3 Best Altcoin Recommendations for the Third Week of October 2024
$ENA price surges on Ethereum’s proposal to back its stablecoin with Solana; potential for further rally.
ENA, the native token of the Ethereum dollar-based savings protocol , is the first altcoin to be on this week’s watchlist . In the past 24 hours, its price has increased by 16.54% and is now trading at $0.39.
Second on the list is EigenLayer $EIGEN . The project will be holding an unlock of 11 million tokens on October 15. Following the last unlock , EIGEN successfully recorded a 20% increase, which then sparked speculation that a similar result could happen again this time.
With the upcoming token unlock agenda, EIGEN has the potential to carve out a price increase of up to US$3.97 if demand remains strong post-unlock.
Avalanche's decision to buy back 1.97 million $AVAX tokens could trigger a price increase, with a potential 30% rally.
In April 2022, the foundation sold the tokens for $45.50 million. As of yesterday, the tokens were worth nearly $60 million. On October 11, Avalanche announced that it had bought back the tokens and was awaiting approval from the US Bankruptcy Court in Delaware.
On the daily chart, AVAX price was recorded moving close to the $30 mark for the first time in October. If achieved, this could support the altcoin to break through the downtrend line and send its price higher.
