Altcoins are the talk of the town, with newer news updates these digital assets are in the buzz. Enthusiasts have a keen eye on ALT coins over their incredible return on investments. And the underlying potential of the platform along with consistent developments is on the radar too. Below mentioned are the assets which could explode in Q4 and are currently doing well in the market.
Elrond (EGLD)
Elrond is a blockchain protocol that aims to offer faster transaction speeds by sharding. The project describes itself as a technology ecosystem that offers De-Fi, the Internet of things, and fintech. The ecosystem’s native token is known as eGold or EGLD, which is used for paying network fees, staking, and rewarding validators. The digital asset has grown over 430% from about $52 on the 22nd of June to about $302.14 on the 14th of September.
There are three reasons which might have been an impetus to the surge of the currency which includes: a full release of the protocol’s Maiar exchange which is De-Fi protocol built on the network, the ALT coin being listed on KuCoin exchange, and partnerships and integrations that help expand the ecosystem.
Coming to the technicals, the EGLD price after swinging parabolically, formed a new ATH & currently experiencing a slight pullback. However, the price is on the verge of forming a cup & handle pattern. And as an outcome of the pattern, the price could witness a short-term dip but a massive jump could be imminent.
Polkadot (DOT)
Polkadot is one ALT coin which is in the buzz lately, the digital asset is growing despite the odds. The coin at press time is priced at $35.73, while the trading volume for the last 24-hours stood at $308,099,635. The fully diluted market cap of the coin is over $39 billion.
The ecosystem offers numerous perks, a major one including parachains which is the most talked-about feature. An increase in integration of decentralized finance, and steady development of the platform with consistent upgrades, is a focal factor for the glory of the ALT coin. The coin has grown from $22.25 on the 18th of June to $35.73 at press time.
The DOT price was trending within pivotal resistance zones in between $38.37 to $40.27 but woefully could not sustain and slip below. However, the selling pressure appears not so strong that could ease the building momentum. And hence the price could soon break through the levels and head towards the target above $55 in Q4.
Solana (SOL)
Sol is another ALT coin that is under the limelight and is under the radar of investors and traders in the crypto industry. The digital coin is showing notable movements post its 18-hour outage, wherein the network had to be restarted following an increase in transaction load. The digital coin is priced at 160.38, while the 24-hour trading volume is at $3,239,558,262. The mentioned statistics are from press time.
We can surely expect the coin to surge higher, with upgrades and corrections to the mainnet. The coin is witnessing a rise in investors which will impact the value of the coin in near future. SOL price has surged from $35.57 on the 18th of June to over $160 at press time, now that is an increase of 5X in a period of three months.
Solana price after smashing the highs above $200 trembled down quickly weakening the rally to a larger extent. The price kept crashing throughout the week yet rejected falling below $150. And hence, a substantial rally could be on the cards very soon that could uplift the price above $200 again.
Summing up, the industry is stressing over ALT coins over their potential and return on investments being much higher than that of prominent players in the industry. The mentioned coins will hold good returns provided the situation is in favour of the coins.
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