Ethereum (ETH) Could Launch First ETF This Week
There are reports suggesting that an Ethereum Exchange-Traded Fund (ETF) will launch this week. If approved by the SEC, it will be the first ETH futures ETF in the US. The Ethereum price has been on an upward trend since September 11, with a breakout from a descending resistance trendline indicating the end of the correction and the start of a new upward movement. The daily RSI readings also support this bullish trend.
Flare Network (FLR) Airdrop Leads to More Supply
The next FLR airdrop claim is scheduled for October 13, which will add more supply to the market. Historically, the FLR price has fallen during previous airdrops due to increased supply. Additionally, FLR is currently trading at an all-time low with no support below its current price, suggesting the possibility of a further decrease after the October claim.
Important Vote for Optimism (OP) on October 12
Optimism is in the process of establishing a Security Council to achieve a more decentralized network. The council will consist of 8 members and a vote on October 12 will determine if this new Mainnet security model will be approved. The OP price attempted to break out from a long-term descending resistance trendline but was unsuccessful. A successful breakout could lead to a 33% increase in price.
Hedera (HBAR) Community Meeting Sparks Interest
The “Hello Future” community meeting organized by Hedera will take place on October 6-8 in Los Angeles. Key figures from Hedera will be present at the event. The HBAR price has been increasing since September 11 and if the upward movement continues, the closest resistance will be at $0.056.
Radiant (RXD) Mainnet Launches on October 3
Radiant will launch its Mainnet on the Ethereum network on October 3. The mainnet aims to improve the incentive model for stablecoins in the Ethereum network. The RXD price recently experienced a downward movement but created a higher low and stayed above its September 20 low. If the price attempts to reach the $0.0017 resistance again, it could increase by 25%.
Hot Take: Altcoins to Watch in October
Ethereum (ETH), Flare (FLR), Optimism (OP), Hedera (HBAR), and Radiant (RXD) all have significant developments lined up for October that could impact their prices. The bullish trend in the cryptocurrency market has continued into October, and these altcoins could attract even more attention. With the potential launch of an ETH futures ETF, airdrop claims, important votes, community meetings, and mainnet launches, there are plenty of reasons to keep an eye on these altcoins this month.
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