5 Altcoin Picks for November 2019
With October that quickly passed us by, it’s time to take a look at 5 altcoins that are set to have a notable month in terms of market performance.
October tends to be an active time of the year for the cryptocurrency market because it marks the passage of one financial quarter into another. Every year, Q3 is marked by market indecision, whereas Q4 ramps up the action as traders look to close out the year on a high.
Without further ado, let’s dive right into last month’s best altcoins.
1. Chainlink ($LINK)
Chainlink has proven yet again that it has real staying power. The oracle platform allows blockchains to communicate with their non-blockchain counterparts, giving rise to innumerable use cases. That has bolstered $LINK values over the past months – and their big partnerships with companies like Google certainly hasn’t hurt.
With Chainlink set to drop even more partnership news in the coming months, we won’t surprised to see it reaching for the moon soon.
2. Ripple ($XRP)
Ripple needs no introduction. As the crypto world’s premiere remittances network under contract by big banks around the world, Ripple has earned its bronze medal by crypto valuation. While you may feel that nothing much has changed at XRP headquarters, you’ll need to think again.
At the end of the month, Ripple’s yearly Swell conference is taking place. With 125+ speakers, including leaders in the payments industry, there is justifiable hype building behind the $XRP token. Additionally, it appears clear of charges relating to it being an unregistered security, which bodes well for the future coin valuations.
3. Maker ($MKR)
The positive traction surrounding decentralized finance keeps building, meaning good news for Maker. After all, Maker is the brains behind stablecoin DAI and MakerDAO, both of which are integral to the DeFi movement.
Just yesterday, the entire DeFi ecosystem reached a milestone with 2 million ETH locked into contracts. That number comes out to nearly $400 million and counting. As such, $MKR is primed for an interesting end of the year.
4. Dogecoin ($DOGE)
Even though $DOGE seems like nothing more than a meme, it is one that has made plenty of people lots of money over the years. Regardless of your opinion about Dogecoin, it always seems to find favor with traders during bull cycles.
If you take a look at the $DOGE yearly chart, you’ll find that every quarter the coin sees a huge upward trajectory before tapering off again. We’re currently at the bottom of its current cycle, leading us to believe that good things are on the way for $DOGE this winter.
5. Icon ($ICX)
After hitting the market for the first time, $ICX went over 50x in a bull run that amazing participants and onlookers alike. Since then, the Korean smart contract platform has tapered off, but just because it’s down doesn’t mean it is out.
Recently, the Icon team released staking on its dPoS algorithm, giving a sincere use case and value to the token. Ever since then, the outlook on $ICX has appeared much rosier. Going into the next bull cycle, Icon will be one to watch.