5 cryptocurrencies that can grow significantly in October

Editor’s note: not financial advice!

Cryptocurrency analysts have compiled a list of the five most promising altcoins of October. Upcoming events in their ecosystems may support the positive dynamics of these coins. Digital assets such as: Ethereum (ETH), Flare (FLR), Optimism (OP), Hedera (HBAR), and Radiant (RXD) may attract even more attention from users.

Ethereum: ETF launch in the US

Last week, on September 28, the Securities and Exchange Commission authorized crypto broker Valkyrie to issue ethereum futures ETFs. The new instrument was launched on October 3. In addition, this week, Grayscale and NYSE Arca filed an application with the SEC to convert the Grayscale Ethereum Trust into a spot ETF. The renewed attention of the crypto community to the launch of the ETF may lead to the growth of the main altcoin.

Flare Network: more tokens in use

The Flare project was created in 2020 to add support for smart contracts to the Ripple network. The next tranche of the FLR airdrop — the eighth this year — is scheduled for October 13. After it, the total number of tokens in circulation will increase by more than 676 thousand.

Optimism: an important vote on October 12

The Optimism project is a popular open-source second-level (L2) scaling solution for the Ethereum blockchain. To make the network more decentralized, the Optimism team decided to create a Security Council. It will consist of eight people who will be elected by voting. The first round of voting will take place on October 12. It will determine whether the new security model for the main network will be approved.

Hedera: community events

On October 6−8, the Hello Future event organized by the Hedera project will be held in Los Angeles. It will be attended by Lemon Bird and Mance Harmon, co-founders of Hedera. The price of HBAR has been rising since the rebound on September 11. After consolidating on October 1, the price accelerated its growth rate. If the upward movement continues, the nearest resistance will be $ 0.056.

Radiant: launch of the main network

On October 3, the Radiant project launched the main Ethereum-based network, which may have a positive impact on the value of the RXD token in the future. The RXD price rebounded on September 20, but was pushed back to the resistance area two days later. If the altcoin makes another attempt to reach the resistance at $ 0.0017, RXD could rise by 25%. On the other hand, a drop to the September 20 low would mean a 20% decline.

A few days ago, trader and crypto analyst Jackis said that the crypto market is approaching a recovery from the depression phase, so the tokens of large ecosystems will grow 10 times. The expert singled out such tokens as Avalanche (Avax), Solana (SOL), Polkadot (DOT), and Arbitrum (ARB).