- The best crypto projects to explode in Q4 are EGLD, LINK, and SOL.
- Bitcoin is now facing supply scarcity which might result in price surge.
- Tiktok co-founder wants to launch social tokens on Solana.
The bullish trend in the cryptocurrency market is continuing where BTC gains 14.8% within this week. On the other hand, Ethereum also experienced more profits followed by the king of cryptocurrency “Bitcoin”.
Significantly, the best crypto projects are set to explode in Q4, 2021 with huge gains. The few interesting best crypto projects are Elgorand (EGLD), Chainlink (LINK), and Solana (SOL). According to Will Clemente, a popular on-chain analyst, as a result of the asset scarcity of Bitcoin and Ethereum, the price of these crypto-assets will rise in Q4.
Bitcoin is lacking in supply as buyers are purchasing and holding their coins which leads to a shortage in supply. Will Clemente has shared the statistics for the supply of Bitcoin where 38.2% of BTC supply is lost. Additionally, 85.1% of supply is stable in 90 days, while on the other hand, 92% of supply hasn’t been circulated in 30 days. This squeezed and scarcity of BTC supply might end up in a price surge in October.
On the contrary, the price value of Ethereum is already nearing $3,500 where its heavy resistance level is at $3,521. Thus, ETH is on its track to break this resistance level so it might cross the level anytime soon. According to the recent analytics from Documenting Ethereum platform, on October 8th it is recorded that over $402 million Ether outflows from centralized exchanges. This might result in a tremendous price surge of Ethereum in Q4.
Altcoins Set To Boom
Chingari, an Indian Tiktok challenger has raised $19 million to launch a social token on the Solana ecosystem. Adding to this, the app’s co-founder, Sumit Ghosh states that he wants to experiment with social media by launching social tokens on Solana. He also pointed out Axie Infinity for this scenario as it transformed the gaming industry.
Surprisingly, big tech firms like Galaxy Digital, Alameda Research, and Solana Capital are driving this move. With a series of events planned for the asset in Q4, the altcoin could outperform expectations once the upgrades are implemented.
Moreover, Chainlink has introduced a new unique feature of interoperability where dApps are built on their blockchain. It extends support to Ethereum to Avalanche or Elrond to Cardano as well as expands support to layer 2 blockchain networks.
The third asset on the list is Elrond, where EGLD is the native coin of Elrond. Elrond partners with Ardana to enable cross-chain smart-contract functionality. This platform acts as a bridge between Elrond and Cardano, while EGLS serves as the first cross-chain asset as collateral on the Ardana platform. This integration might step up for price hikes in Q4.
However, the crypto market displays bullish signals while Bitcoin is moving in an uptrend. If it continues then it might set up a new ATH within the end of this month. Following the leading cryptocurrencies, altcoin would also continue the same pattern. Thus, Altseason could resume in November so the market can witness significant price surges for the above-mentioned assets by December.