Best Cryptocurrencies to Buy: Top Trending Coins in October Week 2

Crypto investors are back in the market as the nascent sector swells above the $2 trillion mark. But, how do you choose the hottest coins? Can you make money from trending coins? This article explores the top trending coins to buy for massive returns.

1. Bitcoin (BTC)

Leading the crypto market back to winning ways, Bitcoin is one of the trending coins in the last 24 hours. The world’s decentralized cryptocurrency, Bitcoin has become the brand face for the $2.3 trillion industry with even more uptrend projected.

Bitcoin’s Weekly Performance and News

Coming from a dull September performance, Bitcoin has largely been on a tear in the first week of October. The digital asset is up 14.72% in the last week and trades at $54,233.76. The premier digital asset’s 52-week price-performance stands between $10,355 and $65,000, following a 500% run-up to blockchain prominence this year.

Bitcoin has shown a lot of resilience following a recent ban on crypto trading by the People’s Bank of China. After racking up significant gains in early September, the announcement saw the benchmark cryptocurrency shed more than 5% of its value.

Bitcoin has started October on a strong footing, with positive news propping the digital asset once more. An earlier rally to $56,000 followed a recent admission by the Soros Fund Management CEO Dawn Fitzpatrick of owning Bitcoin.

Another is the recent approval by the US Securities and Exchange Commission (SEC) of the closest thing to a Bitcoin exchange-traded fund called Volt Crypto Industry Revolution Tech ETF. This hedge fund is expected to consist of companies with large holdings in Bitcoin.

67% of all retail investor accounts lose money when trading CFDs with this provider

2. Fantom (FTM)

Operating on a directed acyclic graph (DAG), the Fantom blockchain is a protocol focused on enabling the seamless running of decentralized finance (DeFi) and non-fungible tokens (NFTs) on its platform.

Using the popular PoS consensus algorithm, Fantom is a highly scalable, energy-efficient, and cost-effective protocol and is rapidly becoming a media favourite.

Fantom’s Weekly Performance and News

Although trading below $5, FTM has been on a tear in the last few days. The current valuation of $2.32 shows that FTM has surged 33.92% in the past day with a whopping 72.65% weekly gain.

The sudden surge in the value of FTM has been attributed to a couple of positive market news. In a recent release, Fantom was picked as the host blockchain for OpenSea rival Artion.io. The NFT marketplace is set to displace OpenSea with near-zero transaction fees and 0% commission trades. Alongside this, Fantom also recently launched DeFi lending and borrowing protocol Geist Finance.

This is after it has been picked as a principal blockchain partner by the OJSC Orienbank of Tajikistan to trial its hybrid central bank digital currency (CBDC) program named E-SOM. FTM has been on an uptrend and has continued to trade above the 20-day moving average (MA) support price of $1.3636. FTM’s relative strength index (RSI) figure of 78.74 shows why it is one of the top trending coins and why investors are out to buy FTM.

67% of all retail investor accounts lose money when trading CFDs with this provider

3. Solana (SOL)

Solana is one of the trending coins in the past week. Sporting an innovative PoS and proof-of-history (PoH) timing mechanism, Solana is one of the fastest blockchain protocols in the crypto space. It also requires less energy in validating transactions and is more cost-effective than popular rival Ethereum.

Solana’s Weekly Performance and News

SOL’s 52-week price range between $0.50 and $213.47 shows a geometric increase in the token’s value in the last year. At current price, SOL is trading at $166.74, up 7.97% in the last 24 hours. This current price peg puts SOL 8% off its previous high on September 9 and shows SOL is a crypto asset with high growth potential.

In a highly saturated crypto market, SOL has been able to carve out a strong following and has so far recorded 33.058% increase from its low of $0.50. It has been rightly dubbed an Ethereum successor as it tries to pry the DeFI dominance from the rival protocol.

