5 Cryptocurrencies with Potential for Rise in October

Brazilian giant bank BTG Pactual announced the top 5 cryptocurrencies with the highest profit potential for investors in October. The report prepared by the crypto platform Mynt based its selections on important factors such as institutional demand, network security, and real-world use cases.

The report emphasized that there is a general optimism in the market, especially with the easing of interest rates in the U.S. and new ETFs on the way. Mynt analysts highlighted Bitcoin (BTC) as a necessary cornerstone for long-term portfolios. The $3.5 billion influx into spot Bitcoin ETFs in September and the addition of 43,000 BTC to corporate treasuries demonstrate that Bitcoin remains a favorite among institutional investors.

The report also made significant evaluations for Ethereum (ETH). The Mynt team noted that Ethereum continues to maintain its characteristics in terms of stablecoin transfers and tokenized asset projects. The $11.3 billion investment in ETH spot ETFs over the last six months and the purchase of 816,000 ETH in September alone indicate that Ethereum is preserving its central position.

Other cryptocurrencies like Solana and Avalanche are also attracting attention. The report revealed that Solana reached over $100 billion in DEX volume in the last three months and holds significant liquidity in DeFi. Additionally, its total value locked (TVL) has surpassed $30 billion. Avalanche (AVAX), on the other hand, experienced a 46% increase in on-chain transaction numbers and a 421% growth in stablecoin transfers. BTG Pactual stated that Avalanche's "subnet" structure, developed for corporate use, significantly contributes to its growth.

At the end of the list, Sky Protocol (SKY), the newly branded name of MakerDAO, draws attention. The report highlighted the protocol's income potential with the $8 billion supply of the USDS stablecoin and the Sky Savings Rate program offering a 4.75% return. It was also noted that Sky Protocol has conducted a token buyback of $77 million to date.

According to BTG Pactual, these five cryptocurrencies as investment tools in October have high profit potential for investors during this bullish trend period.