As 2024, the year marked by exciting movements in the cryptocurrency sector, slowly moves towards its final quarter, crypto traders and investors are increasingly looking at its potential assets that could deliver a relatively substantial profit.
Indeed, there are a few crypto assets that could be just the thing they are looking for, possibly increasing their price 10-fold in the fourth quarter of 2024 and allowing their holders to turn a $100 investment into $1,000, provided that all the related factors continue to line up positively.
#1 Compound Finance (COMP)
Specifically, one of these assets is Compound Finance (COMP), the token of decentralized finance (DeFi) lending protocol with a market capitalization of $400 million and a total value locked (TVL) of $2 billion, and which crypto market expert Michaël van de Poppe believes is promising.
Compound Finance TVL and market cap analysis: Michaël van de Poppe
At press time, COMP was changing hands at the price of $50.40, which indicates a 2.28% drop in the last 24 hours, an increase of 16.36% across the previous seven days, and a slight decline of 1.57% over the past month, as per chart data on August 26.
Compound Finance price 7-day chart. Source: Finbold
#2 Flow (FLOW)
Furthermore, Flow (FLOW), the native token of a decentralized blockchain designed for high-speed transactions and develop friendly environment, is looking at the network’s upcoming Crescendo upgrade in September as a potential trigger for its price increase.
For now, Flow is trading at the price of $0.59715, recording a very modest 1.27% decline on the day, having advanced 13.17% over the week but accumulating a loss of 11.02% on its monthly chart, according to the most recent information retrieved by Finbold.
Flow price 7-day chart. Source: Finbold
#3 MultiversX (EGLD)
Finally, MultiversX (EGLD) is expecting a ‘bullish outlook’ on its price chart, according to pseudonymous crypto analyst Lluciano_BTC, a.k.a. Lucky, who had earlier observed its massive 24-hour surge and a falling wedge pattern illustrating a declining bearish momentum.
MultiversX price performance analysis. Source: Lucky
Meanwhile, the price of EGLD at the time of publication stood at $31.84, which suggests a 2.50% increase on its daily chart, adding up to the advance of 20.25% across the week, as it reduces its monthly losses to 5.74%, according to the data on August 26.
EGLD price 7-day chart. Source: Finbold
Conclusion
All things considered, the above cryptocurrencies might be a good opportunity to turn an investment of a mere $100 into $1,000, provided that the sentiment around them remains positive and other aspects continue to be in their favor. However, doing one’s research is critical as trends can change.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
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