Popular crypto analyst Paul Barron shared the top 5 altcoin projects that he thinks can be watched in October with one-month-old record highs. In the list, Cardano and Solana are among the major altcoins, as well as those who have signed new partnerships. Let’s start in the first order…
Altcoin Solana may return for more
According to Paul Barron, projects on the Solana system, as well as Solana itself, are down due to the recent mainnet issue. The analyst thinks this is a good time to accumulate more Solana or find an entry point and wait until SOL is back in the game:
Two things will happen between Solona and now and November. The first thing is that people will have a short-term memory about this mainnet issue. Secondly, we will see Solana in a full fix. Currently in the 140s, we’ll probably see Solana drop to 130. And I think this is the opportunity we see as a re-entry point.
Furthermore, the analyst adds that the total open position of Solana futures markets is $1 billion, up 640% in two months, despite the recent decline:
This figure makes Solana’s derivatives market the third largest after Bitcoin and Ether. These data confirm the interest of investors in the ecosystem.
Altcoin project Fantom may paddle with these partnerships:
Phantom (FTM), one of the latest altcoin projects dubbed the “Ethereum killer,” ranks second on the analyst’s list. As Barron says, Phantom may experience padollaration as Phantom Developer in Abu Dhabi launches soon in late October:
During our 4-day conference journey, Fantom and Keynote invite developers of all expertise levels to explore and learn to educate some of Fantom’s valued partners, foster innovation and build trust.
Meanwhile, Barron adds that since 2013 Keynote has successfully handed out responsibilities from the largest and longest-running conferences in the blockchain space, such as the North American Bitcoin Conference and the World Blockchain Forum.
Cardano (ADA) is another altcoin project that Barron offers investors to return to a potential entry point:
Cardano is a bit drab at the moment, it may continue to see some further declines. This might be a good time to jump in and start packing your bags into Cardano. The feeling of falling for Cardano is still here, you can see it. That’s what I always say to buy the reds that sell the green. This is one of those projects that I’m still a big fan of.
Avalance (AVAX) durable and assertive
The analyst says September and October have been busy months since the Avalanche Platform mainnet launch, with private securities, initial litigation offerings, DEXs, synthetics, stablecoins, prediction markets, and more.
AVAX has proven to be quite resilient despite pressure on the Chinese Evergrande default situation and comments from Chinese regulators proposing a ban on crypto trading in the country. This resilience and large private investment are positive signs; He suggests that real excitement is being built around Avalanche Blockchain and AVAX.
Audius (AUDIO) supports with artists
The last on the list is Audius (AUDIO). The project is enjoying big buzz. With six million monthly users, Audius represents less than 2% of the estimated 445 million streaming music subscribers worldwide. According to the analyst, decentralized music streaming service Audius recently announced a $5 million funding round that includes investments from some of the big names in the music world, including Katy Perry, Nas, The Chainsmokers, Jason Derulo and Pusha T. In terms of entry price, Paul Barron expects $1.29 for entry.