CPI data is out – inflation rose, but less than expected – and has sent stocks higher. The top altcoins could be next to rise, alongside Bitcoin. After the release of CPI data indicating a moderate increase in inflation, stocks have responded positively by moving higher.
This favorable response from the stock market might foreshadow a potential rise in value for the leading altcoins, mirroring the movement of Bitcoin. As investors closely monitor market dynamics, the performance of both established cryptocurrencies and emerging altcoins will be closely observed for potential investment opportunities.
In this comprehensive guide, we aim to explore top crypto options for investment in August 2023 and beyond. Our objective is to identify and evaluate the most interesting cryptocurrencies, emphasizing important factors to recognize opportunities with significant built-in utility.
Bitcoin, introduced in a 2008 whitepaper by the pseudonymous Satoshi Nakamoto, is a decentralized cryptocurrency. It officially launched in January 2009. Functioning as a peer-to-peer online currency, it enables direct transactions among equal network participants without intermediaries.
Nakamoto’s intent was to facilitate direct online payments without relying on financial institutions. Notably, Bitcoin holds the distinction of being the first-ever crypto, fostering a global community and catalyzing a new industry with countless enthusiasts who create, invest in, trade, and integrate cryptocurrencies into their daily lives.
This inaugural cryptocurrency’s impact led to the inception of numerous competing projects, expanding the realm of possibilities. Earlier in 2023, $BTC displayed promising growth, surging 83% in four months, driven by high inflation and the desire for inflation-resistant assets like gold.
The U.S. population currently has $17.1T in household debt, $12.0T in mortgages, $1.6T in auto loans, $1.6T in student loans and $1.0T in credit card debt.
Where does the free cash flow come from to buy #Bitcoin?
— Bitcoin (@Bitcoin) August 9, 2023
However, Bitcoin’s upward trajectory paused and then slowed. Reduced inflation and elevated interest rates prompted a shift from $BTC to treasury bills. Regulatory scrutiny unsettled institutional investors, prompting them to decrease digital asset holdings. Take a look at our detailed guide that provides step-by-step instructions on how to buy Bitcoin here.
Currently, Bitcoin’s Fear and Greed Index stands at 51, signaling market neutrality. As the year 2023 draws to a close, indications point toward Bitcoin’s price finding stability around a support level, potentially hovering near $21,500. This threshold is poised to act as a springboard for Bitcoin’s measured resurgence throughout the course of 2024.
Find the comprehensive overview of August’s top altcoins to invest in within the video above. For more crypto-related insights, consider subscribing to his YouTube channel. Furthermore, Jacob Crypto Bury administers a Discord community boasting 15,000 members, providing trading guidance and insights into upcoming crypto presales.
XDC Network (XDC)
XDC Network (XDC), previously known as XinFin Network, is a hybrid blockchain platform blending public and private features. It combines public blockchain transparency with private network security and speed. By utilizing blockchain technology and advanced infrastructure, the project aims to deliver efficient financial services.
Operating on an open-source protocol with a delegated-Proof-of-Stake (XDPoS) consensus mechanism, it enables rapid transactions, cybersecurity, and interoperability. With a capacity of 2000 transactions per second (TPS), interoperable smart contracts, and Ethereum Virtual Machine (EVM) compatibility, project scaling becomes more accessible.
This EVM-compatible layer 1 blockchain aligns with the global payment messaging standard, ISO 20022, offering a convenient foundation for developers and financial institutions to build applications. The platform introduces the XDCPay app, simplifying user experiences for investors and businesses.
Addressing past blockchain limitations, XDC tackles low bandwidth, high fees, and developer challenges. Supporting smart contracts and layer 2 digital assets, it leverages sharding to process over 2000 transactions per second.
XDC Network, an open-source hybrid blockchain, facilitates global trade and finance by seamlessly interacting with both public and private blockchains, utilizing hybrid relay bridges for transaction retransmission into the public network. The XDC token faced a challenging start, launching at $0.002 in April 2018 and maintaining stability for years.
It surged to $0.14 in February 2021 after bridging to Corda Network, becoming Corda’s main value token. On July 4, it neared this high, hitting $0.12 before reaching an all-time peak of $0.19 on August 21. $XDC joined TFD initiative for trade asset industry improvement.
Amid market crashes, it plummeted to $0.022 on June 30, with partial recoveries in July and August. A drop followed the FTX exchange collapse, with a December low of $0.0203. Bullish predictions forecasted $0.15 in the next year, $0.27 in 2025, and a 2030 $XDC network prediction of potentially $1.11.
