10 Hot Coins for October 2023 – Part 1

October also goes by the name of Uptober in the crypto space. During the past 13 years, October only saw twice a red month. This is in contrast to September, which only saw 3 green months during the past 14 years. 

So, here are 10 coins for Uptober to keep an eye out on. We split this up over two articles, here’s a link to Part 2.

1) Arbitrum (ARB)

Arbitrum keeps making the rounds. It’s also the first of today’s coins we look at. The project managed to stay in the spotlights for consecutive months. Now they have the Arbitrum Short-Term Incentive Program (STIP) coming up. This is a proposal that the Arbitrum DAO members voted on. 

The proposal will hand over 50 million ARB tokens to various Arbitrum projects. This can be a stimulus to the ecosystem. It can stimulate an increase in liquidity. Optimism did something similar, and it saw its TVL go from $300 million to $1 billion. 

Currently, this STIP already has 105 applications. These were for the most part from DeFi projects. For example, from DEXes, yield aggregators, and lending platforms. 

The current price of ARB is $0.8796. Its market cap is $1.12 billion. The max and total supply are 10 billion ARB tokens. 1.275 billion already circulated. The picture below shows Arbitrum in numbers.

coins

Source: Arbitrum

2) Solana (SOL)

Solana had a very tough time after the FTX collapse. From a $259 ATH in November 2021, SOL slumped to below $10 in December 2022. However, things are turning around for Solana. Their TVL is increasing. According to DeFiLlama, they take the 9th spot of all chains in TVL. 

This year has also seen serious improvements in Solana’s uptime. There was only one glitch in February. For the rest of the year, the chain has seen uninterrupted uptime. 

Solana can also boast a lively and active community. For example, there’s an active NFT community, with some great projects. For instance, Drip Haus is starting their third season later this month. Furthermore, Dandies, Mob Studios, and Okay Bears are good NFT projects.

The current price of SOL is $23.29 with a $9.63 billion market cap. There’s an unlimited max supply and a total supply of almost 600 million SOL. The circulating supply is 413 million SOL.

3) Radiant (RDNT)

Radiant Capital was about to launch its mainnet on Ethereum. However, there’s now a delay until 15th October. That’s because they found better ways for gas optimization. This should lead to a better user experience. This upgrade should also increase the platform’s TVL. 

Radiant is currently Arbitrum’s lending and borrowing platform. We also included Radiant in our recent video about three coins to follow in October. Furthermore, Radiant is a $3.36 million recipient of the Arbitrum STIP. This will go to further the ecosystem development.

The current price of RDNT is $0.2376 with a $77.6 million market cap. Max and total supply are 1 billion RDNT tokens. 325 million tokens already circulated. RDNT went 708% up over the last year.

4) Rollbit Coin (RLB)

Rollbit is a gaming and trading platform. They see themselves as crypto’s most innovative casino. Besides casino games, it also offers futures trading with 1000 leverage. Furthermore, you can also trade NFTs. The RLB token has no inflation. The team buys back and burns RLB from parts of their revenue. 

Rollbit is a proactive platform. It adapts to customers’ needs all the time. The project also ventured into sports sponsoring. This year’s football season, they became the official European betting partner of SSC Napoli. That should get them a foot inside the door of the Italian betting market.

The current price of RLB is $0.1461 with a $481 million market cap. The maximum supply of RLB tokens is 5 billion. The total and circulating supply is already 3.29 billion.

5) DYDX (DYDX)

DYDX should launch their V4 on Cosmos this month. It’s also the last of today’s coins for Part 1. That will cut all their ties with Ethereum. Cosmos offers faster and cheaper transactions. It’s a mighty DEX. Each day, they manage to have 50%+ of all on-chain futures volume. 

One of the new features of their V4 is revenue share. The V4 will also see full decentralization. Furthermore, their orderbook is also an unusual feature for a DEX. The DYDX token may see a price increase because of all this news. However, there’s also a big 152 million token unlock event in December. That’s around $76 million at the current price.

The current price of DYDX is $1.95 with a market cap of $345.2 million. The max and total supply is 1 billion tokens. Currently, 176.8 million DYDX circulate.

Conclusion

October is also known as Uptober in the crypto space. We are looking into 10 coins to keep an eye out for during October. This is Part 1. For Part 2, please refer to the top of this article.

 

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.

We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence.

Copyright Altcoin Buzz Pte Ltd.

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