4 Altcoins Likely to Gain Value in November
Popular crypto trader and analyst Ben Armstrong shared 4 altcoins that are likely to gain value in November.
According to the analyst, the popularity of the Solana (SOL) platform comes from the fact that it is fast, inexpensive to use, and has a growing ecosystem that is flooded with high-quality developers. The analyst uses the following statements:
“The Solana NFTs are on fire and DeFi is waiting in the wings to take their steps. If you’ve been with Solana for a while, there’s a lot to celebrate and the SOL knights are doing just that with the Breakpoint festival taking place in Lisbon, Portugal this month. It’s less than a conference, Solana’ ‘s progress over the past 12 months, and gives developers, marketers and the community a chance to connect, unwind and brainstorm about the future of Solana.”
In terms of price prediction, Ben Armstrong predicts that SOL will rise to $500 this month and could even go as high as $1,000 if more ETFs are announced, as altcoins will start trading places and climbing up the rankings.
Next on the list is Illuvium (ILV), an Ethereum-based blockchain game with triple-A graphics and gameplay. The analyst emphasizes that metaverse cryptocurrencies will definitely break out this month, as pressure from Facebook transforms itself into a full-fledged metaverse.
Ben Armstrong points out that while working on Ethereum, the gas fee is not an issue for Illuvium. The game is integrated with a zero gas layer-2 chain called Immutable X, a custom-built layer built specifically for NFTs. This allows Illuvium to have a complete package of NFT trading, minting and even staking. In terms of price action, the analyst says the ILV token has seen an incredible move this year from around $55 to an all-time high (ATH) of $1,200, and he also expects continued 2X growth from there.
Secret Network (SCRT)
Secret Network (SCRT) enables you to build and use a data-secure Blockchain for smart contracts and both permissionless and privacy-protecting applications. The analyst makes the following assessment:
“Privacy blockchains will be the backbone of DeFi for years to come. Projects like Secret will be the vanguard and center of the future fight against central powers over your money.”
The Secret project, on the other hand, received a huge boost when the Supernova upgrades that launched Secret’s mainnet last month took place on the main-chain. And their IBC integration has allowed them to connect with Cosmos, giving the Private Blockchain the ability to work with Ethereum, Monero, Terra, Polkadot, and more. The Secret token price has seen significant gains, up 536% over the past few months. However, the crypto analyst emphasizes that since there has been a solid pullback for several weeks, the price will definitely rise from there.
“Secret has the potential to hit an all-time high of $30 or more this cycle.”
Last on the list is Ripple (XRP). Ben Armstrong expresses his positive comment that XRP will be the most parabolic gainer of the top 15 cryptocurrencies this cycle:
“Once the engines of XRP turn on, even Ethereum and Bitcoin will be in awe. The SEC lawsuit is the gateway factor that will open the faucets on XRP. A few hours after the SEC fled and closed the case or ran some weak fines against Ripple, XRP Coinbase and it will be relisted on other exchanges and the feeding frenzy will begin.”
In terms of price prediction, the analyst expects XRP to exceed $8 and even rise above $15 in this cycle.