Bitcoin has made a powerful comeback after a rocky start to October, rebounding from a low near $59,000. As market sentiment shifts positively, investors are turning their attention to altcoins—will they follow Bitcoin’s lead or face headwinds?
Bankless, a respected crypto analysis platform, recently shared forward-looking predictions for 10 major altcoins, evenly split between bullish and bearish outlooks. This article breaks down their insights, evaluates past forecast accuracy, and explores what these trends could mean for the broader market in late 2024 and early 2025.
October Forecast Accuracy: 70% Success Rate
Of the 10 tokens Bankless analyzed with time-bound predictions ending in October, seven moved in the direction they anticipated—achieving a solid 70% win rate. Notable misses included Instadapp (INST), which plunged 43% despite a bullish call, and Maple Finance (MPL), which surged 43.56% against a bearish forecast.
On the other hand, several correct bearish calls stood out:
- Ondo Finance (ONDO): Down 25.28%
- Livepeer (LPT): Down 27%
- ENS (ETH Name Service): Down 36.71%
- Celestia (TIA): Down 1%
- Polkadot (DOT): Down 36.46%
- ether.fi (ETHFI): Down 40%
- Worldcoin (WLD): Down 26.07%
While some reversals were surprising, the overall performance underscores Bankless’s analytical edge in identifying macro trends and token-specific catalysts.
Bullish Altcoin Predictions: Catalysts Driving Growth
dYdX (DYDX) – DeFi Power Play
Prediction Period: Oct 16, 2024 – Jan 16, 2025
Price at Prediction: $0.96
Current Performance: +1.28%
After a prior bearish stance due to declining usage metrics, Bankless has turned bullish on dYdX thanks to a new catalyst: the launch of a leveraged U.S. presidential prediction market.
The “TRUMPWIN-USD” market allows traders to go long or short on election outcomes with up to 20x leverage. While such markets carry risks—like forced deleveraging before settlement—their speculative appeal is undeniable. Platforms like Polymarket have already seen monthly activity double amid surging demand.
Crucially, dYdX staking rewards are tied to perpetual trading volume. If election-related trading drives sustained activity, stakers could see higher yields, creating upward pressure on DYDX’s price.
Jupiter (JUP) – Solana’s Rising Star
Prediction Period: Oct 15, 2024 – Jan 15, 2025
Price at Prediction: $0.88
Current Performance: -3.66%
Jupiter, a full-service exchange on Solana, continues to gain institutional attention. On October 10, Grayscale added JUP to its “Assets Under Consideration” list—a strong signal of potential future product inclusion.
As a DEX aggregator, Jupiter routes trades across liquidity pools for optimal pricing without charging swap fees. Despite this, it handles hundreds of millions in daily volume and holds clear monetization potential through order flow.
With a fully diluted valuation of $9 billion—15% above Uniswap—Jupiter justifies its premium with complementary offerings like high-leverage perps (yielding up to 28%) and a robust token launch platform.
Thala (THL) – Aptos’ DeFi Leader
Prediction Period: Oct 7, 2024 – Jan 7, 2025
Price at Prediction: $0.51
Current Performance: +6.14%
Thala stands as the largest investable app and third-largest protocol by TVL on Aptos. Built using Move—a language unique to Aptos and Sui—Thala offers token swaps, liquid staking, and an over-collateralized stablecoin.
Despite Aptos’ underperformance in 2024, ecosystem health has improved since mid-September. Thala benefits from first-mover advantage and isn’t threatened by EVM-based competitors like Uniswap. Its Move-native design also opens doors for expansion to other Move-based chains like Movement.
👉 Stay ahead of emerging DeFi ecosystems with live analytics and market tracking tools.
Aptos (APT) – L1 With Momentum
Prediction Period: Oct 4, 2024 – Jan 4, 2025
Price at Prediction: $9.13
Current Performance: +9.97%
APT bottomed out in August but has since doubled. Though its use cases remain underdeveloped and its valuation exceeds Ethereum’s on key metrics, chain activity tells a positive story.
Daily active addresses are rising steadily, and TVL hit an all-time high. With a theoretical throughput of 160,000 TPS—one of the fastest in crypto—Aptos is well-positioned for high-performance applications in emerging sectors like DePIN.
Axelar (AXL) – Interoperability Breakthrough
Prediction Period: Oct 3, 2024 – Jan 3, 2025
Price at Prediction: $0.65
Current Performance: +23.15%
Axelar launched its Mobius Development Stack (MDS) on October 3—a new cross-chain standard powered by AXL. MDS enables seamless interchain communication across Flow, Hedera, Solana, Sui, and more via the Interchain Amplifier.
