BTG Pactual, Brazil’s foremost investment bank, has identified five cryptocurrencies poised for possible gains this October: bitcoin (BTC), ether (ETH), solana (SOL), avalanche (AVAX), and sky (SKY).
This selection is detailed in a report by Matheus Parizotto and João Galhardo, reflecting growing optimism in the crypto sector as U.S. interest rates begin to soften and excitement mounts over upcoming crypto ETFs.
Bitcoin continues to be the leading choice among institutions, with over $3.5 billion channeled into spot ETFs in September and corporate treasuries amassing 43,000 BTC—equating to over $5 billion at current valuations.
Mynt’s report characterizes BTC as a foundational asset. “For those prioritizing a long-term component in their investment strategy, BTC presents liquidity, robust network security, and a history of adoption that transcends retail investors,” it states.
Ether remains a frontrunner in decentralized finance. The team at BTG Pactual noted that the Ethereum network is home to a substantial portion of stablecoin transactions and initiatives focused on tokenizing real-world assets.
In the past six months, U.S. spot ETFs have seen an influx of $11.3 billion in ETH, while corporate treasuries acquired 816,000 ETH in just September. Analysts interpret these significant flows as indicative of strong institutional interest.
For Solana, the argument favors its impressive transaction speed and low costs. BTG Pactual emphasized that the network has recorded over $100 billion in DEX volume for three consecutive months, and its total value locked has crossed $30 billion, indicating enhanced liquidity in the DeFi space.
Analysts noted that institutional demand appears to be rising, particularly with the potential launch of new spot SOL ETFs which might attract more investment and foster visibility.
“For those interested in high-performance infrastructure with growing real-world applications, Solana merges scalability, affordability, and an expanding network effect,” the report asserts.
Regarding AVAX, BTG Pactual recognized a significant uptick in on-chain transactions, citing a 46% rise in daily transactions and a staggering 421% increase in stablecoin transfers over the previous quarter.
The network’s subnet framework empowers companies to create tailored blockchains, further advancing practical applications, according to the report.
Sky Protocol, previously known as MakerDAO, completes this selection. Its stablecoin, USDS, boasts a circulating supply nearing $8 billion, while its Sky Savings Rate currently offers a variable return of 4.75%.
In addition, with a token buyback initiative that has already allocated $77 million, the report positions SKY as a promising DeFi token with potential for long-term revenue generation.
