The cryptocurrency has started another week with low volumes. Bitcoin is still stuck around the $19k, and most altcoins are yet to make any moves. The good news is that with such low volumes, a small spike in buying volumes could see most cryptos turn green in the short term.
With this in mind, it makes sense to start scouting for altcoins with the potential for a price spike. Below are some of the cryptocurrencies that could do well before September ends.
Cosmos (ATOM)
Cosmos (ATOM) has been holding up for the better part of September, even as the rest of the market turned heavily bearish. If it keeps making gains while the rest of the market stagnates, investors could FOMO in and drive ATOM to new heights in the short term.
Besides ATOM’s price action indicating a potential rally, there is much to look forward to for ATOM in the coming days. For instance, Cosmos is in the process of launching Interchain Security (ICS), and it’s a big deal.
That’s because it allows Cosmos validators to secure and generate blocks for other chains. This will give even more value to the Cosmos token and further add to the intrinsic value of the Cosmos ecosystem. This factor could see ATOM easily emerge as top-performing crypto in the coming days and potentially make its debut in the top 10.
Polkadot (DOT)
Polkadot (DOT) is one of the top cryptocurrencies with big news, and it’s responding pretty well. The big news around Polkadot is that Tether is launching on Polkadot. While the price is yet to make any significant moves, DOT seems to be forming a potential breakout pattern on the weekly charts. If the broader market gains upside momentum, especially with Bitcoin breaking through $20k, then Polkadot could easily start October 2022 in double or even triple-digit gains.
Compound (COMP)
Compound (COMP) has been gaining upside momentum for the past week. While there is no major news around Compound (COMP), the increasing price momentum will likely draw in speculators scrambling for any gains in a highly depressed market.
Such FOMO buying could be reinforced by the fact that Compound is not just a random altcoin. It is one of the older and better-known DeFi cryptocurrencies in the market today. This makes it a pretty logical bet for anyone that believes the future of cryptocurrencies is in DeFi. Compound’s low supply further adds to its potential to rally, especially if it gets enough momentum from speculative investors.
Terra Classic (LUNC)
Terra Classic (LUNC) has recently dropped hard after Interpol raised a red alert on founder Do Kwon. However, Terra Classic seems to have overcome this shock and is up in double digits. If this reinspires momentum around Terra Classic, it could easily end the week among the best-performing cryptocurrencies and one with good prospects throughout October.