As the market enters a critical period in October, staying ahead could mean following some of the best crypto traders who give timely calls and have a deep understanding of emerging trends.

Whether you are looking for technical insights, smart portfolio rebalancing, or changes in market sentiment, these crypto traders can significantly offer an edge. Here are the top five to follow next month

Crypto trader Miles Deutscher ranks number one, especially since the analyst has recently been sharing what the community calls “gems.” On X (formerly Twitter), Deutscher has 541,500 followers and is famous for giving tips on altcoins and meme coins. 

On September 25, for instance, the trader gave a list of altcoins and meme coins that could perform well in Q4 2024. The list includes AI-themed tokens, including Bittensor (TAO), Artificial Superintelligence Alliance (FET), and NEAR Protocol (NEAR).

Other altcoins include Sui (SUI), Fantom (FTM), Pepe (PEPE), and Sundog (SUNDOG). The trader noted that FTM could hit $1 as the Sonic upgrade approaches.

“I’m still in my long from $0.38. It was great to see a break of the ‘must break’ zone I highlighted weeks ago. I think it can continue its run to $1 as we approach Sonic.” The crypto trader wrote on X.

With over $383,000 followers on X, Daan Crypto Trades is another trader to follow in October 2024. The trader, who also operates a YouTube channel, focuses on the price action of Bitcoin (BTC) and altcoins. Recently, he shared on his X account that BTC’s performance was healthy and that the coin could go higher. 

Four days ago, Daan Crypto Trades also posted on its YouTube page analyzing how prices might perform after the recent Federal Open Market Committee (FOMC) which led to a Fed Rate Cut.  

In the analysis, the traders opined that the broader market could remain bullish from October 2024 till the end of the year. Thus, if you are looking for one of the best crypto traders to follow, then this is one.

Also known as the Wolf of All Streets, Scott Melker is a crypto investor and trader who has 960,000 followers on X. Melker also has his podcast on YouTube with 151,000 and talks about Bitcoin.

In a podcast posted on September 27, Melker admitted that the bull run might be back. Referring to the surging liquidity, the analyst noted that the Chinese billion-dollar capital could help Bitcoin consistently stay above $65,000.

Read more: 7 Best Crypto Contract Trading Platforms in 2024

However, it is also important to note that Melker also gives insights on Ethereum (ETH) besides BTC. Therefore, if the top two cryptos are your major point of interest, then Melker is one of the best crypto traders to follow in October 2024.

Pseudonymous analyst PlanB is the creator of the Bitcoin stock-to-flow model and one of the best crypto traders. Unlike the others, the trader focuses solely on BTC and regularly gives tips and insights on the coin’s potential to the 1.9 million people following the X account. 

Like previous times, PlanB has again said BTC’s long-term target could run into millions of dollars. For the 2024 to 2028 cycle, the trader mentioned that the coin could jump toward $500,000.

“As you know my Bitcoin prediction is ~500k average for 2024-2028 halving period, with 250k-1m stdev band. 2020-2024 prediction (made in 2019 when BTC<4k) was ~50k average, with 25k-100k band. 2020-2024 average was 34k. I know some keep crying ‘But 100k’ … IMO 34k was spot on,” PlanB emphasized.

However, it is important to note that most of the tips this account gives are for the long term. Hence, if your focus is on the short term, you might need to follow other crypto traders.

To end this list is Ansem, one of the best crypto traders who is making good calls for meme coins. On X, Ansem has 495,000 followers and sometimes gives his take on BTC as well. 

Famous for doubling down on Dogwifhat (WIF), Ansem recently released a list of meme coins that could bring good gains from October until next year. He also gave his take on Solana, saying the token could hit higher highs from the current price.

Read more: Top 9 Safest Crypto Exchanges in 2024

In conclusion, it is necessary to remember that some of these traders may not give accurate insights at all times. However, on several occasions, they have been right about some things. Still, it is up to you to do extra research before making informed decisions provided by these crypto traders.

Bitcoin (BTC) dominated the headlines for most of 2024 as its price outperformed most of the top altcoins. However, with October approaching, things have started to change, and the number one cryptocurrency is starting to play second fiddle.

This shift is why investors are eyeing a potential breakout for non-BTC cryptos as speculation of an altcoin season intensifies. Here are the three altcoins that could stand out from the crowd in October 2024.

Stacks (STX)

Stacks is a Bitcoin layer-2 project that enhances the development of smart contract applications on blockchains. Its native token, STX, has seen its price increase by 20% in the last seven days and is one of the altcoins that could outperform Bitcoin next month.

