Top 5 cryptocurrencies to invest in this month:
1- $BTC (BTC)
2- $ETH (ETH)
3- $ADA (ADA)
4- $Bitcoin Cash (BTH)
5- Dogecoin (DOGE)
Bitcoin (BTC)
Bitcoin is the leading cryptocurrency by market capitalization (approximately âŹ1.06 trillion as of August 2024). BTC was created in 2008 and is one of the most popular cryptocurrencies to invest in as of September 2024. It is considerably decentralized and can be used as a payment system. BTC was trading at around âŹ54,015 during the second week of August 2024.
The pioneering cryptocurrency suffered a fall in early August, trading at around âŹ52,000. According to on-chain analytics firm Lookonchain, institutions apparently temporarily stopped buying BTC, which partly contributed to the price drop. However, Bitcoin has great potential for appreciation and is estimated to exceed âŹ67,600 by the end of 2024.
Ethereum (ETH)
Ethereum was created in 2015 by Vitalik Buterin and its current market capitalization is around 290 billion euros. Ether was launched with the aim of becoming an instrument for decentralized and collaborative applications on which smart contracts can be made. The cryptocurrency, which exceeded âŹ2,416 by mid-August 2024, is considered one of the most popular cryptocurrencies to invest in September 2024.
Recently, a huge Ethereum whale that participated in the Ether ICO in 2015 made movements with a considerable amount of ETH transferred to an Exchange. The movement, which exceeds 141 million euros, has increased the volatility in the price of the cryptocurrency.
Cardano (ADA)
Cardano was created by Jeremy Wood and Charles Hoskinson in 2007 and is distinguished by the use of mathematical principles in its consensus mechanism. ADA is one of the most popular cryptocurrencies to invest in September 2024 and is considered among those with the highest growth rate in the industry. Its price in mid-August 2024 was around âŹ0.30.
The Cardano network has recently been highlighted by its impressive on-chain volume. The latest data revealed shows that ADA settles approximately âŹ7.5 trillion daily in on-chain volume, a figure that surpasses many other blockchain networks.
Network Value Per Transaction (NVT) is an indicator that measures the ratio of market capitalization divided by the volume transferred that can be used to determine whether a coin is overvalued or undervalued. It is established on the basis that price correlates with overall network usage. A very low NVT ratio could suggest that ADA is very undervalued, which appears to be the case at the moment as ADA's NVT is at 2.62
Bitcoin Cash (BTH)
Bitcoin cash was created in December 2017 and is considered a cryptocurrency and a payment network at the same time. BCH was launched with the aim of increasing the number of transactions that can be processed and it is completely decentralized. The cryptocurrency is one of the most popular to invest in September 2024 and its price was around âŹ311 in the second week of August 2024.
Bitcoin Cash price broke above the âŹ308 level on August 9, marking a 36.4% rally from the weekly low recorded on August 5. Following the legalization of cryptocurrency mining in Russia, BCH futures markets have received capital inflows of approximately âŹ18.2 million. As a result, several key technical indicators highlight expectations of a potential breakout of $400 (âŹ362) for BCH.
Dogecoin (DOGE)
Dogecoin was created by programmer and former IBM engineer Billy Markus in 2013. The cryptocurrency emerged from a simple meme and has gained great popularity on social networks such as X (formerly known as Twitter), where personalities such as Elon Musk have shown their confidence and sympathy for it. By mid-August 2024, the price of DOGE was around âŹ0.10, making the cryptocurrency one of the most popular to invest in in September.
According to data from CoinMarketCap, the price of DOGE increased by 6% during the second week of August 2024, with the cryptocurrency maintaining a market capitalization of âŹ13.6 billion. Meanwhile, Dogecoin Core version 1.14.8 has now been officially released and contains several crucial improvements aimed at improving the stability, efficiency, and security of the Dogecoin network.
