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Like the price of cryptocurrencies Bitcoin (BTC USD) increase, investors are wondering which cryptos are best to buy. Although there is a strong correlation between Bitcoin and other top cryptocurrencies, each coin has unique fundamentals and some are on the verge of breakout potential. These coins are buoyed by the growing enthusiasm for more liquidity in the market now that a Bitcoin ETF is on the horizon.
The cryptos discussed in this article offer opportunities for risk-adjusted returns. These coins are supported by strong network fundamentals, user engagement, and often deflationary models that keep their prices high.
So here are the top cryptos to buy that ended October on a high note.
Solana (SUN)
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Solana (SOL USD) shows a positive trend with an increase of 79.12% in the last month. It is known for its powerful blockchain that supports fast and scalable decentralized apps and crypto projects. The continued development and adoption in the DeFi and NFT spaces make Solana a strong candidate for significant future growth.
VanEck is very optimistic about SOL. It is predicted that the price of Solana could increase by 10,000% by 2030 and reach as high as $3,211.28 unmatched data throughput and affordability in tasks like NFT minting. Solana saw a 74% increase in assets under management across its DeFi apps in October.
Sol has the momentum and fundamentals to be considered one of the top cryptocurrencies to buy.
Polymath Network (POLY)
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Polymath Network (POLY USD) saw a significant increase of over 150% in October. POLY aims to simplify the legal process of creating and selling security tokens. It is a blockchain-based system that coordinates participants and incentivizes collaboration and adoption of financial products on the blockchain.
The thesis for POLY is based less on hype and more on its fundamentals. Blockchain technology is transforming the music rights industry, with companies like Polymath leading the way in tokenization. This process converts music rights into digital tokens, enabling fractional ownership and easier trading, and simplifying the traditionally complex and costly legal processes associated with transferring ownership.
POLY’s position in the market will further illustrate the idea that NFTs and related assets can and do have value in a utilitarian sense, which should make their tokens worth more in the future.
Osmosis (OSMO)
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osmosis (OSMO USD) rose by 8.23% in October, showing strong positive momentum. The cryptocurrency is an automated market maker designed for the Cosmos ecosystem. It allows for a high level of customization by liquidity providers, making it attractive for a variety of use cases.
The introduction of OSMO 2.0 brought improved governance and lower inflation, which is a significant benefit for investors.
Additionally, Osmosis’s v16 Magnesium upgrade aims to introduce supercharged liquidity pools. This gives users more flexibility in specifying pool positions and securing positions in different price ranges. The upgrade also allows liquidity providers to earn swap fees and staking rewards simultaneously.
These features are relatively rare in the DeFi space, giving OSMO an edge over its competitors. Therefore, it is one of the cryptos that investors should consider.
At the time of publication, Matthew Farley did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the author and are subject to InvestorPlace.com’s publication guidelines.
Matthew began writing coverage of the financial markets during the 2017 crypto boom and has also been a team member at several fintech startups. He then began writing about Australian and US stocks for various publications. His work has been published in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha and New Scientist magazine, among others.
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