When it comes to cryptocurrencies, which have had an interesting time over the past six months or so, Solana should be on the list. Although it has yet to fully recover from the aftermath of the September market crash, SOL has returned from the great crypto crash of May 19 with aplomb. With that in mind, it's worth paying attention to this particular cryptocurrency.
Solana, a blockchain-based network, aims to provide an alternative or even a replacement for Ethereum. Billing itself as the world's fastest blockchain, Solana says it can support DeFi and NFT while offering lower penalty fees than Ethereum.
SOL hit a record high on Sept. 9, when it hit $214.96, despite the collapse of the crypto markets on Sept. 7, the day El Salvador began accepting Bitcoin as legal tender. This shows a certain resilience on the part of SOLA.
On the other hand, Solana's network was shut down for 17 hours on September 14. This caused the price of Sola to drop to a low of about $143. As of Oct. 7, 2021, the price is hovering around the $154 mark. So now the question is whether SOL will gain any further momentum. As it is, we don't know what will happen, but we think Solana's recent activity means it has potential worth paying attention to. There are certainly some crypto traders who think this cryptocurrency is worth investing in.
Ripple XRP cryptocurrency is another coin that could do something interesting, although there is one very important caveat. Ripple has been embroiled in a long-running legal battle with the Securities and Exchange Commission (SEC) in the United States. The SEC alleges that Ripple uses an unregistered security system, which Ripple denies. What is crucial here is what happens when the court case is finally dismissed, whenever that may be. If the SEC wins, XRP will collapse and become worthless. On the other hand, if Ripple wins the case, it is logical to assume that the cryptocurrency could gain the confidence of many investors who would otherwise stay away from the coin.
This lingering uncertainty may explain why XRP has been in relative limbo lately. The coin has fallen slightly in price over the past month, from $1.10 at the Sept. 8 close to $1.08 at lunchtime on Oct. 8. However, that doesn't tell the whole story. During the cryptocurrency's collapse in late September, the price fell to a low of $0.8607 on the day of Sept. 21. With that in mind, it looks like XRP has almost fully recovered from the damage. That means it's certainly worth investigating, though be sure to do your own research.The ripple to the dollar
When it comes to studying cryptocurrency, bitcoin (BTC) is almost a must include. It is a coin that has become synonymous with cryptocurrency to the extent that there is a collective term for any cryptocurrency that is not bitcoin: "altcoin." While bitcoin suffered a price collapse in September, it has since recovered and now trades at over $50,000. This is good news not only for bitcoin, but for cryptocurrency in general. After all, in the eyes of most people who are not involved in the cryptocurrency space, bitcoin is a crypto.
It's also not just a hypothetical value spike. Bitcoin is starting to find more practical applications in the real world. For example, on Oct. 8, the Swiss railroad company SBB announced that people can buy cryptocurrency from its ticket vending machines. Although it has not been announced if and when people will be able to buy train tickets using cryptocurrency, investors will be watching closely for any future developments. In addition, the news will generate a lot of interest that billionaire investor George Soros' hedge fund includes some bitcoin. Soros Foundation CEO Dawn Fitzpatrick said: "We have some coins - not many. The coins themselves are less interesting than the options for using DeFi and the like. I'm not sure bitcoin is seen here only as an inflation hedge. I think it has crossed the chasm to become mainstream. "Bitcoin to the dollar
Where there is bitcoin, there is Ether. The most successful altcoin is always worth keeping an eye on. Whether it's a cryptocurrency to invest in now or just something to invest in at some point, Ether and the Ethereum blockchain are always doing something. For example, on Oct. 8, it was reported that 532,750 ETH worth about $1.9 billion is currently being held by miners. This indicates that there is a belief that this altcoin will grow sooner or later, and this growth could make these miners quite wealthy. Nevertheless, it could be argued that ETH is already in a very positive position.
The value of the coin has risen sharply recently. At the end of September it stood at $3,001.68, but as of lunchtime on October 8 it had risen to about $3,620, a 20% increase over the week. This is good news for ether, and as more and more networks are added to the blockchain, its own coin is worth paying attention to. After its London hardforward over the summer, Ethereum seems to be in a strong position. Whether the Flip, the moment when ETH overtakes BTC, will happen anytime soon, is a rather moot point, because regardless of when - or if - it happens, ethereum is here to stay.Ethereum to the dollar
Finally, let's take a look at one memecoin and some similar cryptosystems. The history of Dogecoin is pretty well known. Although it was conceived as a joke, it ended up gaining a lot of popularity and became one of the biggest success stories in crypto in the first few months of 2021. The crypto's association with Tesla boss and PayPal founder Ilon Musk didn't really hurt him until he called it a "fuss" on the American television program Saturday Night Live. Nevertheless, DOJ is another coin that enjoyed a good start to October. It closed at $0.2042 in September and was trading at $0.2429 in mid-October 8, a gain of just under 20%.
Whether the DOJ, as its adherents like to say, can go to the moon is beyond the scope of this article. Nevertheless, it is useful to note that coins that pay homage to DOJ, such as Shiba-Inu and Floky-Inu, are proving interesting to explore. These cryptos can explode out of nowhere and are incredibly volatile. If you take the risk of investing in them, you could make a profit or end up losing your money. One thing you can't fault them for, however, is that they are sedate and boring.
Thus, these are some of the potential best cryptocurrencies to invest in for fall 2021. However, you should do your own research, remember that prices can go down as well as up, and never invest more than you can afford to lose.