Here are 10 Altcoins and Predictions You Should Watch in October!

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READING NOW Here are 10 Alt­coins and Pre­dic­tions You Should Watch in October!

The cryp­tocur­ren­cy mar­ket is los­ing val­ue with the Fed’s rate hikes and glob­al infla­tion. How­ev­er, this will not always be the case. As glob­al eco­nom­ic indi­ca­tors start to show pos­i­tive sig­nals, risk assets like cryp­to will again attract investors. How­ev­er, there are also some alt­coin projects that are giv­ing bull­ish sig­nals in the short term. Accord­ing to the ana­lyst, these could wit­ness mas­sive increas­es in val­ue in October.

10 alt­coins you should watch in October

As Bit­coin con­tin­ues its efforts to hold onto $19,000 after its decline last week, an ana­lyst shared 10 alt­coins to watch in Octo­ber. Accord­ing to him, these cryp­tocur­ren­cies have the poten­tial to wit­ness big ris­es in Octo­ber. The analyst’s list con­sists of 5 deriv­a­tive tokens and 5 liq­uid­i­ty tokens. Let’s take a look at the use cas­es of these tokens.

Neme­sis DAO (NMS)

Built on Binance Smart Chain, Neme­sis DAO is a decen­tral­ized finance pro­to­col. The native token of this plat­form, NMS, pow­ers the pro­to­col. It is backed by a vari­ety of assets, includ­ing NMS, BUSD, and liq­uid­i­ty pairs. Neme­sis DAO brings dif­fer­ent dynam­ics to the DeFi mar­ket through bond­ing and stak­ing. Neme­sis DAO’s trea­sury con­sists of liq­uid­i­ty gen­er­at­ed by stak­ing and bond­ing options. Alt­coin NMS max­i­mizes prof­its for DeFi investors by con­trol­ling liquidity.

Hec­tor Net­work (HEC)

Hec­tor Net­work is a siz­able decen­tral­ized net­work pow­ered by the TOR sta­ble­coin and pow­ered by the HEC token. The bond between HEC and TOR is unusu­al. Some of the cryp­tocur­ren­cies used to print TOR were orig­i­nal­ly used to pur­chase HECs on the open mar­ket. In addi­tion, these tokens were lat­er burned. Thus, it caused HEC to become a defla­tion­ary token. Focus­ing on cre­at­ing Web3, this project con­stant­ly reduces the sup­ply of alt­coins by min­ing TOR. In this way, it increas­es the val­ue of the token.

Olym­pus

Olym­pus is algo­rith­mic cur­ren­cy pro­to­col. Accord­ing­ly, it aims to estab­lish itself as a secure cryp­to-native account unit. OHM, the native token of this plat­form, pro­vides its val­ue through reserve assets such as DAI. So it’s more like a cen­tral bank cur­ren­cy than an algo­rith­mic token. By the way, it is not fixed at a cer­tain price, even if OHM is sup­port­ed. In oth­er words, the alt­coin does not work as a sta­ble­coin like USDT. Instead, OHM is used to pur­chase DAI and oth­er assets and man­age the treasury.

Won­der­land (TIME)

Won­der­land is a pop­u­lar Olym­pus DAO fork. This liq­uid­i­ty pro­to­col run­ning on Avalanche Blockchain is a decen­tral­ized reserve asset plat­form. Its native token TIME sup­ports dif­fer­ent reserve assets such as Mag­ic Inter­net Mon­ey and liq­uid­i­ty tokens. With this sys­tem adapt­ed from OHM, TIME’s price nev­er falls below a cer­tain val­ue. Accord­ing to its web­site, Cur­rent DAO Trea­sury is $136 mil­lion. This reserve con­tin­ues to increase with high-end asset man­age­ment techniques.

Alchemix Finance (ALCX)

Alchemix Finance is a future-proof syn­thet­ic asset pro­to­col and com­mu­ni­ty DAO. The pro­to­col pro­vides improve­ments to var­i­ous meth­ods of yield farm­ing through a syn­thet­ic alt­coin. In the Alchemix pro­to­col, ALCX rep­re­sents any under­ly­ing col­lat­er­al that the col­lat­er­al deposit­ing user must claim. This guar­an­tee is recov­er­able. How­ev­er, Alchemix pro­motes liq­uid­i­ty pools for syn­thet­ic assets. Thus, it allows users to instant­ly exchange their syn­thet­ic assets for real assets after receiv­ing them.

DerivaDAO (DDX)

DerivaDAO is a decen­tral­ized exchange (DEX) for deriv­a­tives on Ethereum. It pro­vides fea­tures such as real-time price feed, fast trade nego­ti­a­tion, and a rea­son­able pric­ing struc­ture. DDX token hold­ers at DerivaDAO direct­ly con­trol and audit the plat­form. The Alt­coin project basi­cal­ly aims to uni­fy the trade and Blockchain space and fill the gaps in this area. It does this through a DEX that offers pow­er­ful features.

Tranchess (CHESS)

Tranchess is a yield-enhanc­ing asset track­er released in June 2021. In oth­er words, it offers var­i­ous risk-return options. Tranchess pro­vides a diverse risk/return matrix from a sin­gle core fund that tracks a spe­cif­ic under­ly­ing asset. Mean­while, sin­gle-enti­ty yield farm­ing also incor­po­rates many DeFi fea­tures such as bor­row­ing, lend­ing, trading.

Vega Pro­to­col (VEGA)

Vega Pro­to­col works as a deriv­a­tive scal­ing lay­er for Web3, as we report­ed on cryptokoin.com. This spe­cial­ly designed PoS net­work enables the user expe­ri­ence of a cen­tral­ized exchange when trad­ing deriv­a­tives on a decen­tral­ized net­work. Mean­while, VEGA, the network’s native alt­coin asset, is used for net­work gov­er­nance and stak­ing. Accord­ing­ly, VEGA token gives its hold­ers the oppor­tu­ni­ty to earn pas­sive income and man­age the protocol.

Rib­bon Finance (RBN)

Rib­bon cre­ates prod­ucts that are struc­tured with sus­tain­able yield through finan­cial engi­neer­ing. Ribbon’s first prod­uct makes it pos­si­ble to achieve effi­cien­cy with auto­mat­ic option tech­niques. Also, the Pro­to­col allows devel­op­ers to com­bine var­i­ous DeFi vari­ants. Thus, devel­op­ers can pro­duce ran­dom­ly con­fig­ured prod­ucts. Struc­tured prod­ucts are finan­cial instru­ments that make it pos­si­ble to achieve a spe­cif­ic risk-return objec­tive, includ­ing volatil­i­ty, incre­men­tal return, or hedg­ing of capital.

Man­go (MNGO)

Man­go com­bines the liq­uid­i­ty and avail­abil­i­ty of CeFi with the per­mis­sion­less inno­va­tion of DeFi. Thus, it becomes a high-yield plat­form that requires much less cost. Man­go pro­vides futures, loans, mar­gin trad­ing and decen­tral­ized man­age­ment to achieve this goal. This alt­coin plat­form offers the oppor­tu­ni­ty to per­form trans­ac­tions extreme­ly quick­ly and at zero expense. For this, it uses the Serum DEX, which is con­nect­ed to the Solana network.

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