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3 cryptocurrencies to avoid trading in October

Previous bull markets in crypto showed how fortunes can be made and lost in the blink of an eye. 

As we witness recent declines in both speculative and less-speculative tokens, it’s essential for investors to tread carefully.

In this article, we’ll explore three ultra-risky cryptocurrencies that should raise red flags for potential investors in the month of October. 

WEMIX (WEMIX)

WEMIX, the native token of the WEMIX mega-ecosystem, has been on a rollercoaster ride over the past year or so.

While this cryptocurrency saw some significant gains in recent weeks, we believe the risks outweigh the benefits. This is primarily because of the massive volatility of the WEMIX digital utility token. 

Notably, WEMIX’s 30-day volatility sits at 27.67%, which is described by CoinCodex as ‘extremely high.”

In addition, the cryptocurrency’s price remains down more than 45% in the past year and was outperformed by 75% of the top crypto assets during that period. The token is also substantially down from its all-time high (-96%) and displays a substantial yearly inflation rate of more than 158%.  

At press time on October 6, WEMIX was trading at $1.01, up 0.26% on the day, 5.6% across the week, and over 72% on the month.

Worldcoin (WLD) 

The Worldcoin project made headlines earlier this year as the first-ever artificial intelligence (AI) crypto project that determines “personhood” by scanning users’ eyeballs, helping to prove that someone is a person and not a robot. 

Those who accepted to get their eyes scanned during the beta phase got free WLD tokens. At first, the digital asset attracted some interest among crypto enthusiasts, especially after getting listed on major exchanges like Binance, Huobi, and OKX, among others. 

However, many are still skeptical about the entire project, mainly due to Worldcoin’s approach to biometrics, its unavailability in the US, and the lack of details about WLD’s token distribution. 

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