As we head into October 2024, crypto whales are making significant moves and positioning themselves on signals they believe will yield the greatest returns.
Whales, individuals or entities that hold large amounts of cryptocurrency, often significantly influence market movements, and their top picks for the month are catching the attention of retail investors.
With tokens like Bitcoin (BTC) and Solana (SOL) leading the way, insiders are confident that these assets will shine in the coming weeks. Additionally, a rising DeFi star, FXGuys ($FXG), is also catching the attention of savvy investors.
Bitcoin (BTC): The Undisputed Market Leader
No conversation about the best cryptocurrency picks can ignore Bitcoin. As the first and largest cryptocurrency by market cap, Bitcoin continues to dominate the market. In October 2024, crypto whales are doubling down on BTC as they prepare for a potential bullish move.
This expected influx of capital is one of the main reasons why whales are positioning early and experiencing massive upside detections if ETFs receive regulatory approval.
Furthermore, Bitcoin’s historical performance in the fourth quarter has been generally positive, and many insiders believe this trend will continue. Bitcoin is currently hovering around $62,000, but some analysts are setting bullish price targets of $70,000 to $80,000 by the end of the year, especially if major market catalysts like ETF approval materialize.
FXGuys: The DeFi token gets the whales’ attention
While Bitcoin and Solana remain dominant picks, whales are also seeing new opportunities in decentralized finance (DeFi), with FXGuys ($FXG) emerging as a standout. FXGuys is a DeFi token that combines traditional finance (TradFi) with decentralized finance, providing a platform where users can trade forex on the blockchain.
What’s catching the whales’ attention is FXGuys’ Trade2Earn model, which rewards traders with $FXG tokens for every trade they make.
The incentive-based system drives activity on the platform and creates a continuous flow of value for users. In addition, FXGuys offers a fixed funding program that gives traders access to capital and leverage, increasing their earning potential.
Currently, FXGuys is in phase 1 of its pre-sale, priced at $0.03 per token. With the public launch expected at $0.10, early investors could see a return on their investment of over 300%.
Whales are betting that FXGuys will become a major player in the DeFi space, especially as more and more users seek decentralized and secure trading platforms in the wake of growing concerns about centralized exchanges.
Solana (SOL): Bet on Scalability and Innovation
Known for its fast, low-cost transactions, Solana (SOL) is another top pick for crypto whales in October.
Thanks to its innovative proof-of-history (PoH) consensus mechanism, which enables faster transaction processing, Solana has positioned itself as a serious competitor to Ethereum in the decentralized applications (dApp) and non-fungible token (NFT) space.
Although Solana faced challenges last year due to network outages and centralization concerns, the company has since made significant improvements that have increased whale confidence. SOL’s ecosystem continues to grow, attracting developers and users to its platform due to its scalability and low transaction fees.
Hvaler is particularly positive about Solana’s upcoming developments, including new partnerships and the expansion of its NFT market.
Demand for SOL is expected to increase as more projects build on the Solana blockchain. Currently trading around $142, insiders believe SOL could reach $160 to $170 in the coming months, making it an attractive choice for whales looking for solid returns in October.
Conclusion: Whales Through October and Beyond
As October 2024 unfolds, crypto whales are positioning themselves in assets they believe will deliver significant returns. With its upcoming ETF potential and historically solid performance, Bitcoin remains a top choice for whales looking for reliable long-term growth.
With its innovative technology and growing ecosystem, Solana offers a solid choice for those looking for a mix of scalability and the latest blockchain solutions.
Meanwhile, FXGuys is quickly gaining attention as a DeFi token with unique features that attract both traditional and crypto traders. With its Trade2Earn model and peer-to-peer finance
