Updated On: Sat, August 31, 2024, 08:06 AM GMT
The cryptocurrency market has been on a rollercoaster lately, with August bringing its fair share of volatility. Bitcoin (BTC) took a significant dive, dropping from $70K on July 30 to $49K on August 5. However, the market has since bounced back, with Bitcoin trading above $60K and altcoins also gaining momentum.
As we look ahead to September, historical trends suggest that Bitcoin often struggles during this month. According to Coinglass, Bitcoin has seen a consistent drop in September returns for six of the last seven years, with 2023 being the only exception. Despite this, certain altcoins are showing strong bullish potential. Here are the top 5 altcoins to keep an eye on in September 2024:
1. Kaspa (KAS)
Kaspa (KAS) is currently trading between $0.16 and $0.18. Despite a recent decline, KAS has shown resilience, posting a +2.54% gain over the last 7 days, indicating a bullish sentiment. If KAS can break through the $0.17 resistance, it could be poised for a significant upward surge.
2. Render (RENDER)
Render (RENDER) is trading in the $5 to $5.20 range. The token has gained attention due to the strong Q2 earnings report from AI tech giant NVIDIA, which has positively impacted AI and decentralized physical infrastructure networks (DePIN) projects like RENDER. Currently, RENDER is trading at a critical support level around $5.08. If bulls can push it higher, substantial gains could be on the horizon.
3. Artificial Superintelligence Alliance (FET)
FET is a leading token in the AI narrative, maintaining stability in August following NVIDIA’s Q2 earnings report. However, the market’s volatility pushed FET down to $1.11, a major support level. If FET can hold this support, it could be set for further gains in the coming weeks.
4. Tron (TRX)
Tron (TRX), associated with blockchain billionaire Justin Sun, recently hit a three-year high of $0.17. This surge helped TRX break into the top 10 cryptocurrencies by market capitalization, surpassing Cardano (ADA). Over the last 30 days, TRX’s price has increased by 19.10%, outpacing Bitcoin (BTC). The launch of the memecoin generator SunPump in August has brought renewed interest to the Tron ecosystem, suggesting more gains could be ahead.
5. Sui (SUI)
Sui (SUI) is currently trading at $0.82 and has shown impressive resilience, with a +14.70% gain in the past 30 days despite a bearish market. The recent surge in SUI’s price came after Grayscale announced the launch of the SUI Trust, signaling strong institutional interest. With Grayscale’s involvement, SUI looks promising as we move into September.
As we enter September, these five altcoins are showing strong bullish potential despite the broader market’s mixed signals. Keep an eye on these projects, as they could be the ones to watch for potential gains in the near future.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice.