The year 2022 has been one of the worst years for cryptocurrencies. Crypto investors have seen significant price declines from all-time highs. It is no longer possible to hold Bitcoin and expect to make a million dollars with an investment of less than $10,000. However, many altcoins are expected to boom in the coming months, especially from October, as this month has always been bullish for cryptos. As we do every month, in this article we will provide you with the top 5 altcoins to buy in October 2022.
#5 Chainlink (LINK)
Chain link enables the incorporation of globally interconnected smart contracts. Additionally, it is a decentralized network of nodes that uses oracles to feed data to on-chain smart contracts from off-chain sources. Since the network’s launch in 2019, it has enabled secure communication between blockchains and external data streams and events. These data feeds include, for example, stock prices and the results of sporting events.
Recently, Chainlink announced Chain link construction. By granting greater access to Chainlink’s services and technical support in exchange for promises of network fees and other incentives to Chainlink service providers, Chainlink BUILD intends to accelerate the growth of early-stage and established projects within of the Chainlink ecosystem. Economic incentives between communities are in line, which promotes the long-term sustainability of both ecosystems.
#4 Polygon (MATIC)
Polygon is a scaling method for the Ethereum Blockchain. This should make transactions easier and faster. In order to more evenly distribute the volume of transactions that take place on Ethereum, Polygon uses so-called “sidechains”. A Layer 2 solution focuses on this.
MATIC prices have adjusted over the past 2 months. However, its prices are poised to rise in a continuation of the uptrend. As October has always been known to be green for cryptos, MATIC can confirm its trend continuation from October.
#3 Gimbal (ADA)
Cardano managed to secure its 3rd place in our top 5 altcoins to buy in October 2022. In fact, it is one of the most promising cryptocurrency projects. It is well known that Cardano is now the most advanced and popular proof-of-stake cryptocurrency available. Cardano is undoubtedly one of the most peer-reviewed and meticulously built blockchain platforms, and no one in the cryptocurrency world can argue with that. Few, if any, other cryptos can claim this designation. The robust peer review methods and processes allow this proof-of-stake coin to properly compete with Ethereum.
Cardano is frequently described as the third generation of cryptocurrencies, with Ethereum and Bitcoin serving as the first and second generations respectively. However, from a cryptocurrency price perspective, the price of ADA has always been significantly better, and 2022 has undoubtedly not been kind. This is why it may be a good idea to buy ADA cheaply in anticipation of the upcoming uptrend, especially since prices are currently sitting in a strong support zone.
#2 Uniswap (UNI)
Uniswap is a decentralized exchange (aka DEX) based on the Ethereum blockchain that also works like a coin. While its token holders run it, its Blockchain is open source and available for everyone to read and modify. It works like a DEX and gives users access to its peer-to-peer market-making platform. These transactions do not need a broker or third party like any conventional DEX transaction. It is less expensive for users to run and operate due to the absence of this interference.
According to data from CoinGecko, Uniswap is currently the largest decentralized exchange, with a considerable market share of 43.2% at the time of writing. Of all the major cryptocurrencies, it demonstrated one of the strongest recoveries in the previous month.
Ripple #1 (XRP)
Ripple is number 1 on the list of top 5 altcoins to buy in October 2022. Recently, Ripple CEO Brad Garlinghouse filed a motion for summary judgment. This is essentially a request for summary judgment on at least one request from the court. If the motion is granted, the issues in question are resolved without a trial. This would lead to a big win for Ripple, as they won’t even need to settle by paying high fees.
The probability of a Ripple win is currently quite strong. On his Twitter account, the lawyer for the Ripple company posts updates on the progress of the legal cases.
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