We’ve been monitoring the crypto market weekly to spot the best-performing crypto coins. The crypto market is showing signs of recovery thanks to a couple of events, such as Grayscale’s victory over the SEC. An appeals court has ordered the SEC to review Grayscale’s application.
So far, the crypto market is optimistic. And certain crypto coins reacted to this optimism during October’s third week. Here they are.
1) Bitcoin SV (BSV)
Bitcoin Satoshi Vision, also known as Bitcoin SV, has made our list for the second consecutive week. The BSV coin is on a bullish run, pushing its gains by 31.2% last week. Bitcoin SV is a 2018 fork of the original Bitcoin blockchain.
The project seeks to operate in line with Satoshi Nakamoto’s original vision for Bitcoin. BSV currently trades at $52.49, marking its highest level in months. Binance recently listed BSV perpetual futures at 50 times leverage. And many believed this revived interest in BSV.
It's interesting to see the surge in Bitcoin SV this week, especially after its significant drop from its all-time high. The introduction of the new perpetual contract on Binance seems to have had a positive impact on the price. However, it's worth noting the controversy…
— Chuan Ngo (@vietchuan8) October 23, 2023
It’s important to note that Bitcoin SV’s growth and surge aren’t tied to any specific news or community update. Instead, it is capitalizing on the surge in Bitcoin’s (BTC) value this week. There has been a lot of speculation that the SEC will soon authorize a spot Bitcoin ETF. And this might lead to an influx of institutional investments in the US.
2) Chainlink (LINK)
Chainlink has surpassed expectations in recent weeks. The LINK token was up 39.9% last week. And has been on a bullish trajectory since late September. Although the price of LINK was surging rapidly, the reason behind this looked like a mystery.
However, research shows that some planned innovations within the Chainlink ecosystem are the drivers behind this surge. Part of the planned updates is the launch of Chainlink Staking v0.2.
#Chainlink Staking v0.2 is launching later this year ⬡
Built upon the foundation set with the v0.1 release last December, v0.2 is the introduction of new staking platform:
– Unbonding Mechanism: Stakers are not locked in but rather can initiate a withdraw at any time
– Liquid… pic.twitter.com/aQgKZhOaXn
— ChainLinkGod.eth (@ChainLinkGod) October 23, 2023
Chainlink Staking v0.2 introduces new features to the ecosystem, including:
- An unbonding mechanism that enables stakers to withdraw their funds at any time without being locked in.
- Liquid rewards enable stakers to get their rewards without penalty.
These updates have created a buzz around Chainlink.
3) Solana (SOL)
Solana is our final gainer from last week. The SOL token rose by 29.9% in October’s third week and is one of the coins to watch out for. Solana has outperformed rivals like Cardano and is currently ranked as the 7th cryptocurrency by market cap.
🚨 BREAKING: Solana's weekly DEXs volume has experienced a staggering 71% surge, soaring from $445.52 million to $531 million in the past 24 hours. pic.twitter.com/fPBqgdzhCi
— Sol Bulletin 📌 (@SolBulletin) October 22, 2023
There’s been massive activity within the Solana network. For example, daily NFT sales hit $1.4 million recently. In addition, the total value locked in DeFi protocols exceeded $355 million. Several experts predict that SOL could hit $57 by December. In the last 7 days, SOL grew 33.1%.
Several metrics point out that Solana is on a bullish run. Data from Santiment shows social dominance. The Solana community has stayed active and positive about the network’s future. There’s currently a strong bullish analysis and investor confidence backing Solana. So we could further grow in the coming weeks.
Conclusion
The coins listed here have shown good signs. But we often advise you to do research before investing. Observe these coins and how they react to macroeconomic events.
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 the 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.
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