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From bitcoin to ethereum, tether to dogecoin, there are too many cryptocurrencies in the market to choose from. The top cryptocurrencies are attracting investors looking to diversify their financial portfolios. The adoption of cryptos is growing exponentially. Businesses and nations are adopting cryptos as legal means of payment. Coins like ethereum, Cardano, Shiba Inu have shared big headlines and are becoming immensely popular by the day. The crypto market is in the recovery phase as the bulls are trying to seize the market. Now is a good time to invest in cryptocurrencies based on one's budget. In this article, we talk about the top affordable and potential cryptocurrencies that traders can choose in October.
Market Cap: US$8.678 billion
VeChain is one of the most affordable cryptocurrencies in the market today, but with a high escalation potential. The VeChain currency is based on the VeChain Thor Blockchain. It is specifically designed for handling supply chain management and various business processes with the help of distributed ledgers. VeChain aims to use distributed governance using IoT technology and create an ecosystem that solves major problems with supply chain management.
Market Cap: US$35.547 billion
Initially, dogecoin creators envisioned it as a fun, light-hearted cryptocurrency that would have a greater appeal to the crypto investors beyond bitcoin, since it is based on a dog meme. But DOGE the crypto has risen considerably since the past year. Several experts have named it as a viable investment option.
Market cap: US$70.287 billion
Due to Cardano's flexible network and fast transaction features, it is expected to remain one of the most popular cryptocurrencies in the market. ADA is a public, open-sourced blockchain and has positioned itself as a competitor against bitcoin and ethereum. The crypto seeks to provide long-term solutions to overcome the current challenges of the decentralized finance landscape. The value of Cardano has increased incredibly over the past year.
Market cap: US$14.08 billion
It is a blockchain abstraction layer that enables universally connected smart contracts. Chainlink allows blockchains to interact securely with external data feeds, events, and payment methods by providing the crucial off-chain information needed by complex smart contracts to become the dominant form of digital agreement.
Market cap: US$15.103 billion
Shiba Inu is another of one the most affordable cryptocurrencies in the market. Its trading volume is up by 12.09% in the last 24 hours. This crypto is also known as the 'dogecoin killer' as it poses direct competition to DOGE in the market. This meme crypto is quickly gaining momentum in popularity, and its community of investors is drawn to it by the cute charm of the coin paired with tweets and updates from personalities like Elon Musk and Vitalik Buterin.
Market cap: US$157.801 million
Polygon is an ethereum-based blockchain network and provides a framework for creating a network of interlinked blockchains. It uses an innovative blockchain that focuses on overcoming the drawbacks of ethereum. The project aims to solve the blockchains' interoperability and scaling challenges. Its Plasma framework gives Polygon the potential of housing an unlimited number of decentralized applications on the network without facing any basic drawbacks.
Market cap: US$4.632 billion
The smart contract platform claims to execute millions of transactions per second while eliminating transaction fees. EOS aims to provide secure access and authentication, permissions, data hosting, use control, and d-App-to-internet connectivity. Currently, it is one of the biggest rivals of ethereum and is rapidly gaining more traction among investors.
Market Cap: US$43.193 billion
It is an open-source sharding multichain protocol that facilitates the cross-chain transfer of not only tokens but also any data or assets. The DOT protocol connects public and private chains, permissionless networks, oracles, and future technologies, facilitating these independent blockchains to securely transfer information and perform transactions through the polkadot relay chain.
Market cap: US$3.683 billion
IOTA is a cryptocurrency and an open-source distributed ledger built for IoT technology. It is capable of storing transactions in its ledger using a directed acyclic graph. It has the potential to become more scalable than the blockchain-based distributed ledger. Moreover, the IOTA marketplace is block-free, which means all transactions are free.
Market cap: US$16.09 billion
It is an ethereum-based decentralized application that enables users to trade ethereum tokens via liquidity pools. Uniswap has two main functions, delivering and utilizing liquidity. With the help of smart contracts, the protocol allows for automatic transactions between crypto tokens on the ETH blockchain.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
