In this episode of BeInCrypto’s Video News Show, host Jessica Walker takes a look at our pick for the four altcoins of October.
Number one on our list of altcoins for October 2021 is LUNA. We’ve included it before in our reviews, but the reason it makes the top of the list this time is its progress in the market cap rankings. With over $13 billion, it is now the 14th largest cryptocurrency in market cap, and we think it could keep moving higher.
Terra seeks to set itself apart through its use of fiat-pegged stablecoins, stating that it combines the borderless benefits of cryptocurrencies with the day-to-day price stability of fiat currencies. It keeps its one-to-one peg through an algorithm that automatically adjusts stablecoin supply based on its demand. It does so by incentivizing LUNA holders to swap LUNA and stablecoins at profitable exchange rates, as needed, to either expand or contract the stablecoin supply to match demand.
Its chart also tells a positive story. Many cryptos still haven’t recovered from the crash they experienced back in May. Not so for LUNA. The highs from several months ago were bested in early September and the overall trend here still seems bullish. But do beware, volatility and swings in both directions have also increased.
Number two on our list is Audius. This is a decentralized music-sharing and streaming protocol that enables direct transactions between listeners and creators, giving everyone the freedom to distribute, monetize, and stream any audio content.
It made the news a couple of weeks ago when it secured $5 million funding from leading names in the industry, including Katy Perry, rapper Lil Nas X, The Chainsmokers, and Jason Derulo. Rolling Stone reported that Martin Bandier, the former CEO and Chairman of Sony/ATV Music Publishing, is also a backer. The funding for this Spotify rival arrived just after its users hit the six million user mark.
So this project seems like it has some big names behind it, although the investment amount isn’t too big and the chart shows conflicting trend, that are vying for dominance. But this could be one crypto flying under the radar before it pops. It has serious backing, and it’s far more than a proof of concept, with already millions of people using it.
Blizzard Network (BLIZZ)
At number three, we have the Blizzard Network’s token BLIZZ. This is a low cap coin on the Avalanche ecosystem and is the token for a project that offers an advanced yield accumulator. Its goal is to help users with little technical know-how to achieve an optimized farming experience and ultimately help them farm and stake. This way they can take their profits and yields relatively higher than the regular farmer on Avalanche, for example.
Its fresh on the market and price data is available only from September 19, but its star moment came on September 24 when it skyrocketed with 175%. Its only available on a handful of exchanges and during the time of this recording is still among the trending altcoins on review sites and social media.
The chart shows there has been some profit taking after the recent surge, but we could see more legs of growth for this one.
XDC Network (XDC)
Our final pick in our top altcoins for October list is XDC. This is the native coin of XinFin. XinFin is an enterprise-ready hybrid Blockchain technology company optimized for international trade and finance.
The XDC protocol is architected to support smart contracts, 2000 transactions per second, 2second transaction times, and KYC capabilities. The XDC Chain uses what they call “Delegated Proof of Stake”, with the intention of creating a highly-scalable, secure, and commercial grade blockchain network.
It’s most popular real-world use-case can be found at TradeFinex.org, which helps small and medium businesses or institutions originate their own financial requirements in a digital, fully structured manner, so that they can distribute it to banks or non-bank funders themselves.
The XDC is as reassuring as a crypto chart can be. A solid uptrend with higher highs shows no signs of slowing down, despite the multiple corrections that the price has gone through. This could be one of the big DeFi success stories out there.
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