#altcoin You Should Watch in August 2024:
The crypto market exhibited mixed signals in the month of July: many altcoins noted exceptional growth while other suffered.
Thus, going into August, it is important to be mindful of what to add to your portfolio. To simplify this, we assembled a list of five tokens you should keep an eye on.
Solana became an institutional favorite during the month of July as it became the altcoin with the highest inflows after #ETH_ETFs_Approval_Predictions Ethereum. Racking up $27.6 million as of July 26, SOL outperformed Litecoin, #Xrp🔥🔥 , and Chainlink.
This could help SOL successfully achieve the 31% rally target presented by the bullish double-bottom pattern. Solana’s price could, as a result, hit the price of $245.
Flow $FLOW
Flow is set to witness the arrival of the Crescendo Network Upgrade, which will be launched on the Testnet on August 14. The deployment’s biggest focus is enhancing the network’s scalability and decentralization.
This is expected to push the demand and bullishness surrounding the FLOW price, which is currently trading at $0.65. Breaching the resistances at $0.81 and $0.96 could push the altcoin beyond $1.00.
Conflux is about to undergo a major hard fork, which is aimed at improving the network’s performance, security, and overall functionality. The hard fork, scheduled for August 6, will bring multiple changes to the network, including a potential increase in the Proof of Stake (PoS) lock/unlock/retire periods.
The CFX price could see some volatility around this time, potentially for the good. This could help the altcoin break the consolidation of $0.17 and $0.14 and aid Conflux in recovering the early June losses.