Get in before take-off! The bull run is about to continue. Will that be in August? The truth is, I don’t know. If we look at the historical performance of August since 2013. It’s not that great. We see 7 red and only 5 green months.
However, if I look back at the last 14 years, it looks pretty good. For 11 years, crypto assets performed best. 4 That’s when compared, to various Bonds, the Nasdaq, gold, US cash or commodities. So, all hope isn’t lost! That’s why my research team and I found this altcoin pump list in August.
1) Ethereum ($ETH)
The first coin on today’s list has to be Ethereum. With its spot ETF being live, it can start moving upwards in August. On 23rd July, the Ethereum spot ETFs started live trading. Following Bitcoin’s sample, the first thing $ETH did was drop in price 3. It was down by 12% after the ETFs launched.
Source: X
$BTC did the same. It dropped 21% in price. But, soon afterward, its price increased by 90%. So, the Ethereum volatility could partially be because of Grayscale’s Ethereum Trust outflow. This $11 billion fund transitions to an ETF.
With that out in the open, $ETH could hit new ATHs soon. Predictions start at $5k. So, what do you think? Is that realistic, or will it rise more or less? Let me know in the comments.
Also, a couple of things to note though. Ethereum is currently no longer deflationary. In contrast, it’s highly inflationary. Each week, Ethereum mints 50-60K of $ETH. However, there are not enough transactions on Ethereum to burn this weekly supply. And in all fairness, why would you want to have a transaction on Ethereum? Gas prices in Ethereum are still way too expensive. There are plenty of cheaper alternatives, like L2s or other L1s. Nonetheless, watch out for Ethereum in August.
2) Solana ($SOL)
One coin that shouldn’t be missing is $SOL. Solana is on fire, and it looks like it won’t stop anytime soon. Over the last 30 days, $SOL is up by 35%. 3 Its price is closing in on $200. Less than two weeks ago, I did a deep dive into Solana. Why is Solana on fire? Well, here are only a few updates. For example:
- Solana spot ETFs could be in the making. We’re looking at Q1 or Q2 2025 at the earliest.
- The new Blinks. These are direct payment options, bypassing third parties.
- The Firedancer upgrade for validators. It improves Solana’s security and decentralization.
- Solana’s DeFi is also on fire. It keeps surpassing other chains’ DEX volumes. For instance, on 28th July, it surpassed the combined volume of Ethereum and Arbitrum.
- PayPal’s’ stablecoin $PYUSD is making waves. In less than two months, the supply is $239 million.
- SOL is now the fourth-biggest coin measured by market cap. It managed to bypass $BNB.
Source: X
And don’t forget Solana’s ecosystem. Tokens like $JUP, $IO, $JTO, and $ORCA are all looking good as well. So, all signs for Solana seem to be on green. Don’t miss out on Solana and its ecosystem.
3) LayerAI ($LAI)
Layer AI takes us into the AI and DePIN sectors. So far, these are two of the most promising crypto sectors in 2024. It focuses on monetizing your data within AI models. So, let’s take a closer look at its ecosystem and main features.
It’s a zkRollup Layer-2 blockchain network. — The team built this with the PolygonCDK. This is a Chain Development Kit. It allows devs to launch new L2 chains running Polygon zkEVM tech on Ethereum. Or transition an existing L1 chain into zkEVM L2s. This allows for better scalability. Other scalability options that Polygon provides, are for example:
- PoS — An EVM-enabled sidechain.
- zkEVM — An open-source zk-rollup.
- Miden — Zk-optimized rollup.
- LayerVPN — This is a VPN built to function as a node.
- KyotoX — A DEX lending platform for AI projects.
- Layer Marketplace — The NFT marketplace to transact Data Capsule NFTs.
- LayerAI App — A data economy app to buy or sell Data Capsule NFTs and collect rewards.
Source: X
The Data Capsule NFTs represent your dataset. In other words, your browsing activity on the internet. This allows you to monetize your behavioral data. So, you make money and not the Googles of this world. There’s a lot of activity going on in LayerAI. That’s why I bring it to your attention. For example:
- A new fiat on-ramp for buying $LAI.
- Their decentralized computing protocol is coming soon. That’s their entry to DePIN.
- AI2Earn should launch in Q4.
- Various network upgrades.
This is an AI project you want to keep a close eye on.
4) Mantra ($OM)
I just covered AI and DePIN with LayerAI. Now it’s time for an RWA project. Well, that’s Mantra ($OM). Its home is in the Cosmos ecosystem, a longtime favorite of me and the Altcoin Buzz team. Mantra focuses on traders and institutions.
Its goal is, among others, to be a fully compliant chain. For example, with SOMA in the US, in the UAE, Latin America, and more locations to follow. SOMA is a System Open Market Account run by the Federal Reserve. So, these are dollar-denominated securities. Its ecosystem has four main features:
- Mantra nodes — These are the cornerstones and form the foundation for its ecosystem.
- Mantra chain — The protocol on Cosmos that is also EVM compatible.
- Mantra Finance — A DEX for their RWAs and other features.
- Mantra DAO — DAO services for the various features of Mantra.
So, there’s a market for these compliant RWAs. It is a permissionless chain with permissioned apps. This market flourishes and the $OM token is up by almost 5,000% during the last year. You can stake this token on their Mantra DEX for up to 35% rewards.
Source: X
Did I already mention that Mantra is on fire? So, which of these four projects is your favorite one? Or, in case I missed your favorite project, let me know in the comments which one it is.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
