As we head into “Uptober,” the cryptocurrency market is buzzing with potential opportunities. While Ethereum continues to lead the charge in decentralized finance (DeFi) and smart contracts, its price struggles to find a bottom, with a 3-month return down by 18%. Therefore, investors must keep on emerging Ethereum rivals such as Solana (SUI), Avalanche (AVAX), and SUI as they hold the potential to turn $100 into $1,000 in the upcoming rally.
Top 3 Ethereum Rivals Set to Turn $100 into $1000 in October
The Iran-Israel war tension has stalled the crypto market’s October potential. While broader market correction has kept the ETH consolidation above $2200, these Ethereum rivals are positioned for a major reversal amid the surging on-chain activity and price breakout.
Solana (SOL)
Solana (SOL) tops our list of Ethereum Rivals due to its standout performance in 2024, high transaction speeds, and scalability. However, the SOL price shows the potential for a prolonged rally amid forming a bullish pennant pattern.
According to market analysts at CryptoCurb, this continuation pattern has been consolidating for over 225 days, signaling an imminent breakout. The trader, who has over 35.8K followers, recently advised his audience to “Prepare yourself for the Greatest Year of your Life,” reflecting his high anticipation for Solana price prediction.
SOL/USDT -1d Chart
By press time, the SOL price had traded at $146, boosting a market cap of $68.9 billion.
Avalanche (AVAX)
The layer-1 cryptocurrency Avalanche has showcased a notable recovery from $17.3 to $27.7, accounting for a 60% increase. Consequently, the AVAX market cap was boosted to $11.7 Billion. The upward movement is supported by a rising channel pattern, offering dynamic support to buyers.
Additionally, the number of AVAX addresses with balance has steadily increased to 8.96 Million, according to Intotheblock. This steady rise from an on-chain activity is poised to surpass the 10 Million address mark, signaling more users are entering the AVAX ecosystem.
AVAX Total Addresses| Intotheblock
Sui (SUI)
Among Ethereum rivals, the SUI coin showcased the highest growth in 2024, with a year-to-end growth of $170. The bullish trajectory could be attributed to developments like the Grayscale trust fund launch, USDC integration, and major collaborations.
With an intraday gain of 13.7%, the SUI price provides a decisive breakout from the $2 psychological level. The altcoin currently trades at $2.09, just 4% away from entering price discovery mode.
In addition, the SUI’s total volume locked has recently surpassed the $1 Billion milestone, according to DeFiLlama data. This increase signifies that more users are locking assets into SUI’s decentralized protocols, leading to increased liquidity and more significant usage of DeFi services.
Conclusion:
While Ethereum remains dominant, emerging rivals like Solana, Avalanche, and SUI present lucrative opportunities for investors in October’s “Uptober” rally. SOL’s bullish pennant signals an imminent breakout, AVAX’s growing user base and price momentum show strength, and SUI’s significant TVL growth points to increased adoption.
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