Top Crypto Performers Today August 29 / Source: TradingView
During a day when major cryptocurrencies failed to maintain the seemingly promising rally sparked by positive US economic data and Nvidia results, investors resorted to altcoin markets to find today’s top performing cryptocurrencies.
This is because some smaller altcoins are seeing significant price pumps, while Bitcoin (BTC) has erased the majority of its previous intra-day gains to trade back in the mid-$59,000s, and other major cryptocurrencies have followed suit.
Consider Flare (FLR) as an example. Despite the market’s difficulties, the interoperability/data-focused layer-1 protocol has increased 6.4% over the last 24 hours on Thursday.
That makes it one of the top crypto performers today, per CoinGecko.
On Thursday, FLR was watching for a breakout above its 50DMA at $0.0175 and the resistance zone at $0.018.
If it can break above this level, it may quickly return to the $0.050s, which is the high point for 2024.
FLR may see gains of up to three times, which would make it the greatest cryptocurrency to purchase right now.
The market value of Flare is approximately $750 million. Nevertheless, there have been even greater price pumps for some even smaller tokens.
$300 million market cap Solana DeFi token Metaplex (MPLX) is up 12% in the past 24 hours, per CoinGecko.
Metaplex ████ pic.twitter.com/yqIXluSy9z
— Mack 🦾 (@DegenMack) August 29, 2024
One of the best-performing cryptocurrencies right now, MPLX, broke above its 50 and 200DMAs and entered the $0.30s.
But its eyeing a swift push higher towards recent peaks in the $0.43 region.
LayerZero (ZRO) is the last name on the list of today’s top performers in the cryptocurrency space.
The omnichain interoperability protocol rose over 10% in the past 24 hours, per CoinGecko.
With a little market capitalization of just under $500 million, this project has great potential.
But traders should be cautious, as its fully diluted market cap is over $4 billion.
That is a typical issue with certain altcoins. High token inflation results from their low market cap and fully diluted market cap ratios.
Even if a project is very promising and successful, this can hurt token price growth.
Better Alternative to Top Crypto Performers Today
The top cryptocurrency performers listed above have a great deal of potential. Some may increase by ten times or more from the present levels.
However, there is already a trend with these coins. Most likely, the simplest gains have already been realized.
Those who want to secure gains of at least 50 times on a coin must invest in it before it becomes popular.
Investing presales is one of the best ways to get ahead of the curve.
Of course, presales can be extremely dangerous. So investors must do their due diligence and not risk more than they can afford to lose.