is being[In]Crypto took a look at five promising cryptocurrencies for October 2022, as well as events surrounding their respective projects.
Reserve Rights (RSR)
- Price: $0.00811
- Market value: $342 million
- Ranking: No. 97
RSR is the original token for Reserve protocolwhich was launched in 2019. RSR secures stablecoin reserves (RTokens) through staking.
In the long term, the protocol aims to create a decentralized global stablecoin that is also inflation-proof, while not being pegged to any fiat currency. For this, the protocol accumulates a set of tokenized assets, which in turn will support the currency.
Announce protocol reserve start Publication of its full protocol in October, with the mainnet launch date most likely until October 10th. At that time, the platform and decentralized application (dApp) will be activated, allowing RTokens to be created.
The price of the RSR token broke through the descending resistance line on September 23 and proved to be support three days later (green arrow). Since then, the price has been rising and creating a bullish recovery candle on September 27th.
If the uptrend continues, the next resistance area will be found at $0.012.
Theta Network (Theta)
- Price: $1.10
- Market value: $1.09 billion
- Rank: No. 46
THETA is a blockchain-powered network, based on video streaming, launched in 2019. Its native token is THETA, which is mainly used for governance.
Its utility symbol is Theta Fuel (TFUEL), which distributes bonuses to streamers. Theta Network’s primary goal is to decentralize video streaming, making it more efficient and cost-effective for content creators and consumers alike.
Theta 4.0 mainnet, as well as the Theta Metachain SDK, are scheduled to be released on test network
On the first of October. This will be the last step before the public launch scheduled for December 1st.
Token price theta It is above the $1.10 horizontal support area since May.
Although it appeared to pass below this area on Sept. 20, it has since regained it. If THETA falls back below this area or establishes itself as support, this is likely to set the direction of the trend.
- price: $48.75
- Market value: $1.14 billion
- Rank: No. 45
Elrond is a blockchain protocol that features the use of a hashing mechanism, which enables extremely fast transactions. Its smart contract execution platform is capable of executing 15,000 contracts per second at a cost of just $0.001.
The original code for the platform is EGLDwhich are used for storage, pay network fees, and reward validators.
Several new items are expected to be launched between October and the end of the year. significantly :
- Elrond Growth 2.0.0 Update
- Elrond Gemeve
- Stage 4 of Staking
- NFT market
- A multi-signature model for DAO
EGLD token price has been falling inside a falling wedge pattern since August 18th. After consolidating for more than a month, the price started to rise on September 28 and broke the wedge two days later.
If the uptrend continues, the nearest resistance area is at $57.50. This is a horizontal resistance area and the 0.5 Fibonacci retracement level.
Fluky Eno (Fluky)
- price: 0.0000082 $
- Market capitalization: 74,764 Millions of dollars
- Classification: No. 2772
Floki Inu aims to launch three projects:
- metaverse for games using non-fungible tokens (NFTs) (Valhalla).
- A marketplace for NFT derivative products (FlokiPlaces)
- Educational platform (Floki Inversity)
In addition, Floki’s Project L was launched in July. It is a utility protocol that burns FLOKI tokens for transactions, making this asset a deflationary currency. Other updates Planned between October and the end of the year, such as a patch update for Valhalla, DeFi staking and farming, as well as Gemstone NFTs.
FLOKI price has been declining since it peaked on August 2nd. On September 18, the price broke through an ascending support line and proved to be resistance on September 27 (red arrow).
In the event of another bearish move, the nearest support area will be at $0.0000065.
- price: 53.91 $
- Market capitalization: 3.84 billion of dollars
- Rank: No. 21
Launched on October 7, 2011, Litecoin (LTC) is one of the oldest cryptocurrencies in the industry, and was created based on a protocol bitcoin (BTC). However, it differs in its hashing algorithm, block transaction times, and hard cap.
The cryptocurrency has undergone several updates over the years, the biggest of which recently was the MimbleWimble test, which launched in late 2020. Litecoin Annual Summit It will be held October 22-23 in Las Vegas.
Between July 29 and September 13, the price of LTC Created a triple top pattern below the $64 horizontal resistance area. The third rally also generated a very long upper wick, which is a sign of selling pressure.
On September 19, LTC reached the $52 horizontal support area and bounced back. Hence, it is currently trading in a range between $52 and $64.
All information on our website is posted in good faith and for general information purposes only. Any action taken by the reader based on the information on our site is entirely at his or her own risk.