Generally, the cryptocurrency market has experienced a decent rally in the past two weeks, with major assets registering short-term buying pressure. The considerable increase has now made market predictions more bullish going into November, indicating an upcoming altcoin season.
In this line, the renowned crypto trading expert Michaël van de Poppe in a YouTube video posted last Friday, suggested that most altcoins (other cryptocurrencies apart from bitcoin) are gearing up for the continuation of a rally.
“The altcoins most are eager for continuation but we are definitely looking for some consolidation on the market to take place. It is looking quite good and I think that we are on the edge of a big breakout across markets,”
The crypto winter can be said to be still in play, but it doesn’t mean that you can’t make some money in the market. Because of this, here is a list of five coins you should keep an eye on in November 2022.
Binance is the largest global cryptocurrency exchange by volume. It is a blockchain network seeking to become the infrastructure services provider for the entire blockchain ecosystem.
One of the reasons why investors should pay significant attention to the ecosystem native token, $BNB, in the month of November is the newly found romance between Binance and the Elon Musk-newly acquired Twitter.
Recall that CZ disclosed that Binance invested $500 million in the takeover. Also, the firm is already positioning itself to play a huge role in incorporating web3/blockchain features into Twitter. These and other moves will continue to substantiate its position as the largest cryptocurrency exchange. The bigger the exchange becomes, the bigger the value of its native token.
Also, Poppe suggested in the video that the Binance token is in line to continue with an upside trend, having seen more than a 15% increase last week. The technical analysis of the token is dominated by positive sentiments pointing to buying.
BNB tops our list of cryptos to invest in this November for these reasons.
Merit Circle is a decentralised autonomous organization (DAO) that focuses on developing the play-to-earn economy. While the concept behind Merit Circle is not entirely new, the project is a leading DAO aiming to maximise value accrual across different games in the metaverse.
Related post: DAOs: All you need to know and why you should join one
The community’s native token is on our list of coins to consider for investment in November because there are technical indicators of upward movement.
Also, Version Two of Merit Circle staking will launch this November. It will offer two core pools: A single-sided staking pool for MC and an MC/ETH pool. The latter will receive 80% of the liquidity mining rewards due to the higher risk of impermanent loss.
The community atmosphere is positive at the moment with preparations for the development. The closest resistance of the token, which is trading around $0.7 at the moment, is $1.18. If it is successful in moving above it, it could rapidly increase all the way to $1.95.
Polkadot is one of the most innovative crypto projects on the market, and it solves one of the biggest hurdles of the crypto industry. Polkadot and its token, $DOT, provide unparalleled interoperability to blockchain businesses globally.
This project has firmly established its place in the crypto market and is gaining popularity. As a result, it attracts the interest of a lot of investors. There is now a bit of hype and buzz on the network as it is one of the leading blockchains by developer activity, according to data by Santiment, having overtaken Ethereum and Cardano.
Also, numerous laid-down upgrades will improve staking, government processes, and transaction speeds. $DOT is a good coin to bet on in November.
This content is for informational purposes only and should not be construed as investment, tax or legal advice. It is strongly recommended that every recipient seek appropriate independent professional advice before acting on any information contained herein, as Technext provides no endorsement, opinion or advice, including investment, tax or legal, and makes no representation or warranty about the suitability of a product for a particular reader or circumstance.
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