As major cryptos recover on Monday following a dip over the weekend to fresh multi-week lows, traders are hunting for top crypto performers today in the alt-coin market that might be able to sustain bullish momentum during September, a typically bearish month for the likes of 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 bulls will be hoping that major US economic data releases this week, including the ISM PMI reports and US jobs data on Friday, will simultaneously support the case for Fed interest rate cuts whilst also easing any concerns that the US economy is on the verge of tilting towards 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.
With inflation having eased substantially this year and the labor market showing cracks, the Fed is expected to cut interest rates by a minimum of 25bps later this month, marking the beginning of a cutting cycle after the Fed hiked interest 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.
Add to the mix potential political tailwinds. Polymarket has the more ardently pro-crypto Republican Presidential candidate Donald Trump ahead of Democrat nominee Kamala Harris right now.
Donald Trump Truth Social 10:53 AM EST 09/01/24 @realDonaldTrump pic.twitter.com/N3VGNZi6LN
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) September 1, 2024
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?
Topping the list of top crypto performers today is a DePIN wireless network alt-coin called Helium (HNT).
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.
And exciting developments in the Helium network could power HNT yet higher than this.
Major telecom providers are tapping into Helium’s carrier offload program, which analysts at Messari called one of the most exciting developments in recent memory.
Understanding Carrier Offloading
In the telecom industry, carrier offloading is something your cellular provider uses to increase service quality and manage costs. When mobile networks experience heavy traffic, operators redirect some of that traffic—such as data, voice, or… pic.twitter.com/ZZzpGGOGbT— Helium
(@helium) August 28, 2024
With a market cap of still only around $1.3 billion, HNT has plenty of room left for growth this bull market.
That’s why it could potentially rank amongst the best cryptos to buy now.
The two other top crypto performers today worth mentioning are Uniswap (UNI) and MANTRA (OM), up 6.3% and 4.5% respectively.
Uniswap was last trading around $6 and eyeing a retest of its 50DMA, which provided strong resistance in August.
The leading DEX crypto remains down around 65% from its yearly highs above $17.
So investors still have the chance to buy the UNI dip. This might be a good idea – Uniswap is likely to remain a leading force in the fast growing DEX sector.
MANTRA (OM), meanwhile, is looking to retake $1.0 and retest its 50DMA, which also acted as resistance in August.
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.
MANTRA’s blockchain is specifically designed to spur the adoption of real-world assets (RWAs) into crypto.
And the RWA narrative has been one of the strongest of recent years, as institutions bring more assets on-chain.
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
The above noted top crypto performers today have big potential for price growth this bull market.
3-5x gains are even possible. That said, some traders with higher a higher risk tolerance might be looking for a better chance of upside.
One investment strategy to consider is getting involved in crypto presales.
If investors can identify a high potential project, a presale offers the chance to get in early at a discount price.
Whilst risky, presales are one of the best ways to gain exposure to 100x potential cryptos.
Traders must do their due diligence before buying, and are strongly advised not to risk more 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.com’s in-house presale analyst Chester outlines his top presale picks.
The post Top Crypto Performers September 2 – Helium, Uniswap, MANTRA appeared first on Cryptonews.
