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Cryptocurrency News Articles
Which Altcoins Will Give the Best Performance This October?
Oct 14, 2024 at 01:01 am
Lunex Network (LNEX), Polkadot (DOT), Chainlink (LINK), and Tron (TRX) are coins investors are closely watching for possible top performances
As we head into October, several coins are being closely watched by investors, who are anticipating possible top performances. Among these coins are Lunex Network (LNEX), Polkadot (DOT), Chainlink (LINK), and Tron (TRX). Each cryptocurrency has its strengths.
Lunex Network offers cross-chain transaction functionalities, Polkadot provides interoperability, Chainlink features oracle services, and Tron accommodates decentralized applications. This month could see shifts depending on market trends and developments in their ecosystems. Let’s find out!
Polkadot (DOT) trades between $3.86 and $4.64. Polkadot has jumped by almost 2.91% during the previous week and almost 50% within the last 6 months. The altcoin could test the $5.10 resistance level when bullish momentum picks up.
However, in case the bears take control, the price might slip to $3.54, a potential 10% drop. Nevertheless, Polkadot’s large-scale transaction output and its fast processing functionalities are drawing more investors’ attention. Polkadot has a good deal of profit potential as more projects utilize its chains, fostering continued expansion of its ecosystem.
According to expert analysis, Chainlink (LINK) has formed a bearish head-and-shoulder pattern on its daily chart. Chainlink just recently broke a key descending trendline, which had held since August 2024. Analysts predict that if Chainlink breaks the neckline of this bearish pattern and closes a daily candle below $10.30, the price might drop by 13% to $9 in the coming days.
Chainlink introduced a staking mechanism to reward node operators for uptime and data accuracy despite the current bearish outlook. This update enhanced Chainlink’s decentralized oracle network and its position in tokenizing RWAs. The upgrade is vital for programmers and traders who use Chainlink’s data feeds in DeFi applications.
Although Chainlink is an established altcoin, Lunex Network (LNEX) provides more versatility for DeFi users with its cross-chain transactions.
At $0.159713, TRON (TRX) is perfectly liquidated with a volume-to-market cap ratio of 0.0592. The 14-day RSI is 58.45, which is neutral – not overbought or oversold. TRX has shown 17 green days in the past month, highlighting a consistent upward trend.
Looking at the long-term, TRON has performed well. It is trading 18.86% above its 200-day simple moving average and has seen an 84% price increase over the past year. Additionally, TRON has outperformed 55% of the top 100 crypto assets by market cap, demonstrating its solid position in the market.
Lunex Network offers seamless cross-chain transactions, allowing traders to easily swap over 50,000 assets. This interoperability provides access to a vast market, while also offering some of the lowest gas fees on the market and rapid transaction speeds.
Lunex Network also stands out for its range of trader perks. It features a mobile exchange app, a comprehensive portfolio tracker, and a premium subscription service. Advanced tools include anti-money laundering wallet checks and financial incentives, making Lunex Network an attractive platform for serious investors seeking efficiency.
That is not all. The platform is attracting attention for its privacy stance – and ignoring know-your-customer (KYC) protocols — a departure from the majority of exchanges.
Many traders are flocking to the $LNEX token presale, currently in stage 3, priced at $0.0015. Analysts predict that Lunex Network’s innovative features and trader benefits could lead to 1500% growth in the value of $LNEX by 2025. For long-term investors, this is a protocol to watch.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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