Altcoins
Top 5 Altcoins for October 2023 That Could 20X Your Crypto Portfolio
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Right now, Bitcoin has grown to the point where crypto investors aren’t expecting very big returns from it and are now looking to altcoins that could provide the kind of returns they’re looking for. However, with thousands of altcoins circulating in the crypto market, it can become quite difficult to select which coins might perform well.
So here are five altcoins well-positioned for success during the next bull market that could potentially 20x your crypto portfolio.
Lido DAO (LDO) is a leading 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 brought immense attention to its native token, LDO, which on its own has also performed well over the years.
However, with a market capitalization of only $1.4 billion, LDO remains what could be described as undervalued given its position in the market. decentralized finance (DeFi) sector. A bull market could easily see LDO’s market cap surpass $30 billion, which would represent a return on investment of more than 20 times from its current price level of $1.61.
Arbitrum (ARB) Dominates Ethereum Layer 2 Altcoins
Arbitration (ARB) features on this list due to network 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 trading volume.
This puts it ahead of companies like Optimism (OP), Avalanche (AVAX)And Polygon (MATIC), all of whom have been in the game just as long. However, among the top 4 Ethereum L2s, Arbitrum has the lowest market capitalization. At $1.08 billion, it has yet to see the same type of surge that its competitors have seen in 2021 due to bear market token launches. Arbitrum’s performance, even in a bear market, shows that it could easily be a top 10 cryptocurrency in a bull market.
Stacks (STX): the crypto child of Bitcoin
Currently, when crypto investors think about NFT And Challenge on the Bitcoin Network, they think of Stacks (STX). Indeed, Stacks is a layer 2 network that enables the use of smart contracts on Bitcoin. This means developers are able to create protocols and launch NFT collections on the web. Bitcoin Network using Batteries (STX).
STX’s market capitalization is still very low, at just $715 million, especially considering what it allows developers to do on the Bitcoin network. This offering ensures that Stacks is always on the radar of investors, making it a billion-dollar token that could easily generate 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) was adopted by the general public despite competition with the largest networks in the sector. This layer 1 blockchain takes another path to interoperability by combining the best parts of the Ethereum and Cosmos networks.
Ethereum is known for its development power, allowing developers to create just about anything, but still held back by slow transactions and high fees. On the other hand, Cosmos has some of the highest speeds and interoperability and when the two are combined, it essentially presents a supercharged engine. Layer 1 blockchain equipped to handle almost anything.
Its native token KAVA is already one of the most watched layer 1 native tokens, and with a market cap of $500 million, it’s fair to say that this altcoin is far from over.
Altcoins are not complete without the Trust Wallet (TWT) token
With so many centralized exchanges facing issues like hacking and bankruptcy, more and more crypto investors are choosing to hold their coins themselves. The 2 best self-custody wallets that also allow users to profit from DeFi and NFTs are MetaMask And Trust Wallet. Since only the latter currently owns a token, it was able to capture this market share.
Trust Wallet native TWT token gained popularity when the FTX crypto exchange crashed in 2022 and hasn’t stopped. Entering the bull market, self-guard is expected to be the primary way to store coins and TWT’s current market cap of $411 million could quickly turn into a market cap of $8 billion in a bull market.