Softer-than-expected US Core PCE inflation data failed to lift the mood in crypto markets on Monday, even though it bolsters the case for a series of Fed interest rate cuts beginning in just a few weeks, with very few top crypto performers of note.
Just In: July US PCE annual inflation rises 2.5%, below expectations for 2.6%.
Core PCE inflation increased 2.6% Y/Y, compared to forecasts for 2.7%.
The Fed has a green light to cut rates by 50BPS in September. pic.twitter.com/Cffytbdv2y— Jesse Cohen (@JesseCohenInv) August 30, 2024
Indeed, Bitcoin (BTC) was last down 4% in 24 hours to $58,000 and Ethereum (ETH) down 4.6% to below $2,450.
That’s according to CoinMarketCap, which shows no cryptos trading in the green in the top 100.
Despite positive macro catalysts, some bulls will be disappointed by the underwhelming price action this week.
GDP data on Thursday was strong, and Wednesday’s Nvidia results indicated a continued boom in AI.
But that has failed to bolster institutional demand for major cryptos.
According to The Block data, Bitcoin ETFs have experienced outflows for two days on the trot.
Ethereum ETFs, meanwhile, also continue to bleed slowly as volumes steadily subside.
So, investors hunting top crypto performers today have had to turn to riskier alt-coins markets.
Here are some top crypto performers today that will be on their radar.
Top Crypto Performers Today – Which Are They?
Overcollaterized stablecoin protocol Keresene (KEROSENE) is up 17% in the past 24 hours, making it one of the top crypto performers today per CoinGecko.
The crypto was last around $0.30, up around 3x this week.
Its market cap remains minuscule at just $27.7 million.
As hype surrounds the protocol’s high yields, KEROSENE could go much higher.
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Of course, it’s a speculative protocol and remains a highly risky coin to invest in. Traders must do their own due diligence.
Elsewhere, Zano (ZANO) is another one of the top crypto performers today, also up around 17%.
The crypto, which powers a confidentiality and security-focused blockchain, was last trading close to $5.70. Its market cap is around $83 million.
The privacy-focused blockchain professes to solve many of the issues traditional tokens face.
Why choose traditional blockchains like $ETH, $SOL, $ARB, and others that expose your data and compromise your privacy putting you at risk?
Security of your assets is critical. Choose $ZANO, the leading blockchain platform designed with confidentiality and privacy at its core. pic.twitter.com/DpuBb7YI2G— Zano (@zano_project) August 30, 2024
Its market cap could go a lot higher if it garners real usage. That could rank it as the best crypto to buy today.
The final name on the top crypto performers today list to mention is a small coin called DFI.money (YFII).
This token is up 9% in the past 24 hours. But potential investors should be very careful.
CoinGecko’s website warns that pump-and-dump activities related to the token might be taking place.
Better Alternative to Consider
The above-mentioned alt-coins are all very high-risk. Even if they aren’t pump-and-dumps, as YFII might be, these coins have high volatility.
That leaves investors at risk of FOMOing in and not doing their due diligence properly.
By contrast, investing in presales is a good way to avoid these issues.
Presales normally run for a few weeks, allowing investors time to properly research a project.
Presales also typically allow investors to get into a project at a discounted price.
That’s why analysts at Cryptonews.com keep a close eye on the presale market.
Here are some of their top picks to check out right now.
20 Best Crypto Presales to Invest In Now
The post Top Crypto Performers Today August 30 – KEROSENE, ZANO, YFII appeared first on Cryptonews.
