5 Best Altcoins To Watch Today August 31 – Aave, ORDI, FLOKI, Optimism

According to Brian Armstrong, the CEO of Coinbase, a leading digital asset trading platform, the convergence of the crypto world and artificial intelligence opens up vast possibilities. Meanwhile, the major crypto exchange Bitget is preparing to list Hamster Kombat’s native token, HMSTR, on its platform. This move aims to broaden the reach of this popular crypto project to a global audience.

In addition, Ripple Labs, a FinTech company known for its blockchain and cryptocurrency solutions for cross-border payments, has emphasized how local banks can turn global payment challenges into growth opportunities for small and medium-sized enterprises (SMEs). Due to these recent happenings, investors have remained positive. For smart investors seeking to capitalize on this positive outlook, this list covers the 5 best altcoins to watch today.

5 Best Altcoins To Watch Today 

Aave Labs is moving forward with plans to integrate BlackRock’s tokenized fund, BUIDL, into its GHO Stability Module (GSM). Meanwhile, The Meme Games project significantly impacts the cryptocurrency landscape by merging a meme coin concept with the excitement of the 2024 Paris Olympics. In addition, over the past year, ORDI’s price has surged by 638%, outperforming 95% of the top 100 crypto assets. In contrast, Ether is heading towards a loss of over 20% in August, and Bitcoin is experiencing its fourth weekly loss in five weeks.

1. Aave (AAVE)

Aave Labs has taken steps to integrate BlackRock’s tokenized fund, BUIDL, into its GHO Stability Module (GSM). This strategic move aims to enhance the stability and efficiency of Aave’s native stablecoin, GHO. It will leverage traditional financial assets like cash and US Treasury bills. 

Following this news, Aave (AAVE) has recently seen a notable increase, standing out as other cryptocurrencies face challenges. The currency remains bullish, maintaining levels well above key support thresholds. This strength follows a correction period, indicating potential for further gains. Meanwhile, Aave’s price surge has made it a top performer in the cryptocurrency market. Particularly, this contrasts with the declines observed in other digital assets.

AAVE Price Chart

Over the past 24 hours, Aave has shown strong performance, with its price trending upward. Bulls have kept the price consistently above the $100 mark. During the European trading session, AAVE reached $132.27, reflecting an approximate 8% surge. 

Aave’s price appears to be entering a bullish phase. The uptrend indicates it may soon breach the $150 resistance level. If this momentum continues, the cost could reach $160, potentially hitting $200, marking a gain of over 98% by the end of September.

2. ORDI (ORDI)

Last year, ORDI became the first BRC-20 token to surpass a $1 billion market capitalization. This feat drew significant attention from DeFi enthusiasts for its innovative role. 

ORDI trades at $27.79 as of price, reflecting a 1% intraday rise. The cryptocurrency holds a market capitalization of $544 million and a trading volume of $92 million, which has decreased by 26.69%.

Over the past year, ORDI’s price has increased by 638%, outperforming 95% of the top 100 crypto assets. Moreover, it trades 105.30% above its 200-day SMA, which is $13.55. 

ORDI Price Chart

Despite its first-mover advantage on the Ordinals protocol and a price correlation with Bitcoin, ORDI is trading at its lowest point this year. The overall crypto market capitalization has also briefly dipped below $2 trillion. This decline in ORDI’s value may be attributed to general market sentiment.

However, with ORDI trading at its annual low, it is poised for a potential reversal. According to expert prediction, it will recover in the coming months. This Analysis suggests that ORDI could gain value in the years to come, reflecting broader market trends and its unique position within the Ordinals protocol.

3. The Meme Games (MGMES)

The Meme Games project is creating a notable impact in the cryptocurrency landscape by blending a meme coin concept with the anticipation of the 2024 Paris Olympics. Despite the conclusion of the Mondial event, the MGMES project continues to draw interest due to its Olympic-themed idea.

MGMES

The presale phase of The Meme Games reflects the current enthusiasm surrounding the project, having raised over $400,000 toward a target of $ $1,132,214. This early momentum indicates potential growth for MGMES tokens. The current price of $0.0094 is set to increase in 5 days, presenting an opportunity for investors to buy in. Participation in the presale is accessible through the project’s website, using either an Ethereum or BNB Chain wallet. The total token supply is capped at 2.024 billion, with 38% allocated for the presale, offering early investors a significant portion.

A distinguishing feature of The Meme Games is its focus on fairness and unpredictability. Each character in the game has an equal chance of winning, adding excitement for participants. Additionally, investors receive a 25% bonus on their MGMES tokens if their chosen meme athlete wins. They can enhance their chances by purchasing tokens multiple times and supporting different characters.

The project also includes a staking option, promising an annual return of 475%, although this rate may vary based on participation. Staking offers a way to grow holdings before MGMES is listed on exchanges on September 10. With the presale ending on September 8, coinciding with the Paralympics closing ceremony, this period offers a chance to invest before the token potentially rises in value upon listing.

