Top 5 Altcoins to Watch Today, August 24 – LayerZero, Ordi, Sei, Stacks

The cryptocurrency market saw some signs of bullishness this weekend. The most notable move occurred yesterday when BTC broke through the $60,000 mark and reached $65,000 before its retracement. The price action validates speculations that the market could see another rally in the coming days.

Moreover, the improved market performance also resonates with the trends of major altcoins. Altcoin prices are rising rapidly and we have compiled a list of Top 5 Altcoins to Watch.

Top 5 Altcoins to Watch

The list includes LayerZero, Ordi, Sei, and a handful of other cryptocurrencies. Their market data today shows that they have the prospect of better performance in the coming week.

With the prospect of reaching higher prices next week. The article also includes a look at The Meme Games, one of the best performing presale crypto tokens.

1. LayerZero (ZRO)

Interoperability is the backbone of the future of blockchain. Security issues are a major obstacle to the growth and development of the industry.

LayerZero is a recent project that addresses the problem of interoperability. It was launched with the aim of providing an environment conducive to seamless data transfer and communication between blockchain-based networks.

Since its inception, LayerZero has received excellent reception from various networks in the market. It has also registered numerous use cases. It has also entered into partnerships that will be instrumental for its future growth.

Over the past 24 hours, the price of ZRO has increased by over 10%, bringing its 7-day gains to over 30%. Similarly, the token’s trading volume has increased by over 43% intraday. Other facts suggest that the token is seeing increasing demand.

LayerZero is included in @conduitxyzThe market of ‘s!

Conduit groups interested in unlocking omnichain interoperability, as well as other services, can now apply from a single, integrated platform.

— LayerZero Foundation (@LayerZero_Fndn) August 22, 2024

Conversely, ZRO’s exceptional performance is not without its drawbacks. Although its price has seen a significant increase in the short term, there are some factors that could contribute to a retracement in the future.

The first point concerns the token’s circulating supply. LayerZero only has 10% of its proposed total supply of 1 billion tokens in circulation. This implies that as new allocations are released in the future, dilution could conflict with the asset’s price and market cap.

Investors should nevertheless closely monitor the project’s short-term trends. It has the potential to generate future value and achieve greater upside potential.

2. Computer (COMPUTER)

Ordi is associated with the Ordinal Protocol and is one of the fastest growing projects in the NFT space. Recently, the non-fungible token (NFT) market has seen a major decline as investor interests are mainly focused on Altcoins and BTC.

Nevertheless, ORDI is performing relatively better than expected, thanks to the Bitcoin effect. Since the start of the BTC price surge, the price of ORDI has been on the rise. It has maintained a steady upward trend over the past seven days, significantly outperforming several cryptocurrencies.

The token price has increased by almost 12% today, which explains its presence in the list of the biggest gainers in token market capitalization. In addition, the token’s trading volume has increased by 77%, which indicates that investors are reacting positively to the increasing value of the token.

This data suggests that the project has further upside potential. Despite the decline in the NFT market, ORDI still has a chance in the current market recovery. Early investors in these assets have made returns of over 1,100%. If the NFT market recovers in the long term, new participants could see even higher returns. Therefore, investors in the BTC ecosystem should include ORDI in their watchlist.

3. Meme Games (MGMES)

THE Meme games is an Olympic-themed crypto token that has recently caught the attention of crypto investors around the world. The project’s timing gives it undeniable appeal. It features a series of meme-related crypto projects in an Olympic-style event.

Therefore, investors have the opportunity to support their favorite cryptocurrency. Among the most popular cryptocurrencies are PEPE, BRETT, DOGE, and several other major and upcoming cryptocurrencies. The winning meme coin earns investors who support it a 25% bonus.

According to the project’s website, more than 200 participants received the bonus. However, the offer is limited to pre-sale participants, as MGMES Token is still in presale. The opportunity to participate in the presale is open to everyone.

Interestingly, it comes with a discount offer that will last for about 17 hours as of the date of writing this article. The details of the project and the guide to the benefits of purchasing in advance are provided on the advance sale page.

Visit the MEMES presale

4. Batteries (STX)

Stacks is the native crypto token of the Stacks blockchain. The project has a reputation as one of the scalability solutions built on the Bitcoin chain. It provides smart contract capability to the Bitcoin chain while preserving its security integrity.

STX is used for various purposes within the Stacks network. It serves as a medium of exchange within the chain. Projects leveraging Stack’s features would make payments in the platform’s native cryptocurrencies. Additionally, STX allows holders to participate in trades, which helps increase the value of their holdings. It also powers the consensus mechanism within the network. The platform operates on consensus, and STX holders are responsible for maintaining the security of the network.

STX’s immense utility helps maintain the value of the cryptocurrency. Despite being one of the oldest cryptocurrencies in the cryptocurrency market, it continues to outperform many new competitors. As asset prices rise across the board, STX is seeing rising prices. Over the past 24 hours, the token’s cost has increased by 7%. Its trading volume has seen a 20% increase. The gains have also led to additional liquidity flowing into the token, giving it a market cap valuation of $2.7 billion today. Investors monitoring the BTC ecosystem should keep an eye on the STX token as its potential for further upside is relatively high.

5. Sei (SEI)

Sei is described as the first Layer One blockchain focused on providing unfair advantages to exchanges. The project focuses on providing a scalable platform for trading and financial services. According to its CoinMarketCap page, it is optimized to provide higher throughput and low latency. In other words, it allows trading platforms to operate much faster and provide reliable transactions to cryptocurrency traders at low costs.

The SEI token has been on a downward trend for a few weeks now. SEI is the native cryptocurrency of the SEI platform. It serves as a means of transaction within the network. It is used for fee payments and other network-related activities.

The token’s price has increased by 10% in the last 24 hours following the recovery of BTC’s price. However, it has maintained a steady upward trend over the last seven days, as seen on its price chart. At the current rate, the token’s market cap could reach the $1.5 billion market in the next quarter or two.

Spotlight on another key member of the Liquidity Alliance: @Auros_globala leader in strategic market creation and liquidity solutions.

Auros brings cutting-edge technology and a distinctive approach to liquidity provision that is expected to elevate the Sei ecosystem. Their expertise… pic.twitter.com/M7yFiq9U3D

— Sei 🔴💨 (@SeiNetwork) August 23, 2024

Moreover, investors are optimistic about the return of the DeFi season. They anticipate a potential increase in the value of assets in the sector. Evidently, Aave and CRV, which are among the best-performing assets in the sector, have been on the rise for a few days now. Therefore, key assets, such as SEI, will also see further increases in the coming days.

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