September saw a 3.12% monthly decline in the market capitalization of cryptocurrencies, falling from $973. 9 billion at the start of the month to $943.5 billion by the conclusion. However, given the market’s current gloomy trajectory, here are 5 cryptocurrencies that investors should be aware of in October 2022:
1. Bitcoin, the leading cryptocurrency asset, is still in trouble as there are still many compelling signs that further price falls are imminent. In addition to the report from contributor to CryptoQuant Edris, data from Glassnode indicates that Bitcoin may soon trade as low as $12,000.
2. Cardano’s ADA 2. One of the major blockchains, Cardano, uses a proof-of-stake consensus process, which consumes less energy than Bitcoin’s proof-of-work method. Although Ethereum, which is significantly bigger, has converted to PoS, this change will only happen gradually.
3. Ether from Ethereum The largest smart contract platform for digital assets is still Ethereum; which hosts a wide range of financial goods, innovations, and automation with varied degrees of decentralization (generally referred to as DeFi).
4. The SOL of Solana Since Solana uses a PoS model similar to Cardano’s blockchain, frequently referred to as an Ethereum rival.
5. XRP : The XRP Ledger’s native cryptocurrency, XRP, can be used as money to make purchases on the platform and elsewhere.