Five Altcoins with Key Catalysts in October
Wall Street is gearing up to deploy more tokenized assets this month, and two altcoins are poised to benefit. An analyst has identified five altcoins with significant catalysts in October, cautioning that positive news does not always translate to higher prices.
Chainlink (LINK) stands out with its upgraded cross-chain protocol, CCIP 2.0, which launched last week. The protocol now includes enhanced verification and compliance controls, along with Fulcrum, a tool for institutional collateral management across blockchains. Chainlink also demonstrated cross-chain institutional financing with the DTCC at the Sibos conference. The analyst ranks LINK fifth, noting that while these developments are promising, real usage and demand for the token are still pending.
Ethereum (ETH) is preparing for the Glamsterdam upgrade, set to reach the Sepolia test network on October 6. This upgrade aims to improve block production and validation, allowing more parallel processing. The analyst warns that while the upgrade is significant, it won’t immediately deliver a tenfold speed increase. A successful test would boost confidence in Ethereum’s roadmap, while delays could prompt reassessment.
Zcash (ZEC) is targeting an upgrade to its testnet on October 6, with a final decision on mainnet activation planned for October 20. The NU7 upgrade aims to reduce block times from 75 seconds to about 25 seconds, with adjustments to block rewards to prevent supply tripling. The analyst views this as progress but notes it won’t necessarily drive adoption.
Hyperliquid (HYPE) is sharing about 90% of its reserve yield on USDC supply with the protocol, funding buybacks of HYPE tokens. The first payment was made on October 3, and a contributor token unlock is scheduled for October 6. The analyst remains cautious, noting that unlocked tokens may not be automatically sold, and buyback funds may not absorb all selling pressure. If HYPE holds steady through the unlock, it could signal a stronger setup.
Canton (CC) is preparing for the DTCC’s tokenization service launch in late October. The DTCC has already converted assets into tokens for real trades involving Canton, covering collateral, securities lending, Treasuries, and equities. The London Stock Exchange Group recently became a super validator on Canton. Fees on the network are paid by burning CC tokens, tying usage to the token’s supply. The analyst highlights three risks: no confirmed launch date, the DTCC’s work with multiple chains, and CC’s price drop ahead of an earlier soft launch.