STX is on this list because, finally, the anticipated Nakamoto upgrade will take place on October 9. The event, which is expected to be bullish, was named after Bitcoin’s pseudonymous creator, Nakamoto Satoshi.

When implemented, the upgrade would improve decentralized finance (DeFi) on the Bitcoin network. Stacks might also introduce a Bitcoin-pegged token, sBTC, along with the mainnet upgrade.

Currently, STX’s price is $1.964. On the daily chart, the altcoin’s price dropped to $1.05 during the August 5 crash. However, the formation of an inverse head and shoulders pattern appears to have changed things for the token.

The inverse head-and-shoulders pattern is a bearish-to-bullish reversal in which buyers capitalize on sellers’ fatigue. Eventually, this leads to an upward price movement.

As of this writing, STX faces resistance at $2. However, the support at $1.73 reveals that it might not take long for the altcoin to rebound. 

Read More: 10 Alternative Crypto Exchanges After Bybit Exits France

Once that happens, Stacks’ price might increase by another 20% and hit $2.38 in October 2024. On the flip side, the prediction might not come to pass if STX bulls fail to breach the $2 resistance. If that is the case, the altcoin’s value might decline below $1.73. 

THORChain (RUNE)

RUNE, the native cryptocurrency of decentralized liquidity THORChain, is one of the altcoins predicted to outperform Bitcoin in October. One reason is the rise in RUNE’s volume, which has been crucial to its 30-day price increase.

While RUNE’s price is $5.34, it appears to have encountered a roadblock at $5.40. As a result, the altcoin could face a brief pullback similar to what happened in May. Furthermore, the token could replicate a rerun of the performance that saw the price bounce and climb to $7.28.

This time, the cryptocurrency might perform better as the image above shows a possible 40% price increase to $7.54 in October 2024. On the contrary,  RUNE’s price could decline to $4.50 and invalidate this thesis if buying pressure falters.

Fantom (FTM)

The major rationale for Fantom’s inclusion is the excitement about the Sonic upgrade. The upgrade is expected to improve translation speed and storage efficiency on the blockchain. Beyond that, the token, which has been one of the best-performing altcoins in recent times, could also see a migration to the ticker “S.”

According to the daily chart, FTM’s price is $0.67, with the Exponential Moving Average (EMA) flashing bullish signals. As shown below, the 20 EMA (blue) has crossed over the 50 EMA (yellow). In addition, for the first time in a long while, the 20 EMA has risen above the 200 EMA (purple), indicating that a consistent rally is in the works.

Read More: 11 Cryptos To Add To Your Portfolio Before Altcoin Season

Therefore, Fantom’s price could likely jump by 36.70%, reaching $0.92. Contrarily, the price might struggle to hit the point that if the sentiment around the token turns bearish, FTM could remain range-bound at around $0.65.

This week’s roundup highlights regulatory tightening and innovations in the crypto sector across Asia and MENA. Dubai’s regulator implements new crypto marketing rules, which will be effective as of October 1, 2024. Meanwhile, in South Korea, Worldcoin was fined $830,000 for breaching data privacy laws, particularly by collecting sensitive biometric data.

With regulatory authorities stepping up oversight across the region, the crypto industry is experiencing a period of transformation that is reshaping its future.

As of October 1, 2024, companies promoting virtual assets in Dubai must comply with new marketing regulations introduced by the Virtual Asset Regulatory Authority (VARA). Under these guidelines, crypto advertisements must include a prominent disclaimer highlighting the risks of crypto investments. The disclaimer must clearly state that virtual assets can lose value in full or in part and are subject to significant volatility.

In addition to the new disclaimer requirements, VARA has introduced penalties for non-compliance. Firms violating these marketing guidelines could face fines of up to AED 10 million (approximately $2.7 million).

Read more: How Does Regulation Impact Crypto Marketing? A Complete Guide

The size of the fine will depend on the severity of the infraction. If the company repeatedly violates the regulations, it may also face increased fines.

Additionally, virtual asset service providers (VASPs) offering incentives related to virtual assets must now obtain compliance approval from VARA. This ensures that promotional materials do not obscure the risks investors may face when entering the highly volatile crypto market.

This regulatory update is part of Dubai’s ongoing efforts to balance crypto innovation with consumer protection. With the region positioning itself as a global hub for blockchain and digital assets, the new rules aim to safeguard retail and institutional investors from misleading promotional content.

