This month, numerous crypto assets have shown signs of readiness to recover losses incurred during much of Q2 2024. While some altcoins have successfully rebounded, others weren’t as fortunate by July’s end.
In August 2024, investors will closely monitor which cryptocurrencies demonstrate exceptional performance—and crucially—which ones can achieve new all-time highs (ATH). This analysis highlights 4 top altcoins with that potential.
MANTRA (OM)
If MANTRA’s (OM) staggering 1,956% year-to-date surge is any indication, this security-first Layer-1 blockchain token—focused on real-world asset (RWA) tokenization—could soon become a household name. Over the past 30 days, OM has soared 50.15%, making it July’s top-performing altcoin.
👉 Why MANTRA’s momentum may continue
- Current price: $1.17 (18% below its $1.42 ATH from June 22).
- On-chain data: Institutional whales are accumulating OM, with addresses holding 1M–10M tokens spiking significantly.
- August target: If demand persists, OM could breach $1.42 and approach $2.
Solana (SOL)
Solana recently hit a yearly peak in open interest, while active addresses reached a 3-year high. These metrics suggest SOL could soon surpass its $260 ATH.
- Current price: $183.41 (29.6% below ATH).
- Key catalyst: SOL’s dominance over Ethereum (1 SOL = 0.050 ETH vs. 0.040 ETH in early July).
- Critical level: Breaking $200 could propel SOL toward $260+.
Toncoin (TON)
Despite facing resistance, TON shows bullish momentum with its RSI trending upward.
- Current price: $6.78 (17% below its $8.33 peak).
- Next targets: $7.45 (resistance) → $8.33 (ATH) → higher highs.
👉 Toncoin’s path to new records
Jupiter (JUP)
Jupiter Exchange’s native token JUP could rally if its proposal to reduce supply by 30% passes voting in early August.
- Current price: $1.08 (47% below its $2.04 ATH).
- Potential catalyst: Supply reduction historically boosts token prices.
- ATH target: $2.16 if bullish sentiment holds.
FAQ
Q: Which altcoin has the highest growth potential in August?
A: MANTRA (OM) leads with strong institutional accumulation and a near-ATH price.
Q: Can Solana outperform Ethereum this cycle?
A: SOL’s dominance metrics suggest continued strength against ETH.
Q: What’s the key risk for Toncoin?
A: Failure to break $7.45 resistance could delay its ATH trajectory.
Q: How critical is Jupiter’s supply reduction vote?
A: Approval could trigger a 100%+ rally, mirroring Q1 trends.
Q: Are these altcoins suitable for short-term trading?
A: Volatility is high; monitor on-chain data and vote outcomes closely.
Disclaimer: This content is for informational purposes only. Always conduct independent research before investing.
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