Top 5 Altcoins For October 2023 That Could 20X Your Crypto Portfolio
10 October 2023 - 10:00AM
NEWSBTC
By now, Bitcoin has grown to the point where crypto investors do
not expect very large returns from it and are now looking toward
altcoins that could provide the kind of returns they seek. However,
with thousands of altcoins circulating in the crypto market, it can
become quite hard to pick the coins that could end up doing well.
So here are five altcoins that are well-positioned to do well in
the next bull market that could potentially 20x your crypto
portfolio. Lido DAO (LDO) Is A Top Crypto Contender Lido DAO (LDO)
has grown rapidly to dominate the Ethereum liquid staking game,
accounting for over 30% of all staked ETH in LSD protocols. This
has brought immense attention to its native token, LDO, which on
its own has also seen a good run over the years. Related Reading:
Crypto Investor Buying Power Just Reached A 6-Month High, What This
Means However, at just a $1.4 billion market cap, LDO is still what
can be referred to as undervalued given its standing in the
decentralized finance (DeFi) sector. A bull market could easily see
the market cap of LDO cross $30 billion, which would be a more than
20x return on investment from its current $1.61 price level.
Arbitrum (ARB) Dominates Ethereum Layer 2 Altcoins Arbitrum (ARB)
features on this list because of the network’s performance over the
years. Of all the Ethereum Layer 2 networks currently in the game,
Arbitrum leads the pack both in terms of Total Value Locked (TVL)
and daily trade volume. This puts it ahead of the likes of Optimism
(OP), Avalanche (AVAX), and Polygon (MATIC), all of which have been
in the game just as long. However, of the 4 leading Ethereum L2s,
Arbitrum has the lowest market cap. At $1.08 billion, it is yet to
see the same kind of surge its competitors saw in 2021 due to the
token launching in the bear market. Arbitrum’s performance even in
a bear market shows that it could easily be a top 10 cryptocurrency
in the bull market. Related Reading: Why You Should Pay Attention
To The XRP Price Predictions Stacks (STX): The Crypto Child Of
Bitcoin Currently, when crypto investors think of NFTs and DeFi on
the Bitcoin network, they think of Stacks (STX). This is because
Stacks is a Layer 2 network that allows the usage of smart
contracts on Bitcoin. This means developers are able to build
protocols as well as launch NFT collections on the Bitcoin network
using Stacks (STX). STX’s market cap is still very low at just $715
million especially given what it enables developers to do on the
Bitcoin network. This offering makes sure that Stacks is always on
the radar of investors, making it a billion-dollar token that could
easily bring 20x returns. Total market cap excluding Bitcoin is
$514 billion | Source: Crypto Total Market Cap Exclude BTC on
Tradingview.com Kava (KAVA) Joins The Fun With Layer 1 Technology
Kava (KAVA) has been building up into mainstream adoption despite
competition with the biggest networks in the space. This Layer 1
blockchain is taking another route to interoperability by combining
the best parts of the Ethereum and the Cosmos networks. Related
Reading: LINK Price Primed For Meteoric Rise: Analyst Predicts 130%
Rally To $18 Ethereum is known for its developer power, enabling
developers to build pretty much anything, but still held down by
slow transactions and high fees. On the other hand, Cosmos has some
of the highest speeds and interoperability and when both of these
are combined, it presents basically a supercharged Layer 1
blockchain equipped to handle almost anything. Its native token
KAVA is already one of the most watched Layer 1 native tokens, and
at a $500 million market cap, it’s fair to say that this altcoin is
far from done. Altcoins Are Not Complete Without The Trust Wallet
Token (TWT) With so many centralized exchanges running into issues
such as hacks and bankruptcy, more crypto investors are choosing to
self-custody their coins. The top 2 self-custody wallets that also
allow users to take advantage of DeFi and NFTs are MetaMask and
Trust Wallet. Since only the latter currently has a token, it has
been able to corner that market share for itself. Related Reading:
Brace For Impact As $200 Million In Crypto Is Being Unlocked In
October Trust Wallet’s native TWT token rose in popularity when the
FTX crypto exchange crashed in 2022 and has not stopped. Going into
the bull market, self-custody is expected to be the main avenue to
store coins and TWT’s current $411 million market cap could quickly
turn into an $8 billion market cap in the bull market. Follow Best
Owie on X (formerly Twitter) for market insights, updates, and the
occasional funny tweet… Featured image from Finbold, chart from
TradingView.com
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