Table of Contents
In this episode of the BeInCrypto video news show, host Jessica Walker takes a look at our top five altcoin picks for the month of September, with the crypto market showing signs of a revival after several painful months.
There could currently be no other altcoin in the top spot, so at number one we have Solana. With a 250% climb in the last month, passing $100 a couple of days, this altcoin should definitely be on your watchlist.
The chart tells the story better than we can – from a dollar fifty on January 1st, to around $105 at the time of recording, this has been a phenomenal run.
Solana is an ETH competitor that is starting to carve out a niche of its own. It is progressing on all the important metrics, has had DeFi projects launched on its platform like Pyth and Raidium, as well as entered the NFT space by launching their marketplace Solanart.
The latest surge has also been driven by the expectation of the so-called “Ignition” event, which the team announced on August 27th on Twitter. And the coming few weeks could see even more upside with institutional investors learning about the SOL token and the growth potential it has.
Terra’s Luna token comes in at number two for September. We featured them last month and since then, this altcoins is up 200%. We don’t want to become repetitive, but such a performance is indicative of unexplored potential.
The chart shows this clearly, with the uptrend still going. But in the last two weeks there have been some down days, while other cryptos have kept going.
The main positive news that boosted the price was that Coinbase Pro recently launched Wrapped Luna and TerraUSD on its trading platform. Both tokens, along with Luna, are part of the Terra network’s ecosystem. With this, the developers behind the Terra network have seemingly solved a critical problem in the cryptocurrency space.
This would be allow a cryptocurrency to simultaneously be stable enough for use as payment, as well as volatile enough so there’s room for capital appreciation. Terra manages this by linking the value of Luna tokens to the TerraUSD stable coin, which has a theoretical exchange rate of 1 for 1 against the U.S. dollar.
And all the recent activity has resulted in Terra becoming the third-largest blockchain by total value behind ETH and Binance. Definitely one to watch.
One project that has been on the rise over the past month is Tezos, a proof-of-stake blockchain network designed to evolve over time without needing a hard fork. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $2.09 on July 20, the price of XTZ has rallied 165% to a high of $5.53 on Aug. 27.
There were three main reasons for the strong growth seen in XTZ over the past month. The first reason is improvements made to the network through the recent ‘Granada’ upgrade. The adoption of the Tezos network by several large banking institutions and attractive staking rewards that entice token holders to stake their coins on the network.
The chart confirms that the rally has a lot of steam behind it, but we are headed towards two important levels that could put an end to it, at least from a technical perspective. Keep an eye on $7.18 and $8.40, the all-time high from May. Should the latter fall, we could be in for even faster growth.
We love seeing this on a chart – a steady trend line that shows the general direction clearly. Waves is our number four pick for the top altcoins in September and it’s seen a steady climb since the beginning of the year. It did follow the broad market sharply up in May, but the drop that followed wasn’t close to previous lows and signals a reliable interest from investors.
Waves is a multipurpose blockchain platform which supports various use cases including decentralized applications and smart contracts. Launched in June 2016, Waves initially set out to improve on the first blockchain platforms by increasing speed, utility and user-friendliness. The platform has undergone various changes and added new spin-off features to build on its original design, and we think it could be a winner in September and beyond.
And at number five we have Revain. The REV token has jumped over two cents, and it’s about 300% above the lowest level in July this year. It’s the native token of Revain, a blockchain project that is attempting to disrupt the massive customer review business.
The developers have created a platform where people can leave reviews of most companies. Some of the most reviewed platforms in the ecosystem are actually cryptocurrency exchanges like Binance and Coinbase.
By decentralizing the reviews process, the team is removing the incentive to manipulate the reviews. It is also removing the situation where moneyed companies pay to have favorable reviews. Today, the company has added more than 13,000 companies on its platform while users have left more than 71,000 reviews.
Still, from a fundamental perspective, the developers face key challenges ahead. For one, the reviews’ industry is highly competitive, with companies like Yelp, Google, and Apple having a substantial market share in the industry.
The daily chart shows that the REV price has been in a parabolic rally recently. It has risen in the past four consecutive days and is trading at the highest level since May. Along the way, the coin has moved above the key resistance level at $0.01, which was the highest level in June this year. The pair may continue with the bullish trend as investors target the key resistance level at $0.0300. However, a drop below $0.015 will invalidate the bearish view.
Is this a case of investors just looking for the next altcoin that can explode, or is this a genuine competitor that brings decentralized innovation to a sector that’s been stuck for years. Only time will tell, but right now REV looks like the altcoin FOMO play for September.
The post BIC’s Video News Show: Top 5 Altcoins for September appeared first on BeInCrypto.