projects within the Chainlink ecosystem by improving access to Chainlink services and technical assistance in exchange for promises of network fees and other incentives to Chainlink service providers. The economic incentives between communities are aligned, which promotes the long-term sustainability of both ecosystems.
#4 Polygon (MATIC)
Polygon is a scaling method for the Ethereum blockchain. Transactions should be easier and faster. To more evenly distribute the amount of transactions made on Ethereum, Polygon employs so-called “sidechains”. Layer 2 solutions focus on this.
MATIC prices have adjusted in the last two months. However, its price is about to rise as part of the continuation of the uptrend. October has always been known to be green for cryptocurrencies, so MATIC can confirm that the trend has continued since his October.
#3 Cardano (ADA)
Cardano secures 3rd place in the top 5 altcoins to buy in October 2022. In fact, Cardano is one of the most promising cryptocurrency projects. Cardano is well known as it is currently the most advanced and popular proof-of-stake cryptocurrency available. Cardano is arguably one of the most peer-reviewed and meticulously built blockchain platforms, and no one in the cryptocurrency world can dispute that. Few, if any, other ciphers can claim that designation. Robust peer review methods and processes allow this Proof of Stake coin to properly compete with Ethereum.
Cardano is often described as the 3rd generation of cryptocurrencies, with Ethereum and Bitcoin serving as the 1st and 2nd generation respectively. However, from a cryptocurrency price point of view, ADA prices have historically improved significantly, and 2022 has definitely not been kind. As such, he recommends buying ADA cheap in anticipation of the upcoming uptrend, especially as the price is currently in a strong support area.
#2 Uniswap (UNI)
Uniswap is a decentralized exchange (aka DEX) based on the Ethereum blockchain that also functions as a coin. While its token holders run it, its blockchain is open source and can be viewed and edited by anyone. It acts as a DEX, allowing users to access the platform for their peer-to-peer marketplace making. These transactions do not require a broker or third party like traditional DEX transactions. This lack of interference makes it inexpensive for users to run and use.
According to CoinGecko data, Uniswap is currently the largest decentralized exchange with a respectable market share of 43.2% at the time of this writing. It showed the strongest recovery last month among all major cryptocurrencies.
#1 Ripple (XRP)
Ripple is #1 on our list of top 5 altcoins to buy in October 2022. Ripple CEO Brad Garlinghouse recently filed a request for summary judgment. This is basically a request for summary judgment on at least one claim from the court. If the motion is granted, the matter will be resolved without a trial. This is a big win for Ripple as they don’t even have to pay a hefty fee.
Ripple’s winning potential is very strong right now. A Ripple attorney has posted updates on how the legal matter is progressing on his Twitter account.
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