TOP-6 CryptoCurrencies - What to invest in November
A new selection of altcoins from Altcoin Daily, which will rise in November on news occasions, but you can buy now with an eye to medium-term investments and making a profit in 2022. This is a relevant scenario for investing in cryptocurrency, given that the growth of bitcoin and the entire market along with it can last until the summer of 2022.
This selection includes the following cryptocurrencies: Ethereum, Cardano, Polygon, VeChain, Polkadot, and Chainlink. All of these coins are top altcoins that were trending in the first half of this year and have huge upside potential.
Altcoin Daily uses reverse numbering in their collections, so we will do so. So coin # 6 is Polygon, the leading tier 2 solution for the Ethereum network. Many expect this cryptocurrency to have not yet realized its full potential and the growth we saw from January to May was just the beginning for something bigger.
As a reason for the increase in the price of Polygon, the news is given that the operator of sports events DraftKings intends to join their network as a validator. They want to actively develop the NFT token market and have chosen Polygon as their base platform; it is also worth adding that the number of unique addresses in their blockchain has exceeded 100 million.
Let's add two news from ourselves that the company specializing in digital assets, Bitwise Asset Management, also believes in Polygon . They set up a foundation for Polygon that institutional clients will have access to. The developers also paid a $2 million bonus for a vulnerability discovered in time, which could lead to losses of $ 850 million. It is bad that such a hole was in the code, but very good that it was identified in a timely manner, and that the program to eliminate vulnerabilities is effective.
The top 5 altcoin was Polkadot, which announced the availability of $ 800 million worth of cryptocurrency in their treasury. The savings are in their own DOT tokens , and now the governing board, in fact the community, can vote for various ways to use this money. For example, to allocate grants for the development of the DeFi ecosystem is one of the options. Moreover, if no decision is made and the funds do not go anywhere, they will still work for the benefit of the community as a result of monthly burning. That is, either we take money and use it to develop the ecosystem, or we destroy part of the coins to reduce emissions, now almost 240,000 DOT or $ 10 million are burned every month.
This is an interesting and generally effective approach to the development of Polkadot, but we want to draw your attention to good conditions for the growth of this cryptocurrency in the next six months. The coin is already near the maximum price value, break above and there will be no resistance from the sellers. And also on November 11, auctions for parachains will start, which will last until the beginning of next year, on these events you can grow practically without stopping. By the way, there are favorites, the first five parachains, which will be the first to win the auctions.
Top 4 token is VeChain, a project that offers business solutions for supply chain management. Among their partner companies that are interested in this technology, there is even such a giant as Walmart, however, we are talking about a Chinese branch and cooperation is at an incomprehensible stage. They seem to be interested, but what is actually being done is not clear, and so on most partnerships.
Altcoin Daily pointed out that VeChain's growth may come from a new partnership with global express delivery leader DHL. Here it is necessary to clarify that we are talking again about the Chinese branch of DHL, and they also plan to release some kind of NFT to attract attention. It is not clear how this should solve problems with logistics, on the other hand, if this cooperation comes to real application, it will be very cool.
We also want to add that a crisis in the delivery of goods has already begun in the world, both at the international level and within the countries themselves. This is a good time for VeChain to offer their own solution to the situation, the question is whether they can. And another good news is that the first phase of their blockchain update may take place before the end of the month, and the market loves this kind of news.
The third place went to Cardano, at the end of September they announced a partnership with the telecommunications company Dish Network to integrate blockchain technologies into their service. This news did not come out at the best time, then the market was dominated by bitcoin, but if it gets continued in the form of a real application, then, of course, we expect the price to rise.
The next interesting point is that the founder of Cardano Charles Hoskinson will travel to Africa, and everyone is waiting for him to bring good news from there . Investments in this country and projects with Cardano amounted to $ 100 million, and how would it be where? While there are only promises and expectations, there are even rumors on the network that Africa needs Cardano more than these countries need their blockchain. Therefore, you need to monitor the development of the situation.
And news from us: the developers have decided what they will do next with Cardano. Now, after the launch of smart contracts, they will focus on improving everything that can be improved to make the network even faster and more stable. It's good that they have a goal, but it's bad that it is so vague - the market loves specifics and loud announcements.
In second place was the Chainlink coin , which is now deservedly criticized for its too weak reaction to the recovery of the crypto market. But the guys from Altcoin Daily are sure that this phenomenon is temporary, because the project is a leading blockchain oracle and everyone, without exception, wants to work with it.
They cite data that in August and September their oracles were connected to themselves by 76 and 84 different organizations, including Cardano. And they say that platforms such as Ethereum, Solana, Cardano and others, which create one large global computer, will develop, and with them Chainlink will grow, without which the interaction of the digital and real world is impossible.
In general, it is difficult to argue with this logic, it remains only to wait for implementation in practice. And to make it easier for you to cope with the agony of waiting, we have found two really good news for you. For example , the international news agency Associated Press became a new user of Chainlink . Also, the "whales" have accumulated 25% of LINK tokens on their wallets , which is the maximum in four years. So not only Altcoin Daily, but also “the whales believe in the great future of this coin.
TOP-1 according to Altcoin Daily next year will be Ethereum , of course we are talking about altcoins, and in terms of capitalization, this cryptocurrency will still remain in second place after bitcoin. But 2022 will be exactly the year of ether, because the merger of the current blockchain and the POS-based network can happen between May and June. Here is such an unexpected update on the timing of the transition to Ethereum 2.0.
Why unexpected? Because earlier Vitalik Buterin said that the full launch of Ethereum 2.0 will take the whole next year, and this is at best. We also remember the story that often the developers postponed important updates for six months, because they did not have time or there were failures during testing. If it were not for these delays, the ether would already have to work on the POS algorithm.
But for the market, the main indicator is price, and so far Ethereum is showing strength, practically updating its historical maximum the other day. It retains its leadership among altcoins, and we believe that during the upcoming growth it will remain the TOP-2 cryptocurrency in terms of capitalization, and its price may reach $13,000.