Market Overview
Bitcoin started October with a downward trend, briefly dipping to around $59,000. However, it has since rebounded strongly, reaching $68,422 recently. As the market turns bullish, investors are eyeing altcoin opportunities. Here's a breakdown of Bankless analysts' predictions for top altcoins, with a 70% October prediction accuracy rate.
Top Altcoins to Watch
Bullish Picks
1. dYdX (DYDX)
- Sector: DeFi
- Catalyst: Launched a US election prediction market, potentially boosting staking yields.
- Current Price: $0.96 (↑1.28%)
2. Jupiter (JUP)
- Sector: DeFi (Solana-based DEX aggregator)
- Catalyst: Grayscale added JUP to its watchlist; strong product-market fit.
- Current Price: $0.88 (↓3.66%)
3. Thala (THL)
- Sector: DeFi (Aptos ecosystem leader)
- Catalyst: Benefits from Aptos’ growth; Move language advantage.
- Current Price: $0.51 (↑6.14%)
4. Aptos (APT)
- Sector: Layer 1
- Catalyst: High throughput (160K TPS); rising TVL and active addresses.
- Current Price: $9.13 (↑9.97%)
5. Axelar (AXL)
- Sector: Interoperability
- Catalyst: New cross-chain tools (Mobius Stack); L1 boom synergy.
- Current Price: $0.65 (↑23.15%)
Bearish Picks
1. Uniswap (UNI)
- Sector: DeFi
- Risk: Unichain rollout requires bridging; poor swap execution.
- Current Price: $8.35 (↓9.1%)
2. Wormhole (W)
- Sector: Cross-chain infrastructure
- Risk: Declining volume; unsustainable token unlocks.
- Current Price: $0.36 (↓17.48%)
3. EigenLayer (EIGEN)
- Sector: Restaking
- Risk: Overvalued; low AVS yields expected.
- Current Price: $4.00 (↓16%)
4. ether.fi (ETHFI)
- Sector: Liquid staking
- Risk: High FDV; continuous airdrops diluting value.
- Current Price: $1.82 (↓8.24%)
5. Solana (SOL)
- Sector: Layer 1
- Risk: Stagnant ecosystem; outperformed by other L1s.
- Current Price: $156.15 (↓1.84%)
Key Takeaways
- Bitcoin’s rally could fuel altcoin rotations.
- Aptos and Axelar are top bullish bets with strong fundamentals.
- DeFi tokens (UNI, W) face structural challenges.
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FAQ
Q: Why is Bankless bullish on Aptos?
A: Aptos combines high throughput with growing TVL, ideal for DePIN applications.
Q: What’s the risk with ether.fi?
A: Its token is heavily diluted due to perpetual airdrops, pressuring prices.
Q: How accurate are these predictions?
A: October predictions had a 70% win rate, but always DYOR.