Despite major cryptocurrencies like Bitcoin, Ethereum, and Solana nursing losses, smaller and lesser-known altcoins are gaining traction as traders search for top performers. AIOZ Network, Aave, and Helium are currently the best-performing cryptos in the top 100, with gains of 5%, 3.5%, and roughly flat in the past 24 hours, respectively. Traditional asset markets are providing tailwinds, with the Fed indicating a potential rate cut in September and the Bank of England recently cutting rates for the first time. However, major cryptos are struggling to partake in the rally, possibly due to overhang of supply and geopolitical concerns such as tensions between Iran and Israel.
As US yields reach their lowest levels since early 2024, the market expects a notable cutting cycle from the Fed and higher-than-expected weekly jobless claims add to the narrative. The yield on the US 10-year government bond is below 4%, signaling significant market drivers aligning. Despite this, major cryptocurrencies are not experiencing the same rally, potentially due to supply overhang from various sources. Geopolitical strife, such as concerns about escalation between Iran and Israel, could be another factor weighing on the crypto market. In times of uncertainty, investors typically gravitate towards safe-haven assets rather than risk assets like cryptocurrencies.
While blue-chip cryptocurrencies struggle, investors are turning to higher-risk alternatives that may offer faster gains. AIOZ Network, Aave, and Helium have shown resilience in the past 24 hours and are potential top performers. AIOZ has broken above its 50 and 200-day moving averages, setting the stage for a possible rally to yearly highs around $1.10. Aave, a decentralized lending/borrowing platform, is testing resistance around $115, with a potential 37% rally to yearly highs above $150. Helium, a network leveraging a decentralized global network of wireless hotspot providers, offers a bargain valuation for believers in its long-term vision.
In addition to established altcoins, investors seeking higher risk-reward opportunities may explore crypto presales. This investment strategy allows investors to purchase tokens at early-bird prices, supporting the development of new crypto projects. While presale investing carries inherent risks, it has historically delivered exponential gains to early investors. Cryptonews has identified 16 of the best crypto presales of 2024, offering investors the opportunity to capitalize on high-potential projects. It is essential to note that crypto is a high-risk asset class, and this information is provided for informational purposes only, without constituting investment advice. Investors should be aware of the potential to lose all capital when investing in cryptocurrencies.
