Here are six crypto tokens we believe are worth investigating as October nears. We believe these all have tremendous upside. With the recent market correction, all of these tokens are at a tremendous discount.
Polkadot (DOT)
For introductory information on Polkadot please see our article [here]. For transparency, DOT remains one of my top 5 holdings by weight. I plan on staking DOT through the bear market and only taking minimal profit if we see a blowoff top this cycle. DOT remains 45% off the all-time-high, creating a great opportunity for a blockchain ecosystem. DOT should have both short and long term upside as a crypto project for October and has massive upgrades coming soon. DOT’s test network Kusama has had great success with the parachain testing, which implies that DOT is close to launching its much-anticipated mainnet parachains. This should be a great price motivator for short-term assuming Bitcoin behaves itself. DOT remains about 12x smaller than Ethereum today. That gives DOT a massive runway if the Bull-market resumes. DOT will also remain strong if Ethereum holds up. DOT can be staked directly using its network or on the Kraken exchange for 12% interest.
Cardano (ADA)
Next on the list is our beloved Cardano and the ADA token. We have covered Cardano a few times, including in our intro article [right here]. We have been treating ADA as a risk hedge similar to holding Ethereum. It has strongly resisted the market drops over the past few months. ADA is another long term crypto investment and we plan on holding this for years. Cardano smart contracts went live September 12th, after nearly 4 years of anticipation. This means that projects that have been building on Cardano can finally go live and start fortifying the network. ADA remains 35% below the recent all-time-high and tends to move a bit slower now that it is well over a 50 billion dollar market cap. ADA is one of the most staked tokens of all time with over 70% of the available supply staked. ADA offers between 4-5% APY in ADA as rewards, this compounds over time. We have ADA on this list because it is just getting started. It will be building partnerships with governments and public companies with the esteemed leader Charles Hoskinson. We believe that now is a great time to dollar-cost-average for both veterans and crypto newcomers.
Polygon (MATIC)
Our third token to check out is Polygon’s MATIC token. For more basic information on MATIC see our article [here]. MATIC has rebranded to Polygon, keeping their token name the same. Polygon helps to make Ethereum more scalable, through lower fees, more users and faster speeds. Polygon has an expert team of marketers that have built a massive foundation of partnerships. Recently Polygon surpassed the daily active addresses on Ethereum for the first time [1]. This is massive news showing adoption of their much lower fee network. Using Polygon is much more user friendly than Ethereum at this time; trades are fast and fractions of a cent. MATIC offers around 10% staking APY directly on the MATIC network. MATIC remains a whopping 60% from the all-time-highs, a theoretically great opportunity. Recently, traction has been picking up for NFT use on Polygon, since the gas fees are so cheap more and more people are building NFTs on the network. MATIC can also be viewed as a way to get Ethereum exposure without holding Ethereum. MATIC tends to outperform Ethereum over time, but is more volatile, this volatility will decrease over time as it solidifies itself as a layer 2 leader.
Theta Network (THETA)
To switch things up, we turn our heads to Theta Network, which aims to overtake YouTube through blockchain technology. Our THETA article can be located [this way]. THETA is a massive 70% below the all-time-high, this phenomenon has been discussed regarding lower market cap tokens generally being more volatile. Theta Network is another partnership powerhouse with massive institutional interest including Samsung and Sony. Theta has two tokens, the second is TFUEL which is also down about 60%. TFUEL is used to power on chain payments, video stream sharing, and smart contract deployment. In the future, instead of paying a subscription fee, users can simply own TFUEL token to participate on the network. Viewers share excess bandwidth and other resources to create higher quality, smoother streaming services. Theta network also allows new developers to avoid creating an expensive video infrastructure, building a community, incentivizing network use. Theta appears to be a bullish crypto project for October.
Sushi Swap (SUSHI)
Our final token we recommend checking out is Sushi Swap’s SUSHI token. Similar to the other tokens in the article, SUSHI finds itself 60% below prior highs. SUSHI was one of our three defi picks for September that can be found on Coinbase PRO [article]. Sushiswap can be staked directly through the Ethereum network for around 5-9% APY (fluctuates based on network usage). SUSHI appears to be tremendously undervalued as it has the most blockchain integrations of any decentralized exchange. Sushi also has been steadily increasing daily volume, and carries over 4-Billion dollars in liquidity. Sushiswap has positioned it self to have early integration with Cardano. If it were to move first, the price would pump dramatically. Using Sushiswap has turned out to be very easy and user friendly. Users can switch between their favorite blockchains quickly, providing access to almost any viable token in crypto. I am currently providing liquidity on Polygon, along with lending some tokens for an APY with minimal downside.
Where to find These Tokens?
As of October, Every crypto project mentioned above except THETA can be found on Coinbase PRO. THETA can be found on Uniswap, Sushiswap and other ERC compatible DEXs.
Thesis
The thesis for these tokens is discussed in their individual articles. But realizing that most tokens are down more than 50%, is a thesis within itself. For transparency’s sake, MoC and I combined carry all of these tokens collaboratively, so we do have some bias. Each token mentioned has broken past the 1-2 Billion dollar market cap, proving themselves in the crypto space. Tokens over 1-2 Billion dollars tend to drop much less than really small market cap crypto picks. Adding Large market cap tokens during times of uncertainty tends to be a reliable strategy during these market dips. We believe that now is a great opportunity for newcomers and crypto veterans alike. None of this information is financial advice, please use this as education aiding in formulating your OWN research and investor thesis. We hope this has helped save some time along the way.
[1] https://coingape.com/polygon-matic-surpasses-ethereums-daily-active-addresses-first-time-history
