Cryptocurrency After a very bloody September for the sector, October brought a rise again.
In fact, when we look at the annual performance of the crypto money sector, it is seen that the months of September bring a sharp decline and a red ending almost every period. The following October months come to the fore with the opposite increase.
Some altcoins have also revealed candles from the first days of the month that do not match their old performances, showing that history can actually repeat itself.
Tezos, Solana, Arweave and terra such as Layer 1 projects, have had a chance to rise in a short time. SOL has gained 28%, LUNA 23%, AR 24% and XTZ 26% in the last 7 days. Ethereum, the second largest cryptocurrency by total market capitalization, gained 13% in 7 days, lagging behind these altcoins. When we look at the market value of ETH and the market value of the others, it can be said that this is a reasonable increase.
Two Altcoins Can Sustain the Rise
So, will the rise of these crypto money projects continue in October? In fact, looking specifically at the Solana network, it seems that the NFT craze will not end in the near term. This situation ensures that the SOL is taken continuously and therefore the price increases. On the other hand, LUNA’s Compound-5 update has a positive effect on the price with the constant burning of LUNA. Although the situation seems clear for these two altcoins, it is difficult to say anything clear for AR and XTZ. On the other hand, AVAX, the fast project of the past months, is currently maintaining its stagnation.