Top Crypto to Invest in Right Now August 17 - Arbitrum, Arweave, BNB

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The market outlook stays bearish after Bitcoin slipped beneath the $60,000 mark. Regardless of this downward development in BTC’s value and its impression on cryptocurrencies like Ethereum (ETH), sure altcoins have decoupled from Bitcoin’s affect.

Whereas BTC’s value dropped as little as $58,752.78 up to now 24 hours, a number of altcoins, equivalent to Arbitrum, Arweave, and BNB, have proven resilience, posting beneficial properties and upward momentum. In consequence, traders are actually shifting their consideration to the altcoin market, looking for potential alternatives to put money into promising cryptocurrencies.

Prime Crypto to Spend money on Proper Now

Not too long ago, Arweave launched a brand new protocol referred to as ArFleet, which focuses on non permanent information storage. In the meantime, PlayDoge has gained appreciable consideration within the crypto neighborhood, elevating over $6 million because it approaches the tip of its presale. Moreover, the TON blockchain group has launched a brand new initiative referred to as TON Nest, which goals to assist early-stage tasks inside its ecosystem.

1. Arweave (AR)

Arweave is a decentralized storage community designed to offer a platform for indefinite information storage. One in every of its major options is the “permaweb,” which hosts quite a lot of community-driven purposes and platforms. Not too long ago, Arweave launched a brand new protocol referred to as ArFleet, which focuses on non permanent information storage.

This marks a major shift from Arweave’s conventional strategy, which has been centered on everlasting storage. ArFleet is scheduled to launch on Thursday, August twenty ninth. The occasion will embrace a reside demonstration by its lead developer, AO/ACC, adopted by a Q&A session and neighborhood dialogue within the Arweave Gathering City.

Moreover, the introduction of ArFleet permits Arweave to cater to a special market section. It contrasts with Arweave’s core providing of everlasting storage, showcasing the platform’s flexibility and potential for numerous purposes. This enhances the enchantment of AR and broadens its general utilization.

Introducing ArFleet: Short-term information storage on Arweave.

Arweave is famend for its information permanence. Now it gives time-bound storage, too — opening up new markets and alternatives for $AR and the permaweb.

Launch: 8/29 1100 EST

Testnet entry restricted. Seize your spot 👇 pic.twitter.com/6D7TBTwJMF

— ao (@aoTheComputer) August 16, 2024

The market has responded positively to those developments. AR has seen a 1.51% enhance in worth over the previous 24 hours, now exchanging arms at $21.20, pushing its market cap to $1.3 billion. This efficiency has positioned AR among the many day’s high gainers, indicating rising investor confidence in Arweave’s future.

A number of technical indicators counsel the potential for additional progress, making it a high crypto to put money into proper now. The AR token trades above the 200-day easy shifting common, indicating optimistic momentum. Moreover, the token has proven robust liquidity relative to its market cap, one other indicator of its potential for continued efficiency.

2. BNB (BNB)

BNB not too long ago introduced that Lido has built-in staked ETH with the BNB Chain. This integration permits for the switch of wstETH between Ethereum and BNB Chain utilizing the Native Token Switch (NTT) framework. The motion of wstETH to the BNB Chain enhances liquidity between completely different Blockchain networks.

Furthermore, which means customers can transfer their staked ETH between Ethereum and BNB Chain extra simply, opening up new alternatives for liquidity and DeFi purposes throughout a number of ecosystems. In the meantime, this improvement has sparked elevated curiosity in BNB.

As of the newest information, the token is buying and selling at $530.80, reflecting an intraday enhance of two.70%. It trades 2.78% above its 200-day easy shifting common (SMA) of $516.85. The 14-day Relative Energy Index (RSI) for BNB is at 49.98, indicating that the token is impartial and should expertise sideways buying and selling.

3. PlayDoge (PLAY)

PlayDoge has gained appreciable consideration within the crypto neighborhood, elevating over $6 million because it approaches the tip of its presale. The group has determined to conclude the fundraising on August 26, sooner than deliberate, citing fast progress in creating its cell play-to-earn (P2E) sport. This accelerated timeline has set the stage for an early sport launch.