Visit The Meme Games Presale

4. FLOKI (FLOKI)

The Floki (FLOKI) price plunged over 11% on Thursday, dropping from around $0.00016 to below $0.00014. However, this decline does not necessarily spell disaster for FLOKI. Chart Analysis indicates the possibility of another surge.

FLOKI Price Chart

Recently, FLOKI broke through a downtrend that had been ongoing since July. A favorable double bottom formed earlier in August, suggesting a potential bullish reversal. Although FLOKI lost its 50-day Moving Average on Thursday, regaining this level is crucial for the Ethereum-based meme coin to revisit its July highs.

While it is unlikely that FLOKI will achieve a 30-40x increase, its expanding GameFi and DeFi ecosystem supports its potential as a market leader. The Floki Inu price is currently 370.27% above its 200-day Simple Moving Average of $0.00002696, and it has high liquidity relative to its market cap. According to current predictions, Floki Inu’s price is expected to rise by 226.22%, reaching $0.000418 by September 30, 2024.

5. Optimism (OP)

The current price of Optimism (OP) is $1.447025, reflecting a 0.94% increase over the past 24 hours. The recent price action suggests a potential uptrend, supported by a channel breakout retest rally gaining strength. Optimism displays a solid bullish stance as the broader market stabilizes near the weekend. Thus, it raises the question: will the OP price reach the $2 mark with continued bullish momentum?

OP Price Chart

The OP price has experienced a retest phase, with a falling wedge breakout rally on the daily chart failing to surpass the 50-day EMA. Following a three-day decline of 15%, a retest of the broken resistance trendline formed a three-black crow pattern after an evening star pattern. However, over the past four days, there has been a 4% increase, indicating renewed bullish activity. Four consecutive green candles mark this gradual shift in underlying sentiment.

The momentum from the channel breakout and post-retest rallies provide potential entry points for investors at lower prices. Moreover, a breakout above the 50-day EMA would signal a buying opportunity for traders. According to Fibonacci levels, sustaining the uptrend above the broken trendline could target 23.60% and 38.20% at $2 and $2.52, respectively.

Learn More

  • Top Cheap Cryptocurrencies 
  • Our Previous Best Altcoins To Watch Today Post 

Comments

Post a Comment

Popular posts from this blog

Inquiry on Binance headquarters and audit left unanswered by new CEO Richard Teng

The new CEO of the Binance exchange, Richard Teng, dodged answering a question about the location of the company’s headquarters and its audit or. His statement was made as part of the Crypto and Digital Assets Summit organized by the Financial Times. During his speech, the new CEO of the exchange once again emphasized Binance’s “shortcomings” with respect to the company’s regulatory requirements. At the same time, Teng avoided questions related to the organization’s activities and structure. You might also like: Richard Teng takes the helm at Binance promising a shift away from outlawed behaviour When about Binance’s global headquarters , and whether the company will be audit ed, or if it plans to apply for a license in the UK, Binance’s new CEO said that he had already answered each of the questions asked “previously.” When asked again about the headquarters , Teng again brushed it off, emphasizing that it was “under consideration.” “...
Read more

Polygon 2.0 Aims to Become the Value Layer of Internet

Image
Thus, Polygon 2.0 will serve as a fundamental layer to create, exchange, as well as program value. The team claims that Polygon 2.0 will help democratize the global economy just as the internet helped in democratizing information access. Polygon 2.0 brings decentralized finance, digital ownership, and innovative coordination methods to the forefront. It fills the gap in creating an Internet that prioritizes users rather than gatekeepers, rent-seekers, or intermediaries. The new and upgraded Polygon version will serve as the blueprint for building the Value Layer. It Features a set of proposed upgrades bringing a major shift in the protocol’s architecture, tokenomics, and governance. The team shall reveal more details regarding Polygon 2.0 in the coming weeks. They will detail the future of the Polygon PoS chain, as well as the utility and the evolution of the MATIC token. Recommended Articles ...
Read more

Australian regulator ASIC to ramp up focus on digital scam

ASIC, Australia’s financial watchdog, has announced a new four-year plan prioritizing consumer protection against digital scams, including cryptocurrency-related frauds. ASIC, the Australian Securities and Investments Commission, has unveiled a new four-year strategy aimed at shielding consumers and businesses from digital scams, including those involving cryptocurrencies. Chair Joe Longo indicated that while ASIC has made strides since outlining its priorities last year, there’s ongoing work. The regulator is adapting to shifts in sustainable finance, the digital economy, and the challenges an aging population poses. You might also like: ASIC releases the top 10 ways to spot a crypto scam Longo also mentioned that ASIC closely monitors how emerging technologies like AI could impact businesses and consumers. Australia has been generally favorable toward digital currencies. The country has both embraced and regulated cryptocurrencies, most notably by exempt...
Read more