XRP20 (XRP20) intersects with various respected market trends. It’s a byproduct of the successful Ripple (XRP) token, currently making waves due to its SEC win. This led to a price rise to about $0.70 and preparations for relisting on major exchanges. However, $XRP20 goes beyond benefiting from this trend; it offers more than the original.
It aims to create a movement of inclusive retail investors seeking financial success, in contrast to Ripple’s initial exclusivity. The presale serves to establish a strong, involved XRP20 community, open to all. $XRP20 selling at $0.000092, notably cheaper than XRP’s lowest and its current price.
🎉 Milestone Alert! 🎉
We’ve hit an incredible mark in our journey – over $1,850,000 raised! 🚀
Thank you to our passionate community for helping us reach our Soft Cap. The future is bright for #XRP20! 💡
— XRP20 (@XRP_20) August 10, 2023
This “second coming of Ripple,” per the founders, provides another early-stage investment opportunity, capitalizing on missed chances with major cryptos. Aside from community-building and thematic success, XRP20 staking benefits retail investors, a feature missing in the original.
Purchasing $XRP20 at its lowest price and staking for passive income is its appeal. The smart contract, with a deflationary feature burning 0.1% of each transaction and reserving 10% of supply for burning, offers dual benefits of currency staking rewards and potential token value increase through burning.
Chainlink (LINK) emerged in 2017 as a blockchain abstraction layer, fostering interconnected smart contracts globally. Serving as a decentralized oracle network, Chainlink facilitates secure interactions between blockchains and external data feeds, events, and payments.
This empowers intricate smart contracts to access essential off-chain data, positioning them as primary digital agreements. Anchored by a strong open-source community encompassing data suppliers, node managers, developers, and auditors, Chainlink prioritizes decentralized involvement and network expansion.
Its ICO in late 2017 started at $0.11, and $LINK’s value surged notably during the 2020 cryptocurrency boom, reaching an all-time high of $52.88 on May 10, 2021, currently trading at $7.62.
The platform’s dependable services and competitive edge have led to a substantial rise in market capitalization to $4 billion, securing billions of dollars’ worth of decentralized applications (DApps) within just over three years.
Wall Street Memes (WSM)
Wall St Bulls, a well-known Ethereum NFT collection, recently revealed their own cryptocurrency, Wall Street Memes (WSM). Following their swift NFT sellout in 2021, which took only 30 minutes, the team has stayed current with crypto trends, even launching Bitcoin Ordinals NFTs.
They’re now crafting their meme coin, a standout performer in recent times. With a vibrant community of 1.1 million members on popular social platforms, the official $WSM presale ranks among 2023’s fastest. It raised over $22 million in nine weeks, nearly reaching the $30.4 hard cap.
— Wall Street Memes (@wallstmemes) August 10, 2023
Post-presale, $WSM tokens will hit major CEX/DEX platforms, likely yielding substantial profits for holders. The platform will circulate 2 billion tokens, with half available in the presale, 30% for community rewards, and 20% for liquidity. Notably, there’s no team allocation, ensuring investors are safeguarded from rug pulls.
To celebrate the $WSM presale launch, a $50k airdrop is running, accessible to holders who join the social media channels, including Discord. Learn from our guide, which provides detailed instructions on how to buy WSM tokens here.
Crypto offer unique advantages, including potential for high returns, accessibility, and decentralized nature, making them a compelling choice for investment-minded individuals. The advanced technology that underpins crypto, including blockchain, holds the potential to upend traditional industries and bring about profound transformations across various sectors.
As the world becomes increasingly digitized, cryptocurrencies could play a pivotal role in shaping the financial landscape. As with any investment, careful research, due diligence, and a long-term perspective are crucial to maximizing the benefits of investing in the dynamic world of cryptocurrencies.
To purchase crypto, we suggest using eToro, a secure and regulated crypto exchange. With eToro, you can engage in buying and selling of over 75 leading cryptocurrencies, such as Bitcoin, Chainlink, Ripple, and more. The platform facilitates seamless exchanges between Bitcoin and other coins, broadening your crypto horizons.
eToro stands as a multi-asset platform, offering an array of financial tools, suitable for a range of traders and investors seeking diversification. Its stringent regulatory framework ensures a safe trading environment, enhancing your security while trading.
- Get Educational Courses & Tutorials
- Free Content & VIP Group
- Jacob Crypto Bury Market Analysis Videos
- Leverage Trading Signals on Bybit
- Next 10x Altcoin Gems
- Upcoming Presales & ICOs