After a bright August, Cryptocurrency had a volatile September. A combination of regulatory anxiety and China's recent ban on virtual currencies drove the industry worth of all Cryptocurrencies down slightly under $2 trillion. However, the decline hasn't been quite as severe as to what occurred in May. Then there are a number of encouraging signals, like the general upward trajectory of widespread acceptance. In addition to AMC Theaters' announcement that it would begin accepting Cryptocurrency payments before the end of the year, Verifone, one of the major distributors of merchant payment terminals worldwide, recently announced a partnership with BitPay to enable Cryptocurrency payment processing. Potential details of proposed new Bitcoin regulations in the United States might become clear in October.

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Ever since the earliest days of Cryptocurrencies, whenever there were just a few of Crypto assets in circulation, the definition of an Altcoin has shifted. Previously, alternative Cryptocurrencies were defined as those that deviated from Bitcoin (BTC). These days, Cryptocurrency commodities cover a far wider range of activities. Many other Cryptocurrencies as well as tokens have use beyond mere currency, making them less direct rivals of Bitcoin. For the time being, however, any digital asset that is not Bitcoin is known as an "Altcoin."

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October 2022 offers the best opportunity for everyone to watch close or look out for the following Top 4 Altcoins:

        1. Chainlink (LINK)

Smart contracts have been a major topic of discussion as of late. These micro-programs exist on the distributed ledger and are configured to execute themselves in response to a certain event. For instance, bad weather might trigger a payout on a farmer's insurance policy. However, what mechanism does the smart contract determine if and when the aforementioned requirements have just been satisfied? Oracles are used by it. In addition, Chainlink is well recognized as a top oracle system. In a nutshell, Chainlink converts data from the actual world into a form that can be processed by smart contracts. Although Chainlink's value has over quadrupled this year, it still pales in comparison to that of other, more prominent Cryptocurrencies. On the other hand, it has just established a data cooperation with Cardano (ADA) to power its smart contracts. Alphabet is also using it for non-Crypto related work, namely the creation of mixed blockchain apps. Such a workhorse should be on your radar, since Chainlink collaborates with several other Cryptocurrencies.

        2. Filecoin (FIL)

The Filecoin platform offers a decentralized alternative to centralized services such as Dropbox and Google Drive. People effectively lease spare storage space on other computers rather than storing data in the cloud. With Filecoin, information is fragmented and encrypted, and data centers are rewarded in FIL tokens for maintaining data accessibility. The goal is to have Filecoin connectivity outperform more established means of storing information in terms of speed, cost, as well as safety.

        3. Harmony (ONE)

Harmony is off to a strong start this year, up more than 3,500% from the beginning of the year. Similar to Solana, Cardano, Cosmos (ATOM), and Algorand (ALGO), it is a competitor to Ethereum (ETH) in the smart contract blockchain market. Harmony has these traits, in addition to being inexpensive as well as quicker to conduct transactions. Compatibility, or the means through which different blockchains may exchange data, is also fostered. This October, it will accomplish a number of its long-term objectives. It has recently launched a $300 million fund aimed at luring in construction firms. If that's enough to separate it from the competition in such a tight contest yet to be determined.

        4. Decentraland (MANA)

Large technology firms have already been investing heavily in Metaverses, or imaginary realms. Among some of the Cryptocurrency community's many online spaces, Decentraland ranks high in popularity and longevity. Land may be bought, sold, and developed by users, who can construct everything from museums to dungeons. A piece of digital real estate went for $900,000 in June. Such MMORPGs might appear as a passing phenomenon caused by the global epidemic. Further investigation into this trend is warranted when prominent figures like Facebook's Mark Zuckerberg declare that they believe Metaverses to be the future of the internet.

The Bottomline

In the United States, the best Cryptocurrency exchanges provide these four other currencies. But before you purchase, do your own due diligence and only risk what you can manage to forfeit. Every month, we highlight a handful of currencies that we think have promising use cases, but ultimately, it's up to you to choose how much risk you are willing to take. Even if October is a wonderful month to keep a watch on these currencies, it's not a good idea to look at your investment in Crypto on a monthly basis.

Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.