Top Crypto Performers September 2 – Helium, Uniswap, MANTRA

Posted by cryptonews Crypto News September 2, 2024 2.9k Views

Top Crypto Performers Today / Source: Cryptonews

While major cryptocurrencies rebounded on Monday after plunging to new multi-week lows over the weekend, traders are searching the alt-coin market for top performers that could maintain bullish momentum in September, which is usually a bearish month for cryptocurrencies such as Bitcoin (BTC).

The Bitcoin price has risen on just three out of the nine prior Septembers, per bitcoinmonthlyreturn.com.

Bitcoin was last trading in the upper $58,000s, up around 2.5% on the day.

Other major cryptos were also trading with a slight positive bias, with Ethereum (ETH) up 2.2% in 24 hours to just above $2,500, per CoinMarketCap.

The US jobs data on Friday and the ISM PMI reports later this week are two key pieces of US economic data that the bulls will be hoping will both bolster the case for Fed interest rate cuts and allay fears that the US economy is about to enter a recession.

Will This September Buck the Bearish Trend?

Indeed, the bulls will be hoping that the first Fed interest rate cut since 2020 later this month could boost sentiment.

The labor market is beginning to show signs of weakness and inflation has significantly decreased this year. As a result, the Fed is anticipated to reduce interest rates by at least 25 basis points later this month. This will initiate a rate-cutting cycle after raising rates to multi-decade highs of 5.25–5.5% in 2022–2023.

Macro tailwinds thus suggest that this September could break from traditional seasonality and come in more bullish than in prior years.

Include any potential political advantages in the mix. Polymarket has the more ardently pro-crypto Republican Presidential candidate Donald Trump ahead of Democrat nominee Kamala Harris right now.

Enthusiasm towards Kamala Harris appears to be waning following widely criticized policy proposals and an unconvincing CNN interview last week.

And her odds could further wane following a debate with Trump on September 10th.

Its no surprise then that traders are hunting for top crypto performers today that could outperform this month.

Here are some of the top performing names on CoinGecko.

Top Crypto Performers Today – Which Are They?

The top performing cryptocurrency right now is Helium (HNT), a DePIN wireless network alt-coin.

HNT was last up 7.5% in the past 24 hours, per CoinGecko and trading at $7.65.

The crypto is eyeing a retest of the multi-month highs it printed in August at $8.0 per token.

The bulls will be hoping that this opens the door to an eventual retest of yearly highs above $11.

Furthermore, HNT may be powered even higher than this by remarkable advancements in the helium network.

Helium’s carrier offload program is being utilized by major telecom providers; analysts at Messari referred to it as one of the most exciting developments in recent memory.

HNT has plenty of room to grow in this bull market, with a market cap of only about $1.3 billion.

It might therefore be considered one of the greatest cryptocurrencies available right now.

Not to be overlooked are the two other top cryptocurrency performers of the day, Uniswap (UNI) and MANTRA (OM), which are up 4.5% and 6.3%, respectively.

At the time of writing, Uniswap was trading at about $6 and aiming for a retest of its 50DMA, which served as solid resistance in August.

The leading DEX crypto remains down around 65% from its yearly highs above $17.

Thus, investors are still able to purchase the UNI dip. Given that Uniswap is expected to continue to be a major player in the rapidly expanding DEX market, this could be a wise move.

In the meantime, MANTRA (OM) wants to reclaim $1.0 and test its 50DMA, which served as resistance in August as well.

MANTRA’s bull run since late 2023 has been northing short of spectacular.

Last at $0.92, OM is up over 5,000% since its October lows under $0.02.

The purpose of MANTRA’s blockchain is to encourage the integration of real-world assets (RWAs) into cryptocurrency.

Additionally, as more institutions add assets to the chain, the RWA narrative has become stronger than ever in recent years.

Per DeFi Llama, RWAs worth $6.5 billion have already been brought on-chain. This number could grow to trillions in the years ahead.

OM certainly ranks as one of the best RWA coins to invest in right now.

Alternative to Top Crypto Performers Today

Furthermore, in recent years, the RWA narrative has gained more strength than ever as additional institutions add assets to the chain.

Gains of three to five times are even feasible. However, some traders may be seeking a higher chance of profit if they have a higher risk tolerance.

One investment strategy to consider is getting involved in crypto presales.

A presale gives investors the opportunity to enter a project early and at a reduced cost, provided they can identify a high potential project.

Presales are one of the greatest ways to get exposure to 100x potential cryptocurrencies, despite their risk.

Before making a purchase, traders should conduct due diligence and are strongly encouraged to never take on more risk than they can afford to lose.

Here are some of Cryptonews.com favorite presales to invest in right now.

19 Best Crypto Presales to Invest In Now – Upcoming Token Sales

Alternatively, check out the below video where Cryptonews’s in-house presale analyst Chester outlines his top presale picks.

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