“October Bull – Uptober” has become a reality, high profits and euphoria are spreading in the market. As Bitcoin hits a new ATH, expectations for altcoins also seem to be growing. Most altcoins, however, exhibit confusing trajectories that leave participants stunned and confused.
With BTC recovering, however, one thing is certain – altcoins could also make big moves if BTC momentum stalled.
So which altcoins will complement the portfolio well and when will they increase?
Coins valued at or under $ 1, including ALGO, MATIC, and XLM, have performed decently over the past month. But what is the short-term trajectory? Let’s find out together.
What inexpensive Altcoins like ALGO, MATIC and XLM offer is easy entry and steady returns for newbies.
At the time of writing, ALGO is trading around the $ 2 mark, posting a daily gain of 5.9%, while MATIC is hovering near the $ 1.80 mark with a gain of 4%.
MATIC / USDT. Source: TradingView
In contrast, XLM is trading at $ 0.37 with a gain of just 0.1%.
XLM / USDT. Source: TradingView
Over a longer period of time, all three altcoins went into a consolidation. While MATIC showed some significant signs of a breakout with higher highs, ALGO’s price struggled around the $ 1.95 mark for some time. Additionally, XLM is down nearly 10% from its monthly high of $ 0.42 on October 16.
ALGO / USDT. Source: TradingView
However, despite the recent consolidation, all three offer pretty good medium and long-term ROI.
In fact, ALGO and MATIC also had high short-term ROI. MATIC has a one month ROI of 46.60% and a weekly ROI of 11.11%. Despite its 47.50% reduction compared to ATH, ALGO has a monthly ROI of 9.07% and a weekly ROI of just under 8%.
With constant upgrades, Algorand’s game is “unmatched” for scalability and speed, according to COO Sean Ford. ALGO is currently performing 1000 transactions per second and will soon transition to 10,000 TPS in the first quarter of 2022.
As for MATIC, Bitwise recently announced the Polygon Fund, which is providing solution exposure to improve its Defi and NFT skills. In fact, Polygon has seen high levels of investor participation over the past week, with the highest number of active addresses this week in almost 3 months.
When it comes to pricing, XLM lags behind. However, the deal with MoneyGram International is an important milestone and serves as a good boost for the network. Overall, all three coins look good.
But one aspect that seems to be missing is development.
Source: Sanbase
At the time of writing, the growth activity of these three altcoins is close to an all-time low. This is a worrying indicator that could prove to be a major hurdle.
However, with Bitcoin still bullish on the charts, the chances of a solid altcoin-led rally appear slim.
It seems that altcoins have a lot of room to rise, but it is necessary to wait for the altcoin season to begin and monitor the BTC dominance chart to determine when to start.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Annie
According to Ambcrypto
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
Discover why Qubetics, Cosmos, and Chainlink are the best cryptos to buy in November 2024.…
Best Cryptos to Buy in December 2024: Qubetics ($TICS) presale explodes, Ethereum (ETH) eyes a…
Palo Alto, California, 21st November 2024, Chainwire
Best Cryptos to Buy: Qubetics presale rockets ahead, Bitcoin nears $100k, and Avalanche prepares to…
London, United Kingdom, 21st November 2024, Chainwire
The move will see developers utilize USDC on Aptos in creating dApps on a wide…
This website uses cookies.