The joy surrounding the token stems from its distinctive strategy to integrating digital property right into a Tamagotchi-style sport. In contrast to conventional P2E video games, PLAY focuses on offering significant utility for its PLAY tokens throughout the sport surroundings.

Moreover, gamers earn PLAY by caring for his or her digital pets, providing an attractive expertise and a monetary incentive. The platform’s design encourages steady engagement by permitting gamers to spend their PLAY tokens on varied in-game gadgets. This broad vary of makes use of goals to maintain gamers invested within the sport reasonably than focusing solely on cashing out their earnings.

🚨 Vital Announcement 🚨

PlayDoge’s extremely anticipated #Presale ends on Monday, August twenty sixth at 10am UTC! ⏳

Purchase $PLAY in ultimate levels now! 💰 👉 https://t.co/JT0VEofqf2 pic.twitter.com/aWQCHxox0H

— PlayDoge (@PlayDogeGame) August 16, 2024

Because the presale attracts to an in depth, there may be rising anticipation throughout the PlayDoge neighborhood relating to the token declare date, which is able to probably be introduced as soon as the presale concludes. With 9 days left within the presale, the present pricing of PLAY tokens could current a chance for traders earlier than the token turns into publicly tradable.

Go to PlayDoge Presale

4. Toncoin (TON)

The TON blockchain group has launched a brand new initiative referred to as TON Nest to assist early-stage tasks inside its ecosystem. This program is a part of TON Society, a neighborhood of blockchain lovers targeted on increasing the TON community, significantly throughout the Telegram platform.

Introduced on August 16, the TON Society outlined how TON Nest will present builders with alternatives to pitch their tasks, take part in workshops, and compete for rewards. This system can even create a builders-only neighborhood, providing individuals entry to personal and community-exclusive workshops. This initiative is designed to offer early builders the assets and mentorship wanted to efficiently deploy their tasks on the TON community.

Along with TON Nest, TON Ventures has been launched, supported by a $40 million funding from Telegram for its cryptocurrency-related tasks. This new fund, created by senior builders throughout the community, goals to foster the expansion of on-chain purposes throughout the TON ecosystem.

Furthermore, the fund is targeted on smaller tasks and plans to assist bigger strategic initiatives that want steering for integration into the TON blockchain and Telegram. This presents a promising alternative for progress throughout the ecosystem.

Introducing TON Nest, a brand new program by @ton_society for early builders looking for mentorship and assist.

To hitch, you must apply and pitch reside at our occasions or on-line classes. Entry workshops and compete in a leaderboard for rewards.

Apply right here⬇️https://t.co/U6zYzeLpbg pic.twitter.com/is6VZOXOFX

— TON 💎 (@ton_blockchain) August 16, 2024

These efforts goal to extend the mainstream enchantment of Telegram’s purposes, aligning with the messaging app’s vital person progress. Telegram has not too long ago reached over 950 million month-to-month customers, highlighting its increasing affect.

From a market perspective, the TON asset has seen a slight enhance of 0.53% over the previous day, buying and selling close to the $7 mark, in line with CoinMarketCap.

5. Arbitrum (ARB)

The Arbitrum DAO not too long ago voted to implement a staking mechanism for the ARB token, with a notable 91.5% approval charge. This choice goals to strengthen the governance and safety of the Arbitrum protocol.

The proposal, launched by Tally’s head of promoting, Frisson, revealed that solely about 10% of ARB’s circulating provide is at present engaged in governance, and voter participation has been declining because the launch of the Arbitrum DAO.

The brand new staking mechanism is anticipated to incentivize higher participation by permitting ARB holders to delegate their tokens to lively governance individuals. This can allow them to doubtlessly seize worth by their contributions.

Moreover, a liquid-staked model of the ARB token, often called stARB, will likely be launched. This staked token will facilitate the auto-compounding of future rewards and guarantee compatibility with decentralized finance (DeFi) purposes.

Following the announcement of the staking initiative, ARB skilled a modest value enhance of two.04%, bringing its buying and selling worth to $0.5373. The token’s liquidity stays excessive, with a volume-to-market-cap ratio of 0.1243.