Adoption-wise, the Solana blockchain leads the retinue with major integrations occurring most of August and September. In the last few hours, Indian TikTok challenger Chingari launched on the Solana platform. This follows a $19 million funding session led by Republic Crypto and boasting crypto bigwigs like Galaxy Digital, Alameda Research, and Solana Capital.

Also, full-suite DeFi platform GooseFX for the Solana protocol recently raised $4.5 million in seed funding. The raised funds are expected to further the protocol’s ambitions to deliver a complete DeFi experience on Solana and Serum DEX.

SOL is showing strong technical margins on the trading chart as it trades above the 100-day MA price of $88.17. An RSI figure of 59.39 shows growing interest in the protocol as the crypto market rounds the corner.

67% of all retail investor accounts lose money when trading CFDs with this provider

4. Polygon (MATIC)

Layer-two protocol for the Ethereum network, the Polygon network, is one of the standout stars in the thousands of cryptocurrencies in the market. Since rebranding in March, Polygon has become the top destination for Ethereum transactions as users leverage on its 65,000 transactions per second (TPS) rollup protocol to avoid high gas fees and network congestion.

Polygon’s Weekly Performance and News

Polygon’s token has had a stellar year and surged to a record $2.714 in mid-May, crystalizing its position on the top 20 most valuable crypto assets by market cap. It currently has a 52-week range of $0.0031 and $2.714. Its current valuation of $1.382 sees it down 25% from its previous high.

Polygon’s 7.74% rally in the last 24 hours puts it among the trending coins crypto investors are snapping up quickly.

The multi-chain solution’s growing influence has seen several protocols integrate with it. A recent addition to the Polygon family is the Amun protocol which operates the Polygon Ecosystem Index (PECO). The index token is expected to track the best-performing native projects currently building on Polygon’s SDK modular framework.

Another such positive is popular digital assets firm Osprey Fund adding Polygon to its list of crypto services for institutional investors.

Pegged the Osprey Polygon Trust, crypto investors with deep pockets will now be able to get exposure to the ERC-20 token cost-effectively.
On the technical trading chart, Polygon is showing strong bullish potentials. The MATIC token is trading above the 100-day MA indicator price of $1.219, with strong support expected at $1.30 in the event of a market downturn. A strong RSI figure of 58.10 points to a growing interest in MATIC token.

67% of all retail investor accounts lose money when trading CFDs with this provider

5. Algorand (ALGO)

Much like the Ethereum network, Algorand is a blockchain protocol that seeks to support the adoption of DeFi-facing services. It also supports NFTs, is secure, scalable, and energy-efficient. Although it does not enjoy a lot of media attention, Algorand is one of the top trending coins today as more investors consider ESG-conscious protocols.

Algorand’s Weekly Performance and News

The Algorand blockchain protocol has largely been on an uptrend much like several other crypto protocols with record integrations shooting it up the crypto ranks. However, governance token ALGO has not had a smooth sail this year. Tracking the price action of premier digital asset Bitcoin,

ALGO has largely rallied and shed gains in a volatile atmosphere. This saw it surge to a mid-year high of $2.38 in early September before dipping dramatically. Meanwhile, the project has not entirely lost track of its price action and has a 52-week range between $0.1 and $3.56.

Following on the tracks of major protocols, Algorand has been making strategic partnerships as it looks to flesh out a market for its ecosystem. The Ethereum killer signed a partnership deal with Bitcoin-friendly nation El Salvador to build a blockchain infrastructure for the remittance-dependent Latin American nation.

To further boost its throughput capabilities, Algorand protocol launched its Algorand Virtual Machine (AVM) version 0.9. This is expected to enable smart contracts combining during atomic transfers and will also support looping and subroutines, amongst several other features.
The Algorand blockchain launched a $330 million fund to boost ecosystem engagement.

On the trading charts, ALGO is trading above the 100-day MA indicator of $1.24 as the crypto market catches some tailwinds.

67% of all retail investor accounts lose money when trading CFDs with this provider