Is August 2024 for New All-Time Highs? Top 4 Cryptos to Watch

This month, many cryptos confirmed indicators of readiness to erase the losses skilled for many of the second quarter of 2024. Whereas some have performed that, others will not be as fortunate as July ends.

In August 2024, buyers will watch which cryptocurrencies carry out properly and, most significantly, which might hit new All-Time Highs (ATH). This evaluation focuses on the highest 4 cryptos with such potential.

MANTRA (OM)

If MANTRA’s (OM) beautiful 1,956% enhance this 12 months is one thing to think about, then it might quickly turn into a family identify within the crypto market. Within the final 30 days, OM, which is the token of the security-first layer01 blockchain, specializing in the tokenization of Actual World Belongings (RWA), has elevated by 50.15%

This stunning move makes it the best-performing crypto in July. For August, the MANTRA token might proceed the run and doubtless surpass its all-time excessive. OM’s all-time excessive is $1.42, which it reached on June 22.

Its present worth of $1.17 means it solely wants an roughly 18% enhance to surpass it. In response to on-chain information, OM might be able to obtain it in August 2024 because of the inflow of institutional giants accumulating the token.

Based mostly on IntoTheBlock’s information, the variety of addresses hodling 1 million to 10 million OM has climbed by important figures within the final 30 days. 

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This proves the growing demand for the MANTRA blockchain’s native token. If sustained in August, OM’s worth could revisit its all-time excessive and doubtless inch nearer to $2.

Solana (SOL)

A few days back, Solana (SOL) hit a new yearly high when it comes to open curiosity. Across the similar interval, lively addresses on the community reached their highest stage in nearly three years.

These occurrences recommended that SOL’s worth might quickly attain a brand new ATH. On July 29, SOL hit $194.40. Nonetheless, requires a return above $200 didn’t materialize because the upswing was rejected.

At $183.41, Solana is 29.60% down from its ATH. If the token performs a bit higher than it did in July, it might hit a brand new all-time excessive. One of many causes for this prediction is its dominance over Ethereum (ETH). At one level in July, SOL’s worth outperformed ETH by 42.50%, reinforcing its standing as the most important chief of this cycle. 

As an example, when the month started, 1 SOL equaled 0.040 ETH. However at press time, it’s now 0.050 ETH. If this dominance continues and SOL breaks above $200, it might be the catalyst that helps it surpass $260 and finally leads it to new all-time highs. 

Toncoin (TON)

Despite facing crucial resistance, Toncoin is among the cryptos that may attain a brand new ATH in August 2024. As of this writing, TON trades at $6.78, and like OM, the token is 17% down from its peak.

From a technical perspective, TON appears to have skilled vendor exhaustion and is slowly climbing the charts. The Relative Power Index (RSI) additionally helps this prediction, because the token appears to be build up bullish momentum.

If sustained, the value of TON could surpass the $7.45 resistance and revisit $8.33. As soon as this occurs, it might be comparatively simple to method the next worth that turns into the brand new all-time excessive.

Nonetheless, if bulls wrestle to interrupt the resistance, TON’s potential for a brand new ATH might be invalidated.

Jupiter (JUP)

JUP is the utility token of Jupiter Alternate, a decentralized change aggregator constructed on Solana. Its inclusion on this listing has strong backing, as BeInCrypto previously reported that the undertaking plans to cut back the toen provide by 30%.

Decreasing provide is often good for the value within the crypto market, and this was evident in JUP’s rally when the event turned public. Nonetheless, this proposal is topic to voting, and the result is predicted within the first week of August 2024.

By the look of issues, the Jupiter group could give the go-ahead, particularly because the RSI has jumped considerably. Which means that momentum and sentiment round crypto are optimistic.

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JUP’s all-time excessive was $2.04 in January. As of this writing, it trades at $1.08, however within the first quarter, the token skilled a sequence of 100% will increase inside a brief interval. Subsequently, if the undertaking reduces provide, an identical factor might occur, main it to achieve a brand new all-time excessive of $2.16.