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Cryptocurrency investors are preparing for a critical September, with several significant United States’ macroeconomic events on the horizon that could impact the best altcoins to buy now. The Fed’s upcoming interest rate decisions are especially crucial, as they are expected to influence market dynamics. Whether positive or negative, changes in economic data can greatly affect investor sentiment and risk appetite, thereby influencing the attractiveness of assets like Bitcoin.
Last week’s market downturn opened a window for wise investors to update their portfolios with prospective tokens. This week’s market rebound also offers another window for savvy investors to capitalize on the current trend.
5 Best Altcoins to Buy Now
LayerZero (ZRO) is emerging as a key player in the crypto industry, primarily due to its focus on enhancing cross-chain communication. The Meme Games project has also attracted attention by timing its presale to coincide with the 2024 Paris Olympics and Paralympics.
The presale will conclude on September 8, and the project plans to list on a decentralized exchange (DEX) by September 10. In other news, cryptocurrencies were up on Tuesday despite ETFs witnessing outflows as Wall Street eagerly awaits labor market data.
1. THORChain (RUNE)
THORChain has grown considerably over the past week, particularly its weekly liquidity fees, which have increased significantly after a long period of consolidation. Last week, the network witnessed transactions surpassing $500k and reaching $744.8k. This figure marks a 71% gain compared to the previous week, indicating a substantial breakout.
This growth comes during the first full week since the protocol raised its minimum Layer 1 (L1) swap cost to 0.15%. Despite the higher prices, network users have continued to use the service, showing resilience and the value they find in THORChain. The L1 swap traffic remains robust, with the average daily volume steady at $30.8 million, suggesting that the increased fees do not deter users.
Fees generated are the most important KPI, since they generate all revenue for the liquidity & security providers of the network
The signal?
Fees up https://t.co/wTW4GtRz87— THORChain (@THORChain) August 25, 2024
For the first time in 2024, the network’s fees have exceeded block rewards. Over the past week, liquidity fees comprised 51% of the total incentives distributed. THORChain has also seen substantial user growth. According to data, the user base has grown by 41% in 2024, reaching over 510,000 unique users. Similarly, the network’s trading volume has exceeded $71 billion. RUNE traders at $4.17 during press time, reflecting a 7% intraday rally.
2. LayerZero (ZRO)
LayerZero’s (ZRO) focus on enhancing cross-chain communication has made it a merging player in the crypto industry. The network’s appeal lies in facilitating smooth interactions between different blockchain networks. This capability is particularly important as the blockchain ecosystem becomes more congested. Its role in enabling data and asset transfers across various blockchains enhances its value in the decentralized finance (DeFi) sector.
ZRO is changing hands at $4.24, reflecting a 40% intraday rally. The 7-day chart also indicates substantial growth over the past week. As of August 29, LayerZero’s general sentiment is bullish, supported by fourteen technical analysis indicators showing positive signals.
LayerZero is excited to be participating in the EthOnline Hackathon!
A total of $20,000 is up for grabs for the top three projects that build innovative omnichain solutions using LayerZero’s toolkit and contract standards.
The deadline to submit is September 13, 2024.
Find all… pic.twitter.com/2UKn7DVWe7
— LayerZero Foundation (@LayerZero_Fndn) August 27, 2024
Over the past 30 days, LayerZero has closed above its opening price on 15 occasions (50% of the time). Predictions for this week suggest that ZRO will trade between $4.20 and $5.09. If it hits the upper target, it could increase by 21.05% to reach $5.09 by September 2, 2024. If the rally is sustained, ZRO is predicted to surge by 231.21%, reaching $13.92 by September 28, 2024.
3. dogwifhat (WIF)
On Monday, memecoins experienced a notable recovery as the broader cryptocurrency market rallied during the Labor Day holiday. Dogwifhat (WIF) mirrored this trend, surging by 13.21% to $1.58. Despite this uptick, the price prediction sentiment remains bearish, with WIF still down 67% from its all-time high, indicating significant volatility.
Dogwifhat is trading between $1.20 and $1.77. WIF’s recent 25% dip within a week has caught the attention of bullish investors, who are focusing on key resistance levels.
