AUDIO, FTM, and 3 altcoins are under analyst Paul Barron’s radar in October
Popular crypto KOL Paul Barron shares with his subscribers the top 5 possible breakout altcoins to watch in October, a month of proven record highs.
First on the list is Solana (SOL). According to the trader, projects on the Solana system as well as Solana itself have all been in a spiral moving down because of the recent mainnet problem. Barron points out that this is a good time to accumulate more Solana or find an entry point and wait until SOL gets back in the game.
“Two things are going to happen with Solna between now and November. The first thing is people are going to have a short-term memory about that mainnet problem. And the second thing is we’re going to see Solana in a full-on correction. It is at now in the 140s, we’re probably going to see Solana move down into around a 130 mark. And i think that’s the opportunity where we see a re-entry point,”
Moreover, the analyst adds that despite the recent setback, Solana futures markets aggregate open interest sits at $1 billion, a 640% increase in two months.
“This figure makes Solana’s derivatives market the third largest, behind Bitcoin and Ether. This data confirms investors’ interest in the ecosystem,”
Fantom, which is the latest coin to be nicknamed the “Etherium killer” is the next coin on the list. As the analyst says, Fantom is going to price pump as Fantom Developer in Abu Dhabi is coming soon in late October.
“Fantom and Keynote invite developers from every expertise level to explore and learn alongside some of Fantom’s esteemed partners to educate, spark innovation and build confidence during our 4-day conference journey.”
The trader adds that Since 2013, Keynote has successfully been responsible for the largest and longest-running conferences in the blockchain space, such as the North American Bitcoin Conference and the World Blockchain Forum.
Cardano (ADA) is another coin that Barron recommends traders to revisit back into a potential entry point.
“Cardano’s a little bit deflated right now it could continue to see some more fall off. This may be a good time to go in and start packing your bags on Cardano. You can still see the falling sentiment here for Cardano. What i always say buying the reds selling the green. This is one of those projects that I’m still a big fan of,”
The crypto KOL says that September and October are the busy months since the mainnet launch of the Avalanche Platform with private securities, initial litigation offerings DEX’s, synthetics, stablecoins, prediction markets, and more.
“AVAX has proven remarkably resilient despite pressures related to the China Evergrande default situation and comments from Chinese regulators suggesting a ban on crypto trading in the country. That resilience and the sizable private investment are positive signs; they suggest that there’s real excitement building around the Avalanche blockchain and its token.”
Last on the list is Audius (AUDIO). Audius is enjoying outsized buzz. With six million monthly users, Audius represents less than 2% of the estimated 445 million music streaming subscribers around the world.
According to the trader, this decentralised music streaming service Audius has recently announced a $5m funding round that includes investment from some big names in the music world including Katy Perry, Nas, The Chainsmokers, Jason Derulo and Pusha T.
In terms of entry price, the crypto KOL is looking for $1.29 AUDIO to give another retry.