Top Crypto to buy – these two cryptocurrencies are set to gain a lot of value in October 2021
Our gains will be greater in October. Be on the lookout for these two coins.
I did not see much action in the cryptocurrency space last month. It seems that there were majority of coins declined last month.
There could be several reasons for it. First, it was September. Stocks usually fall during this month, and that would also help explain the rise in crypto.
It could be the hundredth time China has banned crypto, or this is just the start of a bear market.
Solana produced an insane run-up of more than 200 dollars during its peak. I, unfortunately, missed out on that and it currently sits at 130 dollars.
It only takes me a couple of minutes to explain why I think 130 dollars is an absolute steal for Solana, but before you call me insane, allow me to explain why I agree.
The price for Solana was a bit overpriced to me at 130 dollars. However, as I researched it further, I realized it was reasonably priced. Perhaps it’s just a good deal at all.
People will say that a coin that does half of what Ethereum does is the next big thing if it does half of what Ethereum does. However, Solana could take the throne in the end.
Obviously, I’ve discussed this before a lot, but the problem with Ethereum is that the gas fees are outrageous and it can take a very long time to send transactions.
Even so, I cannot deny that Ethereum offers some pretty fast transactions. There has never been a situation where I waited more than a few minutes for a transaction to come through.
However, Solana has gone from strength to strength. As of this writing, Solana can handle 50,000 transactions per second, and it’s claimed that the capacity can be increased to 700,000.
It is currently processing between 15 and 45 transactions per second, which puts it in context. The comparison is absurd. The newness of Solana is another factor as well.
Almost two years have passed since the first launch of Solana in April 2020. Compared to Ethereum, it is like a grandfather to it. The fact that Solana is so new means you can think of it as a long-term investment.
There are fewer than a hundred Solana projects on its network currently. However, it is not surprising if we see thousands more in the future thanks to the ecosystem and community they have.
One more thing to look forward to with Solana is the ability to stake coins. It is also possible to stake them and earn rewards in Solana while staying for some time.
Staking is an important feature of Solana’s network because it helps validate and secure the network. In this way, you provide value to both the ecosystem and yourself.
I believe the stake rewards fluctuate but are roughly six to seven percent per annum. However, I have noticed an increase of almost 10 percent over the past year.
A number of Nft projects are also utilizing the Solana network as opposed to Ethereum.
Due to the ridiculously low fees and fast transaction times, I believe it’s pretty much free.
In the event of nft’s continued hype, we can expect a lot of people to switch to Solana’s network to avoid the ridiculous fees, causing Solana’s price to spike.
Furthermore, they have their own wallet called Phantom Wallet, which just passed nearly 400 000 active users a week, which is a substantial number.
According to the price movement, Solana is currently ranked 6th, and it is trading at around 175 US dollars.
Number 5 on this list is Tether with Binance, Cardano, Ethereum, and Bitcoin following.
It is important to note that these are very old coins, and Solana is less than two years old, which indicates that its price has been increasing significantly lately. In other words, Solana definitely has a lot of potential for growth in the future.
The price of Solana might come back a little bit, but for Solana, I’ll be dollar-cost-averaging my purchase whenever there is a reversal in the market or when I believe it’s a good time to purchase. Therefore, I will gradually purchase shares, because I believe this is an excellent long-term investment.
My honest opinion is that Solana has tremendous growth potential. But first, the community needs to embrace it in a big way. And, as I mentioned, it’s a very new coin with lots of potentials.
Using Ethereum as an analogy, compare it to when it had a value of $100 to $200 in its early days. The price of Ethereum today is in stark contrast to what everyone thought was overpriced.
As one of the largest decentralized exchanges, Sushi Swap has an online community of over 56,000 members. In the meantime, the largest decentralized exchange is Uniswap. There are some legal problems surrounding Uniswap, so the Sec is investigating the matter.
This is one of the reasons why the price of his shares dropped so sharply over the past month.
Almost 20 percent of it was lost. Sushiswap might be able to overtake Uniswap as the largest decentralized exchange with the negative press that uni swap is getting.
Furthermore, the ban on crypto in China is one of the biggest reasons why I believe Sushiswap will succeed.
I don’t think this is all that crazy since we’ve heard it a hundred times throughout history. That’s why we didn’t see a massive sell-off in the crypto market after the news was released.
Market players were already aware that it was coming and they had begun planning for it, and they began moving their mining infrastructure out of China.
But I’m sure that we will begin to see a large number of people from China using these decentralized exchanges due to the fact that binance and all these others will be blocked.
Decentralized exchanges do not require KYC, which is awesome. It’s as simple as filling out a simple form.
It’s easier and cheaper to set up than regular exchanges and you can get started almost instantly. There will be a massive shift of users to peer-to-peer exchange platforms.
Their biggest accomplishment is that they’re launching their own nft exchange platform, allowing users to buy and sell nfts. They have chosen the name Shoyu for their platform.
In addition to everything else, every sushi token holder who stakes their tokens on the shoyu protocol can receive 2.5% of every nft transaction taking place on the platform.
This is a crazy percentage of the population. In a way, the NFT market is already booming; the price per unit is already sky-high.
The idea of getting 2.5 percent from every trade is absurd. Their launch date is January 2022, but it will be interesting to see if nfts will still be relevant then or if it will just be a passing trend.
As we currently see, sushi coins are likely to see some insane price movements if the hype continues. It is ranked number 76 by market cap, which is pretty far down there. Uni SWAP ranks 12.
That’s a pretty big difference if we compare it with the price here on Sushiswap, which is approximately 11 USD at the moment.
Therefore, Sushiswap, as I mentioned, has great potential to grow in a decentralized environment. Sushiswap is expected to take over Uniswap.
Make sure you do the proper research before investing in cryptocurrencies, and you should consult a crypto expert for advice. In the cryptocurrency market, everything can happen because of its volatile nature. It is all a prediction and assumption based on the fact that crypto markets transform over time.
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