Many cryptocurrencies this month have shown signs of being ready to erase the losses they experienced in the second quarter of 2024. While some managed to achieve this, others were not as lucky as July ended.

In August 2024, investors will keep an eye on cryptocurrencies that perform well and more importantly, those that can reach all-time highs (ATH). This analysis focuses on the top four cryptocurrencies with such capability
Mantra (OM)

If Mantra's staggering 1956% rise (OM/USD) this year is something to look at, it could soon become a household name in the cryptocurrency market. Over the past 30 days, the value of the small cryptocurrency has increased by as much as 50.15%.

This amazing move made it the best-performing cryptocurrency in July. For August, the Mantra symbol could continue to rise and possibly surpass an all-time high. The all-time high for OM is $1.42, which it reached on June 22.

However, the currency's current price of $1.17 means it only needs an increase of about 18% to surpass all-time highs. According to the data on the network, OM may be able to achieve this in August 2024 due to the inflows coming from institutional investors who collect the token
Based on IntoTheBlock data, the number of addresses holding 1 million to 10 million OM has risen dramatically in the past 30 days.

This proves the growing demand for the Mantra token. If this continues in August, the OM price could revisit its all-time high and possibly approach $2
SOL)
A few days ago, Solana (SOL) achieved a new year-on-year rise in terms of open interest. In the same period, active addresses on the network reached their highest level in nearly three years.

This data suggests that Solana's price may soon reach an all-time high. On July 29, Solana reached $194.40.

At $183.41, Solana is 29.60% below an all-time high. If the token performs slightly better than it was in July, it could reach an all-time high. One reason for this prediction is Solana's superiority over Ethereum (ETH). Sometime in July, Solana's price outperformed Ethereum by 42.50%, reinforcing its position as the lead leader of the course.

For example, when the month began, 1 solana was equal to 0.040 Ethereum. But at the time of writing, it is now 0.050 Solana. If this dominance continues and Solana manages to break the $200 barrier, this could be the catalyst that helps him surpass $260 and finally lead to new all-time highs
Toonquin (TON)
Despite facing decisive resistance, Tonkcoin is one of the cryptocurrencies that could hit an all-time high in August 2024. At the time of writing, TON is trading at $6.78, and as with OM, the symbol is down 17% from its peak
From a technical perspective, TON/USD seems to have seen vendors exhaust and slowly climb the charts. The Relative Strength Index (RSI) also supports this forecast, as the symbol seems to be building bullish momentum.

If this continues, the TON price could surpass the $7.45 resistance and revisit $8.33. Once this happens, it may be relatively easy to approach a higher value that becomes a new high
Jupiter (JUP)
JUP is the token of Jupiter Exchange, a decentralized stock exchange complex built on the Solana network. This analysis includes JUP/USD based on an earlier report from beIN Crypto that the project plans to cut supply by 30%.

However, supply reduction is usually good for prices in the cryptocurrency market, and this was evident in the rise of JUP when the move became known to the public. However, this proposal is subject to a vote, and the result is expected to be approved when it is announced in the first week of August 2024, and with the RSI rising significantly, this means that the momentum and sentiment around the digital currency is positive.

The all-time high for JUP was $2.04 in January. At the time of writing, it is trading at $1.08, but in the first quarter, the symbol has seen 100% increases in short periods. So, if the venture reduces supply, something similar could happen, leading it to reach a new all-time high of $2.16

#ton #solana #OM #JUP

The race for stablecoin supremacy heats up as industry experts debate Tether's role and new players such as PayPal (NASDAQ:PYPL) enter the scene

Jamie Coates, an expert at Bloomberg Intelligence, pointed to the growing dominance of Ethereum. Which are highlighted by the main network adoption metrics and second-tier projects such as Eoptic, Arbitrum and Base

Ethereum's scaling roadmap is expected to significantly reduce Tier II transaction costs. Thanks to the highly anticipated EIP-4844. This comes as PayPal recently launched its stablecoin, PYUSD. Fueling speculation that it may develop its own second-tier network

The expert also predicts that stablecoins could outperform Bitcoin's user base within 3 to 5 years. Driven by commercial integration, product innovation, and scalability. This is in line with recent data showing a record 17.4 million titles containing more than one dollar of stablecoins. It is a sevenfold increase since 2021

#Ethereum

$ETH

In the latest situation of Ripple and Doge, the two currencies have seen many developments in their markets, apart from the macro data affecting the market in general

