The crypto bulls are back in full force following a significant uptick in the crypto market. This rally has seen several large and small-cap cryptocurrencies post-double-digits in the past week. This article explores some of the top crypto to buy at the end of October 2021.
1. Solana (SOL)
The Solana blockchain has been on an impressive climb recently.
The remarkable rise of SOL has been fueled by the ire among crypto critics about the high energy consumption of the Bitcoin and Ethereum networks, the subsequent block finality lag time and high gas fees. These developments have made Solana a favourite as teams seek out more sustainable and low-cost decentralised applications (dApps) platforms.
The facilitator has since seen several dApps launch on its platform, pushing its total valued locked (TVL) up. According to data from DeFi Llama, over $13.51 billion worth of assets is currently circulating in the Solana blockchain.
Also, the platform’s IGNITION initiative is paying dividends, with over 500 projects so far recording their interests in the Hackathon. The number of teams on the protocol is expected to grow more with future adaptations.
🔥 500+ projects.
🔥 4 tracks.
🔥 $5 million in prizes and seed funding.
Public voting for the IGNITION Hackathon is now open.
🗳 Vote for your favorites by Oct. 22nd. LFG.https://t.co/kYXSolxPna
— Solana (@solana) October 19, 2021
SOL has surged in value, moving up to 644% in the past 90 days and 9.26% in the last 24 hours. This rally puts it on the sixth spot on the most valuable crypto ranking. The asset trades at $207.20, with weekly gains up 31.79%.
Looking at SOL’s technical performance gives us room to believe that it is a top crypto to buy for the long term. The coin is trading above the 20-day moving average (MA) support price of $167.56. The relative strength index (RSI) figure of 73.53 shows that SOL trades in the overbought region. The moving average convergence and divergence (MACD) point to a buy signal.
2. Terra (LUNA)
Terra is another top crypto to buy. Built on the Cosmos blockchain, Terra protocol is a comprehensive, end-to-end payment solution that leverages stablecoins to power the global payment networks.
So far, the protocol has attracted interest from several payment solutions of over 15 initial partners, with a combined $25 billion in gross merchanised value (GMV) signing up with the protocol.
The Terra blockchain has been on a tear in the last few days with the successful launch of the Columbus-5 upgrade. The upgrade meant to enable seamless transfer of Terra’s stablecoin TerraUSD, LUNA, and other digital assets between networks are seen as a long-awaited answer for the protocol’s stablecoin expertise.
Also, the expected burn or permanent reduction of 10% of all LUNA tokens has lent more wings to the protocol’s growing popularity.
The impressive fundamental of the coin has seen LUNA surge in the last week with over 19.80% weekly gains recorded by the protocol. At press time,
LUNA trades at $42.77, up 3.76% in 24 hours. LUNA’s MACD shows that the digital asset is trading on the buy zone.
3. Shiba Inu (SHIB)
Popular meme coin Shiba Inu has also been a standout star in the past week. Looking to topple Dogecoin from the meme crypto throne, Shiba Inu has been on a rampage and surged to an all-time high (ATH) of $0.00004432 amid a week of strong bullish moves in the crypto market.
This recent spike in the value of the Ethereum-based joke cryptocurrency has seen it get listed on the popular trading app Public. The retail trading platform noted in a tweet that users with access to crypto can easily buy SHIB from their app.
Shiba Inu ($SHIB) is now available for members with access to crypto. pic.twitter.com/hpbGIgHIEX
— Public.com (@public) October 20, 2021
SHIB holders have also begun a petition to list SHIB on another popular retail trading app Robinhood. So far, the petition has gathered over 310,000 signatures, according to data from Change.org. The signatories have since urged the popular meme trading platform to list the Dogecoin rival.
SHIB has posted strong returns in the past week amid keen interests from investors. The digital token is trading at $0.00003845, down 6.62% from its previous high. Despite this, the ERC-20 token has a strong weekly gain of 38.38%, with an RSI figure of 77.62, showing strong investor interest. The meme coin’s continued climb up the corporate crypto ladder indicates that SHIB is a top crypto to buy.
4. Avalanche (AVAX)
The Avalanche blockchain has been one of the conservative assets of the DeFi-enabling ecosystem of networks.
The Ethereum rival, which is faster, more scalable, and energy-efficient, has begun to stir interest in its platform.
The network recently penned a deal with top Formula E racing group Andretti Autosport to serve as the title sponsor for Season 8 of the ABB FIA Formula E World Championship.
As part of the deal, Andretti Autosport will be able to use the AVAX token and the greenback in fine-tuning the title sponsorship.
Also a top destination for non-fungible tokens (NFTs), the Avalanche blockchain has been tapped as a preferred protocol to launch an NFT mural of American rap artist Kanye West.
The price action shows the coin recorded a slightly low 24-hour gain. AVAX is up 0.16% following a slow down of its price gains over the weekend. However, its seven-day price gain of 20.16% points to it as a top crypto to buy. It currently trades at $65.57, with a more uptrend expected.
5. Fantom (FTM)
Another performer on the list of top crypto to buy is Fantom blockchain. The Fantom blockchain, which operates as a base-layer protocol, has seen increased interest in the past few days.
The price of FTM has continued a strong bullish streak with several other altcoins.
Formula 1 driver Pierre Gasly selected the Ethereum rival as the destination for his NFT airdrop in the past week. The racer hopes to display a selection of his Grand Prix podium finances between 2019 and 2021 on Artion, a zero fee NFT platform.
Also, blockchain analytics firm Nansen launched on Fantom to enable users to gain more market insights while interfacing with the dApp protocol.
Currently trading at $2.8953, FTM is up 4.29% in the last 24 hours. Weekly gains also stand at 32.97%.
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