Five Altcoins with Major Catalysts in October
October is shaping up to be a pivotal month for several altcoins as Wall Street prepares to deploy more tokenized assets. An analyst has highlighted five altcoins with significant catalysts, cautioning that positive developments do not always translate to higher prices.
Chainlink (LINK) stands at fifth place due to its upgraded cross-chain protocol, CCIP 2.0, which launched last week. The protocol now includes enhanced verification and compliance controls. Additionally, Chainlink introduced Fulcrum, a tool for institutional collateral management across blockchains. The analyst emphasized the need for real institutional adoption to drive demand for LINK.
Ethereum (ETH) is preparing for its 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. However, the analyst noted that the upgrade will not immediately boost speed tenfold and warned that any delays could impact confidence in Ethereum's roadmap.
Zcash (ZEC) is gearing up for its NU7 upgrade, which hits the testnet on October 6. The team plans to finalize mainnet activation by October 20, targeting a November 5 launch. The upgrade will 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 not a guarantee of adoption growth.
Hyperliquid (HYPE) is benefiting from a new buyback mechanism, with 90% of the reserve yield from its USDC supply now funding the assistance fund, which buys back HYPE. The first payment went live on October 3. However, a contributor token unlock is scheduled for October 6, which the analyst cautions could introduce selling pressure that the buybacks may not fully absorb.
Canton (CC) is at the top of the list due to the upcoming launch of the DTCC's tokenization service in late October. The DTCC has already converted assets into tokens used in real trades, with the London Stock Exchange Group becoming a super validator. Fees on the network are paid by burning CC tokens, linking usage to the token's supply. The analyst identified three risks: no confirmed launch date, the DTCC's work with multiple chains, and CC's price drop ahead of the earlier soft launch.