Worldcoin and TFH Hit with $800,000 Fine for Data Breaches in South Korea

South Korea’s Personal Information Protection Commission (PIPC) has fined Worldcoin and its development company, Tools for Humanity (TFH), 1.14 billion Korean won ($830,000). This penalty was for violating the country’s data protection laws.

The fine stems from Worldcoin’s unauthorized collection of sensitive biometric information, including iris scans, from Korean users without proper consent. Moreover, the data was transferred abroad to Germany without notifying users. This action further breaches South Korean data privacy laws.

The PIPC ordered Worldcoin to implement corrective measures, including obtaining explicit user consent for sensitive data collection. The agency also demanded improvements in data storage and use transparency. Furthermore, the firm must introduce an effective data deletion mechanism for users who wish to opt out of the Worldcoin service.

Hong Kong’s Project e-HKD+ Explores Tokenized Assets and Digital Money

Hong Kong’s Monetary Authority (HKMA) recently launched the second phase of its digital currency project, now rebranded as Project e-HKD+. This phase aims to explore more advanced use cases for digital money, including tokenized deposits, as well as broader applications in both retail and corporate settings.

Project e-HKD+ brings together 11 firms that will conduct real-world trials on the settlement of tokenized assets, programmable payments, and offline transactions. These pilot programs are crucial for evaluating the feasibility and benefits of implementing digital currencies within the broader economy.

The outcome of Phase 2 will help shape the future design and regulatory framework for digital currencies in Hong Kong. Authorities will share key learnings with the public by the end of 2025.

Eddie Yue, Chief Executive of the HKMA, emphasized that the initiative is essential for positioning Hong Kong at the forefront of financial technology.

“The e-HKD Pilot Programme has provided a valuable opportunity for the HKMA to explore with the industry how new forms of digital money can add unique value to the general public. The HKMA will continue to adopt a use-case-driven approach in its exploration of digital money. We look forward to working closely with industry participants in Phase 2 to co-create various innovative use cases,” Yue stated.

The authority also plans to establish the e-HKD Industry Forum. This forum will be a collaborative platform where industry leaders can discuss the broader adoption of digital currencies.

Indonesia’s Largest Bank Launches Blockchain-Based Pilot Project

Indonesia’s largest state-owned bank, Bank Rakyat Indonesia (BRI), is launching a blockchain-based pilot project to improve transparency and security in financial transactions. Announced during the Indonesia Blockchain Conference (IBC), the project is designed to streamline supply chains and secure business transactions for BRI’s extensive customer base of 82 million.

Nitia Rahmi, Head of BRI’s Digital Banking Development Department, highlighted that this initiative is part of the bank’s broader commitment to embracing Web3 technologies. Rahmi explained that the project would improve BRI’s digital infrastructure and position the bank as a leader in blockchain adoption within the Indonesian financial sector.

As blockchain technology gains momentum in Southeast Asia, BRI’s move aligns with a growing regional trend of integrating decentralized technologies into traditional banking systems. The bank’s adoption of blockchain is expected to set a precedent for other institutions looking to innovate and improve financial processes.

WazirX Secures Court Moratorium to Restructure After $230 Million Hack

On September 26, Singapore’s High Court granted a four-month moratorium to Zettai Pte Ltd, the parent company of the Indian crypto exchange WazirX. This decision follows the platform’s $230 million exploit in July.

This moratorium allows WazirX to restructure its liabilities and address users’ outstanding cryptocurrency balances. Initially, the exchange requested a six-month moratorium. However, the court decided on a four-month moratorium, factoring in the automatic 30-day moratorium that started with the initial filing.

Nischal Shetty, Director of Zettai and Founder of WazirX, expressed gratitude for the court’s decision. He described it as a critical step toward recovery and resolution. Shetty also emphasized that this breathing space is necessary for developing a fair, creditor-approved restructuring plan that maximizes recovery potential for affected users.

As part of the court’s conditions, WazirX has committed to full transparency. The exchange will make its wallet addresses public, release financial data, and address user concerns raised during the legal proceedings. Additionally, future voting on restructuring plans will be supervised by independent parties to ensure impartiality.

Read more: Crypto Project Security: A Guide to Early Threat Detection

In parallel with these legal proceedings, blockchain data from Arkham Intelligence revealed that the hacker responsible for the exploit has almost entirely laundered the stolen assets. Of the $230 million, only $6 million of cryptocurrencies remains unlaundered. The hacker funneled the majority of the funds through the crypto mixer Tornado Cash.