The material is published for informational purposes only. Cryptocurrency is a volatile asset that can lead to financial losses.
Five altcoins that could show "explosive" growth in November. Pay attention to Polygon, Avalanche, Chain link, Filecoin and Trochaic tokens.
Polygon is an Ethereum-compatible second-tier side chain that runs on the POS (Proof-of-Stake) algorithm. This network runs faster and with lower commissions than the main Ethereum network.
Notes the growth of the Avalanche network, which is rapidly increasing the number of addresses and transactions. The number of active Avalanche addresses reached a new high of over 70,000. All these factors are likely to provoke a rapid growth of Avalanche token in the near future.
On October 29, the altcoin is trading at $65.7. During the month Avalanche gained 7%, and its capitalization exceeded $14.5 billion. The last time the token reached an all-time high at the end of September at $79.3.
Chain link and Filecon assets are considered promising because they are actively building synergies with other crypto projects and are among the most advanced projects in the digital asset industry. Chain link and Filecon may take a larger share of the crypto market in the future.
On Oct. 29, Chain link is trading at $31.5 and has a capitalization of $14.6 billion. The token is up 42% in a month. At the same time, Filecoin is priced at $60.6 with a market valuation of $7 billion for the project. The value of the altcoin is up 9% in a month.
Chain link is the first decentralized oracle network between blockchains and smart contracts, and among its partners is the Swift payment system. The coin is also in the portfolio of investment fund Grayscale.
The Trochaic token managed to rise in value by almost a third in the last week. This is just the beginning of an upward movement for the altcoin, and it has the potential to continue rising next month. The decentralized cryptocurrency exchange platform is actively developing and becoming more popular among users.
On October 29, Trochaic is trading at $13.8. During the month the token has risen by 110%, and its capitalization rose to $4 billion. Altcoin updated its historical high in mid-May at $20.8.