Altcoins

Top 5 Altcoins Ready for a Massive Bull Run in November!

Written by: Elena R

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Oct 30, 2021

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Following a sharp drop to $56,000, bitcoin has rebounded to recapture the $60,000 mark. Most altcoins have also seen new increases, with Ethereum reaching a new all-time high of $4,400. Cardano and Ripple, on the other hand, have seen significant drops.

Dogecoin, the 9th largest cryptocurrency, has restored its position. The market capitalization of cryptocurrencies has increased by $60 billion since yesterday, to $2.6 trillion.

Top Picks for November!

Aaron Arnold, a cryptocurrency trader, has named his top altcoin picks for November. The host of Altcoin Daily claims in a recent YouTube video that he expects Polygon (MATIC) will rise as firms like Twitter work on projects that require Ethereum layer-2 scaling solutions.

Polygon is breaking out and aiming for new highs. MATIC appears to be on the verge of breaking new all-time highs, which is consistent with what we see on-chain. 

Polygon just reached a milestone of one billion transactions handled on the Polygon proof-of-stake chain. A fantastic achievement and a fantastic milestone. 

Layer-2 scaling solutions for Ethereum could not have arrived at a better moment. This is in high demand, especially with all of the adoption that we’re seeing.”

After one of the original rebasing tokens, Ampleforth (AMPL), appeared on the network, the trader became enthusiastic about the smart contract platform Avalanche (AVAX). 

“Avalanche is offering a lot of incentives for other DeFi [decentralised finance] protocols to join the Avalanche blockchain, and it’s working.” 

He emphasises Avalanche’s expanding number of addresses and transactions, noting that the network’s daily active addresses just reached a new high of around 70,000, marking a weekly rise of over 100%.

Arnold is also positive on Chainlink (LINK), a decentralised oracle network, and Filecoin, a decentralised peer-to-peer file storage technology (FIL). 

He is including them simply because they collaborate with many of the industry’s heavyweights. He believes the future is multi-chain and interoperable.

Arnold also mentions the decentralised cross-chain liquidity protocol THORchain (RUNE), which has reached new highs in terms of volume and liquidity.

According to him, the platform is now recognised as a preferred venue for KYC-less (know your customer) and borderless Bitcoin (BTC) for Ethereum (ETH) and ERC-20 token trading. According to Arnold, by the end of January, the network will have more actual Bitcoin than Wrapped Bitcoin (WBTC) on the Uniswap exchange.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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