Top Altcoins to Watch in August 2024: Ethereum, Solana, Layer AI, and Mantra

Analyst Altcoin Buzz believes that the current bull run is far from over. While it’s uncertain whether August 2024 will reignite the lost spark

Analyst from Altcoin Buzz believes that the current bull run is far from over. While it’s uncertain whether August 2024 will reignite the lost spark, history shows that crypto assets have consistently outperformed other financial instruments over the past 14 years. Even though August has been a mixed month, with seven red months compared to five green ones since 2013, the broader trend remains bullish.

Here’s a list of altcoins to keep an eye on:

Ethereum

Ethereum (ETH) continues to be a heavyweight in the crypto space, and its recent developments make it a must-watch. The launch of Ethereum’s spot ETF in July 2024 was a significant milestone, although it initially triggered a 12% price drop, mirroring Bitcoin’s behavior when its ETF launched. Despite this volatility, Ethereum’s long-term prospects remain strong, with some analysts predicting it could reach $5,000 or more during this bull run. Ethereum’s dominance in the decentralized finance (DeFi) space and its ongoing upgrades keep it firmly in the spotlight.

Solana

Solana (SOL) has been on fire lately, making it one of the most exciting projects to watch. Despite a recent dip, Solana enjoyed a 35% surge over the past month, with its price nearing the $200 mark. Known for its speed and low transaction costs, Solana is positioning itself as a strong competitor to Ethereum. Several factors are driving Solana’s momentum and the potential for Solana spot ETFs in early 2025 is one such catalyst.

Layer AI

LayerAI (LAI) is an emerging player in the AI and decentralized physical infrastructure (DePIN) sectors—two of the most promising crypto narratives in 2024. LayerAI focuses on monetizing user data within AI models, allowing individuals to benefit financially from their data rather than big tech companies. With a new fiat on-ramp for LAI and the upcoming decentralized computing protocol, LayerAI is a project to watch for in the coming months.

Mantra

Mantra (OM) is a standout project in the real-world asset (RWA) space, operating within the Cosmos ecosystem. Mantra is designed to cater to traders and institutions, with a focus on compliance and scalability. The OM token has seen a remarkable 5,000% increase over the past year, with staking options offering up to 35% rewards.

The above is the detailed content of Top Altcoins to Watch in August 2024: Ethereum, Solana, Layer AI, and Mantra. For more information, please follow other related articles on the PHP Chinese website!