Top Crypto to Invest in Right Now August 17 - Arbitrum, Arweave, BNB

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The market outlook stays bearish after Bitcoin slipped under the $60,000 mark. Regardless of this downward pattern in BTC’s worth and its impression on cryptocurrencies like Ethereum (ETH), sure altcoins have decoupled from Bitcoin’s affect.

Whereas BTC’s worth dropped as little as $58,752.78 prior to now 24 hours, a number of altcoins, akin to Arbitrum, Arweave, and BNB, have proven resilience, posting positive factors and upward momentum. In consequence, buyers at the moment are shifting their consideration to the altcoin market, looking for potential alternatives to spend money on promising cryptocurrencies.

Prime Crypto to Spend money on Proper Now

Lately, Arweave launched a brand new protocol known as ArFleet, which focuses on momentary information storage. In the meantime, PlayDoge has gained appreciable consideration within the crypto neighborhood, elevating over $6 million because it approaches the tip of its presale. Moreover, the TON blockchain group has launched a brand new initiative known as TON Nest, which goals to assist early-stage tasks inside its ecosystem.

1. Arweave (AR)

Arweave is a decentralized storage community designed to offer a platform for indefinite information storage. One in all its essential options is the “permaweb,” which hosts a wide range of community-driven functions and platforms. Lately, Arweave launched a brand new protocol known as ArFleet, which focuses on momentary information storage.

This marks a big shift from Arweave’s conventional strategy, which has been centered on everlasting storage. ArFleet is scheduled to launch on Thursday, August twenty ninth. The occasion will embody a dwell demonstration by its lead developer, AO/ACC, adopted by a Q&A session and neighborhood dialogue within the Arweave Gathering City.

Moreover, the introduction of ArFleet permits Arweave to cater to a unique market phase. It contrasts with Arweave’s core providing of everlasting storage, showcasing the platform’s flexibility and potential for various functions. This enhances the enchantment of AR and broadens its general utilization.

Introducing ArFleet: Non permanent information storage on Arweave.

Arweave is famend for its information permanence. Now it affords 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% improve in worth over the previous 24 hours, now exchanging fingers at $21.20, pushing its market cap to $1.3 billion. This efficiency has positioned AR among the many day’s high gainers, indicating rising investor confidence in Arweave’s future.

A number of technical indicators counsel the potential for additional development, making it a high crypto to spend money on proper now. The AR token trades above the 200-day easy shifting common, indicating constructive 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 not too long ago 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, because of this 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 improve of two.70%. It trades 2.78% above its 200-day easy shifting common (SMA) of $516.85. The 14-day Relative Power 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 neighborhood, elevating over $6 million because it approaches the tip of its presale. The group has determined to conclude the fundraising on August 26, sooner than deliberate, citing speedy progress in creating its cellular play-to-earn (P2E) recreation. This accelerated timeline has set the stage for an early recreation launch.

The joy surrounding the token stems from its distinctive strategy to integrating digital belongings right into a Tamagotchi-style recreation. In contrast to conventional P2E video games, PLAY focuses on offering significant utility for its PLAY tokens inside the recreation surroundings.

Moreover, gamers earn PLAY by caring for his or her digital pets, providing an interesting expertise and a monetary incentive. The platform’s design encourages steady engagement by permitting gamers to spend their PLAY tokens on numerous in-game objects. This broad vary of makes use of goals to maintain gamers invested within the recreation 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 phases 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 neighborhood relating to the token declare date, which can seemingly be introduced as soon as the presale concludes. With 9 days left within the presale, the present pricing of PLAY tokens could current a possibility for buyers earlier than the token turns into publicly tradable.

Go to PlayDoge Presale

4. Toncoin (TON)

The TON blockchain group has launched a brand new initiative known as TON Nest to assist early-stage tasks inside its ecosystem. This program is a part of TON Society, a neighborhood of blockchain fanatics 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 tasks, take part in workshops, and compete for rewards. This system may also create a builders-only neighborhood, providing individuals entry to non-public and community-exclusive workshops. This initiative is designed to provide early builders the sources and mentorship wanted to efficiently deploy their tasks 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 tasks. 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 concentrated on smaller tasks and plans to assist bigger strategic initiatives that want steerage for integration into the TON blockchain and Telegram. This presents a promising alternative for development inside the ecosystem.

Introducing TON Nest, a brand new program by @ton_society for early builders looking for mentorship and assist.

To hitch, it is advisable to apply and pitch dwell 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 intention to extend the mainstream enchantment of Telegram’s functions, aligning with the messaging app’s important consumer development. Telegram has not too long ago reached over 950 million month-to-month customers, highlighting its increasing affect.

From a market perspective, the TON asset has seen a slight improve of 0.53% over the previous day, buying and selling close to the $7 mark, in line with CoinMarketCap.

5. Arbitrum (ARB)

The Arbitrum DAO not too long ago voted to implement a staking mechanism for the ARB token, with a notable 91.5% approval fee. This determination 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 presently 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 lively governance individuals. This can allow them to probably seize worth via their contributions.

Moreover, a liquid-staked model of the ARB token, often known as stARB, shall 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 improve 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.