Ripple XRP saw a short-lived rally last month with the interim ruling of the Ripple lawsuit. Despite having made huge predictions about the price of the cryptocurrency over the past month, Ripple XRP entered the correction phase before reaching the $1 level

If Ripple XRP sees a one-day close above $0.65 for the remainder of the week, it will technically have made an important move to finish the correction phase. Thus, in the bullish scenario, after surpassing the $0.65 level, we can see a movement extending to $0.8 in the short term

 (DOGE)

Dogecoin continues to fluctuate according to Elon Musk's words and deeds, as has been the case for a long time

As is known, the richest person in the world, Elon Musk, is the strongest defender of the Doge. Because the recent bullish movement in Doji came with plans to change the name of Twitter to X and use the social media platform as a payment platform. Although the development has not yet backed up an official statement, it has caused speculation that Doji could be used as a payment tool on the X platform. Plus, although Musk doesn't speak, he continues to give small hints about his support for Doge through some of his actions

While expectations persist that Doge will become the payment option on the X platform, formerly known as Twitter, any surprise statement on the subject has the potential to increase demand for the digital currency very quickly

#XRP #doge

Over the past week . The Cardano team built its momentum to support a highly vibrant blockchain ecosystem. According to the joint updates, the Cardano protocol recorded a total of 73.2 million transactions during the week. The total recorded token policies were 78,063 while overall, as many as 137 projects were launched on the blockchain

Cardano where it has gone on to enjoy tremendous developer support. The approach previously unveiled by IOG to integrate members of the public into the decision-making process as teams developing some of their most innovative products take a journey in their efforts to pave the network

Over the past week . Cardano developers scored a remarkable achievement with a series of updates released across the board

One of the most important highlights is the transition from the core technology team to the pre-release "Node v.8.2.1-pre for use on SanchoNet. It is a new development network created to introduce the Cardano community to the governance features of CIP-1694. and to build and test together in a controlled environment, through a tiered series of regular releases

Cardano works in a unique way with different teams dedicated to different products. As reported, almost every team scored. Including those who work in Mithril, Lace and Voltaire. Great achievements to complement the growth target that is printed week after week (WoW) for the past few months

#cardano $ADA

Bitcoin's price remained largely unchanged despite the SEC's latest action.

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on the Ark 21Shares spot Bitcoin’s (BTC) ETF application.

Earlier today, the financial regulator asked for public comments, including written data, views, and arguments, on the Ark’s BTC application within the next three weeks.

In the notice, the SEC asked the public to comment on whether Bitcoin Spot ETFs are vulnerable to manipulation, whether the Chicago Mercantile Exchange (CME ) represents a regulated market of significant size related to spot BTC trades, views on the surveillance sharing agreement (SSA) with Coinbase, and whether the Bitcoin market resists manipulation.

#BTC

The notable asset among the top 20 cryptocurrencies last week was DOGE. Dogecoin began to rise after Elon Musk made drastic decisions by changing the name of Twitter, the social media platform, to X. Elon Musk also added a Doji icon to his Twitter bio. This has led to increased demand for cryptocurrencies, fueling speculation that Doji could be used while structuring Twitter as a payment platform. After rising 18% to $0.083 at the start of the week, the Doge fell to $0.078 by the end of the week as earnings sales weighed down. The Doji rate increased by 9% week-on-week

Shiba Inu, positively impacted by Elon Musk's influence on the MEMIC currency market and developments in its ecosystem, became one of the prominent altcoins with an 8% increase in value yesterday. The price of Sheba rose and approached the range of $0.000008 with an increase of nearly 5% week-on-week after the last price volatility, becoming the second cryptocurrency in the list of the top 20 currencies

One of the highlights this week was the approval by the Senate of the bills voted on on cryptocurrency regulations in the US Senate

Cryptocurrencies with the highest profits and losses during the week

The top 5 winning cryptocurrencies among the top 100 cryptocurrencies this week came in as follows:

GMX : 13.32%

XDC: 12.44%

FLEX: 11.2%

Maker (MKR) : 10.78%

DOGE: 8.7%

The top 5 losing cryptocurrencies this week came in as follows:

Baby (PEPE): - 12,42%

GALA: - 12%

Toonquin (TON): - 10%

Injective (INJ) : - 9.65%

SUI): - 8.75%

#DogeCoin #shibaInu