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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 worth and its influence on cryptocurrencies like Ethereum (ETH), sure altcoins have decoupled from Bitcoin’s affect.
Whereas BTC’s worth 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 features and upward momentum. Because of this, traders are actually shifting their consideration to the altcoin market, searching for potential alternatives to put money into promising cryptocurrencies.
Prime Crypto to Put money into Proper Now
Lately, Arweave launched a brand new protocol referred to as ArFleet, which focuses on momentary information storage. In the meantime, PlayDoge has gained appreciable consideration within the crypto group, elevating over $6 million because it approaches the top of its presale. Moreover, the TON blockchain crew has launched a brand new initiative referred to as TON Nest, which goals to help early-stage initiatives inside its ecosystem.
1. Arweave (AR)
Arweave is a decentralized storage community designed to offer a platform for indefinite information storage. Considered one of its fundamental options is the “permaweb,” which hosts a wide range of community-driven functions and platforms. Lately, Arweave launched a brand new protocol referred to as ArFleet, which focuses on momentary information storage.
This marks a big shift from Arweave’s conventional method, which has been centered on everlasting storage. ArFleet is scheduled to launch on Thursday, August twenty ninth. The occasion will embody a reside demonstration by its lead developer, AO/ACC, adopted by a Q&A session and group dialogue within the Arweave Gathering City.
Moreover, the introduction of ArFleet permits Arweave to cater to a distinct market phase. It contrasts with Arweave’s core providing of everlasting storage, showcasing the platform’s flexibility and potential for numerous functions. This enhances the enchantment of AR and broadens its total utilization.
Introducing ArFleet: Non permanent information storage on Arweave.
Arweave is famend for its information permanence. Now it presents 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 prime gainers, indicating rising investor confidence in Arweave’s future.
A number of technical indicators recommend the potential for additional progress, making it a prime 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 lately 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 totally 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 functions throughout a number of ecosystems. In the meantime, this growth has sparked elevated curiosity in BNB.
As of the most recent 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 will expertise sideways buying and selling.
3. PlayDoge (PLAY)
PlayDoge has gained appreciable consideration within the crypto group, elevating over $6 million because it approaches the top of its presale. The crew has determined to conclude the fundraising on August 26, sooner than deliberate, citing fast progress in growing its cellular 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 method to integrating digital belongings right into a Tamagotchi-style sport. Not like conventional P2E video games, PLAY focuses on offering significant utility for its PLAY tokens inside the sport surroundings.
Moreover, gamers earn PLAY by caring for his or her digital pets, providing a fascinating expertise and a monetary incentive. The platform’s design encourages steady engagement by permitting gamers to spend their PLAY tokens on varied in-game objects. This broad vary of makes use of goals to maintain gamers invested within the sport fairly 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 last levels now! 💰 👉 https://t.co/JT0VEofqf2 pic.twitter.com/aWQCHxox0H
— PlayDoge (@PlayDogeGame) August 16, 2024
Because the presale attracts to a detailed, there’s rising anticipation inside the PlayDoge group relating to the token declare date, which is able to possible be introduced as soon as the presale concludes. With 9 days left within the presale, the present pricing of PLAY tokens might current a chance for traders earlier than the token turns into publicly tradable.
Go to PlayDoge Presale
4. Toncoin (TON)
The TON blockchain crew has launched a brand new initiative referred to as TON Nest to help early-stage initiatives inside its ecosystem. This program is a part of TON Society, a group of blockchain lovers centered on increasing the TON community, notably inside the Telegram platform.
Introduced on August 16, the TON Society outlined how TON Nest will present builders with alternatives to pitch their initiatives, take part in workshops, and compete for rewards. This system will even create a builders-only group, providing contributors entry to non-public and community-exclusive workshops. This initiative is designed to offer early builders the assets and mentorship wanted to efficiently deploy their initiatives 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 initiatives. This new fund, created by senior builders inside the community, goals to foster the expansion of on-chain functions inside the TON ecosystem.
Furthermore, the fund is targeted on smaller initiatives and plans to help bigger strategic initiatives that want steerage for integration into the TON blockchain and Telegram. This presents a promising alternative for progress inside the ecosystem.
Introducing TON Nest, a brand new program by @ton_society for early builders searching for mentorship and help.
To hitch, you might want to apply and pitch reside at our occasions or on-line periods. 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 purpose to extend the mainstream enchantment of Telegram’s functions, aligning with the messaging app’s vital consumer progress. Telegram has lately 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 keeping with CoinMarketCap.
5. Arbitrum (ARB)
The Arbitrum DAO lately voted to implement a staking mechanism for the ARB token, with a notable 91.5% approval fee. This resolution 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 predicted to incentivize higher participation by permitting ARB holders to delegate their tokens to energetic governance contributors. This may allow them to doubtlessly seize worth by means of their contributions.
Moreover, a liquid-staked model of the ARB token, referred to as stARB, will likely be launched. This staked token will facilitate the auto-compounding of future rewards and guarantee compatibility with decentralized finance (DeFi) functions.
Following the announcement of the staking initiative, ARB skilled a modest worth 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.
Learn Extra
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