Developers can now build bridges between chains without deep protocol changes. AXL retains utility as staking collateral, but the system also supports re-staking with ETH or BTC for enhanced security.
Bankless believes AXL is poised to benefit from the recent resurgence in L1 performance, potentially accelerating cross-chain exploration and adoption.
Bearish Outlooks: Challenges Ahead
Uniswap (UNI) – Fragmentation Risk
Prediction Period: Oct 10, 2024 – Jan 10, 2025
Price at Prediction: $8.35
Current Performance: -9.1%
Uniswap launched Unichain, a rollup on OP Stack aiming to become the liquidity hub for Ethereum’s multi-chain future. It promises faster confirmations (200–250ms) and plans to use UNI as gas.
However, swaps still require bridging—adding friction and delay. For profit-sensitive traders, this could mean worse execution compared to native chains. Bankless worries this may worsen liquidity fragmentation rather than solve it.
Wormhole (W) – Declining Volume & Fading Hype
Prediction Period: Oct 2, 2024 – Jan 2, 2025
Price at Prediction: $0.36
Current Performance: -17.48%
Wormhole’s transaction volume dropped 36% from August to September (from $255M). Despite a partnership with Securitize (used by BlackRock’s BUIDL fund) and a listing on Upbit that briefly spiked price by 30%, momentum reversed quickly.
Bankless remains skeptical about the effectiveness of future airdrops and whether high-profile announcements can reverse declining usage trends.
EigenLayer (EIGEN) – Overvaluation Concerns
Prediction Period: Oct 1, 2024 – Jan 1, 2025
Price at Prediction: $4.00
Current Performance: -16%
With a $67 billion fully diluted valuation versus $740 million market cap at analysis time, EigenLayer appears stretched. While restaking is hailed as the future of crypto security, actual returns from AVSs (Active Validation Services) may disappoint.
Even top-tier AVSs might deliver only single-digit yields—insufficient to justify inflationary token emissions. Without immediate integrations or sustainable revenue models, investor appetite may wane.
ether.fi (ETHFI) – Supply Pressure Looms
Prediction Period: Sep 30, 2024 – Dec 30, 2024
Price at Prediction: $1.82
Current Performance: -8.24%
Despite growing deposits through novel restaking products and airdrop incentives, ETHFI trades at a higher fully diluted valuation than Lido (LDO). A major unlock event is set for March 17, 2025—likely triggering selling pressure.
Bankless warns that even successful retention strategies won’t shield ETHFI from market resistance if supply outpaces demand.
Solana (SOL) – Ecosystem Stagnation
Prediction Period: Sep 26, 2024 – Dec 26, 2024
Price at Prediction: $156.15
Current Performance: -1.84%
Since March’s market peak, Solana’s TVL has flatlined and fee revenue declined. While SOL outperformed meme coins like BONK and WIF recently, this reflects capital rotation into safer assets—not ecosystem strength.
Bankless argues that Solana’s golden era may be behind it, with newer L1s offering fresher narratives and better growth potential.
👉 Track upcoming token unlocks and market-moving events in real time—get actionable insights today.
Frequently Asked Questions
Q: How accurate are Bankless token predictions historically?
A: Their October forecasts achieved a 70% accuracy rate among time-bound calls—indicating strong analytical rigor despite some high-profile misses.
Q: Why is dYdX’s election market significant?
A: Leveraged prediction markets attract speculative capital. Increased trading volume directly boosts staking rewards for DYDX holders.
Q: Is Jupiter overvalued compared to Uniswap?
A: Jupiter’s FTV is higher, but its suite of products—including perps and launchpad services—justifies part of the premium based on ecosystem utility.
Q: What risks does ETHFI face in early 2025?
A: A major token unlock scheduled for March 17 could flood the market with supply, especially if demand doesn’t keep pace with inflationary emissions.
Q: Can Axelar sustain its momentum?
A: Yes—if developer adoption of MDS grows and cross-chain activity increases across supported chains like Solana and Sui.
Q: Why is Solana underperforming despite strong branding?
A: Stagnant TVL and declining fees suggest reduced on-chain activity. Without new ecosystem breakthroughs, investor interest may shift to more dynamic L1s.
Core Keywords: Bitcoin rebound, altcoin analysis, Bankless predictions, DeFi tokens, L1 blockchains, crypto market trends, token price outlook