The next significant resistance level is at $2.14. Surpassing this could propel the price to $2.71, representing a potential 55% increase from the current range. If WIF maintains its support level at $1.01, it could pave the way for a strong uptrend, with bulls ready to challenge the bearish momentum.
WIF’s 30-day volatility is 10%, well below the 30% threshold, indicating a period of relative stability. Additionally, the coin has high liquidity, evidenced by a volume-to-market cap ratio of 0.8385. WIF shows robust trading activity with a market cap of $1.58 billion and a 24-hour trading volume of $1.33 billion.
4. The Meme Games (MGMES)
The Meme Games project has garnered attention by aligning its presale with the upcoming 2024 Paris Olympics and Paralympics. This strategic move and a gamified presale approach have attracted significant interest within the blockchain community. The presale is scheduled to end on September 8, with a DEX listing planned for September 10. The project has raised over $407,000, indicating strong early interest.
The current price of MGMES tokens is $0.0094, with the next price increase expected in four days. Investors can participate in the presale through the project’s website using an Ethereum or BNB Chain wallet.
Just 6 days left until the Meme Games #Presale ends. 🔥
Join now, pick your winning meme champion, and lock in a 25% bonus if they clinch the victory. 🥇
1️⃣ Presale ends on 8th of September at 10 AM UTC
2️⃣ Claim & token launch on 10th of September at 10 AM UTCDon't miss… pic.twitter.com/MPUw4DrpuR
— The Meme Games (@MemeGames2024) September 2, 2024
The Meme Games project is making a unique impression in the cryptocurrency market by merging the concept of a meme coin with the excitement of the 2024 Olympics. Although the Mondial event has concluded, the project continues to draw attention due to its Olympic-themed concept. The total supply of MGMES tokens is capped at 2.024 billion, with 38% allocated for the presale, offering early investors a substantial share.
A standout feature of The Meme Games is its focus on fairness and unpredictability. Each character in the game has an equal chance of winning, which adds an element of excitement and potential reward for participants. Investors can also receive a 25% bonus on their MGMES tokens if their selected meme athlete wins. Additionally, they can improve their chances by purchasing tokens multiple times and supporting different characters.
The project also includes a staking option, promising an annual return of 470%, though this rate may vary based on participation levels. Staking offers an opportunity to grow holdings before MGMES is listed on exchanges.
Overall, The Meme Games combines an innovative concept with strategic timing to capitalize on the upcoming Olympic excitement and the growing interest in meme coins within the crypto community.
5. BNB (BNB)
The BNB Chain ecosystem expanded significantly between August 20 and August 31, 2024, introducing various new projects across multiple sectors, including DeFi, AI, decentralized social networks (DeSoc), and Web3 gaming.
LIKWID is a decentralized finance (DeFi) platform that stands out among the new entries. It offers no-loss presales and transaction fee-sharing features and aims to operate across multiple blockchains. Its goal is to integrate smoothly within the broader DeFi landscape.
Noracle is another key project that focuses on artificial intelligence (AI). It provides a protocol for prediction-based decentralized applications (Dapps) and games, enhancing interactive and predictive functionalities within the Web3 environment.
Despite these promising additions, the volumes of decentralized exchanges (DEX) on the BNB Chain have seen a significant drop of 29% over the past week. This decline is more pronounced than the decreases recorded by DEXs on Ethereum (11.5%) and Solana (19%). However, Binance Coin’s (BNB) price has shown signs of recovery, rising to $535.
Here's what you missed out on at the BNB Incubation Alliance, Nashville 📺 👇
Don’t miss out at #Token2049 in Singapore 🇸🇬
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Sponsored by @whyanelephant, @LorenzoProtocol, @D11_Labs, @Seraph_global, @XterioGames, @SolvProtocol &… pic.twitter.com/kgUzWI5PyF
— BNB Chain (@BNBCHAIN) September 3, 2024
BNB remains one of the top cryptocurrencies in market capitalization, excluding stablecoins. With a market cap of $77.98 billion, it ranks just behind Ethereum (ETH) at $302 billion and Bitcoin (BTC) at $1.164 billion. Furthermore, Binance Coin is trading 2.82% above its 200-day Simple Moving Average (SMA) of $519.23, indicating a positive trend relative to its token sale price.
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