Wednesday, May 29, 2024

What Tokens Are Capable Of “Explosive” Growth In November?

Trader Michael van de Poppe spotted three altcoins likely to rise significantly in the coming weeks

Trader Michael van de Poppe named three altcoins, which, in his opinion, are ready to rise rapidly in the current month. In the near future, Polkadot, Curve Finance and Chainlink will be able to show high returns, the analyst says.

Polkadot (DOT)

At the moment, the Polkadot token is in an uptrend, within which the altcoin may rise in price to $ 60 (an increase of 34% from current levels), Van de Poppe predicted.

In his opinion, the cryptocurrency is in the accumulation stage, after which it will be able to renew its historical maximum.

On November 1, Polkadot traded at $ 44.7. During the day, altcoin rose in price by 7%, and its capitalization increased to $ 46.7 billion, according to CoinGecko. Monthly growth was 40%. The token set an all-time high in mid-May at $ 49.3.

Polkadot is an internal token of the project of the same name, which aims to create the decentralized Internet of the future (Web 3.0). It is interoperable with other blockchains and allows the creation of smart contracts and new blockchains.

Curve Finance (CRV)

For almost a year, the Curve Finance token has been trading in a narrow range from $ 2.1 to $ 5.1, the analyst noted.

According to him, in the coming weeks, the altcoin may break out of this range and show impulsive growth.

The nearest target within the upward movement for Curve Finance is in the region of $ 13.2 (a rise in price by 200% from current levels), the trader is sure.

On November 1, the Curve Finance token is traded at $ 4.4, and its capitalization is $ 1.7 billion. During the day, the altcoin has fallen in price by 2%, growth over the month – 75%. The cryptocurrency has set an all-time high in mid-August at $ 54.

Curve Finance is a decentralized trading platform for exchanging cryptocurrencies and stablecoins. 
The exchange has issued its own CRV governance tokens, which allow holders to participate in the development of the project.

Chainlink (LINK)

In the near future, the Chainlink token may show high returns, since the altcoin has gone through a deep correction over the past six months, van de Poppe said.

According to the trader, Chainlink is capable of impulsive gains in line with the current Bitcoin uptrend and the massive popularity of the decentralized finance (DeFi) space.

On November 1, Chainlink is trading at $ 30.4, and its capitalization is $ 14.1 billion. Over the course of the day, the altcoin has risen in price by almost 4%, over the month its value has grown by 16%. The token set an all-time high at the beginning of May at $ 52.7.

Chainlink is the first network of decentralized oracles between blockchains and smart contracts, among its partners is the Swift payment system. Also, the coin is in the portfolio of the Grayscale investment fund.

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