November has historically been a great month for the crypto market, and this year may be no different. Bitcoin has already broken through the $35,000 barrier again, signaling the possibility of entering the early stages of a bull market. Miles Deutscher’s chart suggests that we may currently be in the disbelief stage. With that in mind, here are some altcoins to keep an eye on this November.
First up is Injective (INJ), an app chain on the Cosmos Hub. It offers fast speeds and doesn’t charge any gas fees, making it attractive for developers. Injective specializes in financial apps and also offers a small but thriving NFT marketplace. Its strong performance since mid-October, with a 78% price increase, suggests that it may continue to see upward gains throughout November.
Next is Mina Protocol (MINA), known as the world’s lightest blockchain. With a fixed size of only 22kb, it allows anyone to run a node straight from their phone. While its TPS is relatively low at 22 transactions per second, Mina focuses on privacy using zero-knowledge proofs. The MINA token has seen over 50% growth since mid-October and has potential for further upside.
Chainlink (LINK) is another altcoin worth watching. After a period of sideways action, LINK has recently seen a 50% increase in price. As the number one oracle in the crypto space, Chainlink plays a crucial role in supplying blockchains with off-chain information. Its decentralized computing platform is important for any tokenized asset strategy.
Lastly, DYDX is a leading perpetuals exchange that recently made a move from Ethereum to the Cosmos Hub for its V4. This migration offers a more decentralized environment and higher throughput. While the layer 1 chain is not live yet, DYDX has already seen an increase in total value locked (TVL) and volume.
In conclusion, November holds potential for the crypto market, and these altcoins could see further growth. Keep an eye on Injective, Mina Protocol, Chainlink, and DYDX as they navigate the market and make advancements in their respective fields.
Hot Take: Altcoins to Watch in November
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