Three Altcoins to Watch in the Fourth Week of October

3 Altcoins on Investors' Radar

The crypto market is shaken by significant developments in the fourth week of October. Network upgrades, ETF decisions, and key unlocks present strategic opportunities for investors. The developments this week are among the critical factors that will determine the direction of altcoins.

COTI: Innovation and Potential

One of the notable altcoins this week is COTI, which has completed the Hydrogen upgrade. This update aims to enhance speed, scalability, and network security. However, after a brief rise following the upgrade, COTI has gradually lost value. After rising to $0.5393 on October 10, it experienced a decline of over 35%. The first significant support level is $0.040; if this level is surpassed, COTI is expected to progress towards $0.055.

Cardano: ETF Excitement

Another important altcoin is Cardano. This week, expectations related to the ETF approval process are creating a positive catalyst for Cardano. The probability of the U.S. spot Cardano ETF being approved has risen to 89%, and the SEC's final decision is expected by October 26. If approved, Cardano could attract the interest of institutional investors like Bitcoin and Ethereum.

Toncoin: Key Unlocks and Volatility

Lastly, Toncoin is attracting attention with an $80 million token unlock planned for October 23. Such large token unlocks can create new supply and induce short-term uncertainties. After recently gaining 6% in value, Toncoin has lost 2% in the last 24 hours along with the overall market decline. Investors are advised to be cautious during this period.

The 3 altcoins to watch this week offer opportunities to investors, while maintaining a careful approach in a volatile market environment is crucial. Alongside these developments, important support levels and ETF approval processes may shape your investment strategies.