-->

I’m buying Algorand, VeChain, and Elrond on October 7, and this is why!

Crypto investors favouring altcoins in spite of poor performance

Algorand ALGO/USD is a self-sustaining and decentralized blockchain-based network that supports a wide range of applications. VeChain VET/USD is a blockchain-powered supply chain platform.

Elrond EGLD/USD is a blockchain platform that incentivizes a distributed network of computers to run a smart contract platform that prioritizes scalability and low transaction fees.

Should you buy Algorand (ALGO)?

On October 7, Algorand (ALGO) had a value of $1.86.

To get a better perspective of what kind of value point this is for the token, we will compare it to its all-time high value as well as its performance in September.

The all-time high value of ALGO was at $3.56 on January 20, 2019. This means that its value was $1.7 higher or 91% higher when compared to October 7.

ALGO had its lowest value of the month on September 1, with a value of $1.09.

Its highest point was on September 13, with a value of $2.43. The token saw an increase of $1.34 or by 122%.

With this in mind, we can expect ALGO to reach $2.32 by the end of October.

Should you buy VeChain (VET)?

On October 7, VeChain (VET) had a value of $0.116.

To broaden our perspective as to exactly what this value point is for the token, we will be going over its performance in September as well as its all-time high value.

VET’s all-time high value occurred on April 19 where the token achieved a value of $0.280. At its all-time high, VET was $0.164 higher in value than on October 7, which is 141% higher.

VET had its highest point of September on September 6 with a value of $0.155.

On the other end of the spectrum, on September 29, its value dropped to its lowest point of $0.081.

Here we can see that the token decreased in value by $0.074 or by 47%.

That being said, from September 29 to October 7, the token increased by $0.035 or by 43%.

The VET token can potentially reach $0.150 by the end of October. 

Should you buy Elrond (EGLD)?

On October 7, Elrond (EGLD) had a value of $238.79.

With the goal of evaluating what kind of value this is for the token and its potential for growth, we will compare it to September’s performance as well as its all-time high value.

On September 8, EGLD had its lowest point of value of the month at $143.68.

EGLD’s all-time high value was at $300.56 and was achieved on September 14.

When we compare the value on September 14 with its value on October 7, we can see that the token was $61.77 higher in value or saw a 25% higher point of value.

However, from September 8 to September 14, we can also see that the token grew by $156.88 or by 109%.

This being the case, by the end of October, EGLD has the potential to reach $274.60.

The post I’m buying Algorand, VeChain, and Elrond on October 7, and this is why! appeared first on Invezz.



from Market Analysis – Invezz

Read also

Ledger Nano X - The secure hardware wallet