After the ups and downs in the crypto space last month, crypto analyst Lark Davis has highlighted 5 cryptocurrencies to watch out for as the new month commences. According to Davis, some cryptocurrencies will surge exceedingly in the month of October. The analyst advised the investors to keep their eyes open as the crypto assets advance in value.
Lark Davis: Top cryptocurrencies for October
In a YouTube video uploaded on the 29th of September, Davis mentioned the 5 cryptocurrencies with outstanding potential in October. The 5 cryptocurrencies to watch out for in October, in Davis opinion, are Solana (SOL), Polygon (MATIC), Elrond (EGLD), Polkadot (DOT), and Bitcoin (BTC).
The crypto analyst referred to the ongoing challenges the crypto market is facing with the Securities and Exchange Commission (SEC). He also mentioned the ongoing China crackdown on crypto. Despite all the setbacks, Davis believes Solana is a strong blockchain. In recent months, Solana has made its way to the top 10 crypto assets by market cap. Solana is currently ranked 6th largest crypto with a market valuation of over $54 billion. Davis said one of the most interesting things exciting him with Solana is the launch of NFTs on the blockchain.
Davis noted that Polygon has been struggling to climb again to $2 over the last 2 months. The crypto fanatic stated that he remains bullish on Bitcoin. He revealed that he has a “huge bag” of the coin which he has no plans to sell until the price increases. He is expecting to sell his MATIC holdings when the crypto reaches $5. Davis mentioned that recently Polygon had more daily active users (DAUs) than Ethereum, a first time ever. MATIC has 351,000 DAUs compared to Ethereum’s 326,000 DAUs. He stated that the higher DAUs on Polygon is because the platform provides the same services as Ethereum and at cheaper costs.
Davis expresses excitement over Elrond’s growth
Furthermore, Davis said Elrond has “all the great technology,” and the blockchain is even yet to unveil the “juiciest part of the technology.” Expressing his excitement about Elrond, Davis boasted:
We see the user accounts growing. We see the amount of transactions growing which is you have to keep in perspective we don’t really have any operational applications yet on Elrond. So 8.4 million transactions without really anything for people to do is still pretty gosh damn good.
In the video, Davis declared that he added Polkadot to his list because of the possible launch of parachains on the main Polkadot chain in the next few weeks.
In conclusion, the Youtuber said Bitcoin is positioned for an increase in the coming month. He said that a Bitcoin ETF is coming really soon, and he asserted his point with a temporary post by Coinbase about the BTC ETF. In the post, Coinbase wrote that the Bitcoin ETF is right behind the corner, and Davis thinks it may be inside information. In Davis’ opinion, the launch of a Bitcoin ETF will catalyze the value of the No 1 cryptocurrency.