Top Crypto to Invest in Right Now August 17 &#8211; Arbitrum, Arweave, BNB

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

Whereas BTC’s value dropped as little as $58,752.78 up to now 24 hours, a number of altcoins, akin to Arbitrum, Arweave, and BNB, have proven resilience, posting beneficial properties and upward momentum. In consequence, traders are actually shifting their consideration to the altcoin market, in search of potential alternatives to spend money on promising cryptocurrencies.

Prime Crypto to Spend money on Proper Now

Not too long ago, Arweave launched a brand new protocol referred to as ArFleet, which focuses on non permanent knowledge storage. In the meantime, PlayDoge has gained appreciable consideration within the crypto neighborhood, elevating over $6 million because it approaches the top of its presale. Moreover, the TON blockchain staff 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 knowledge storage. Considered one of its principal options is the “permaweb,” which hosts a wide range of community-driven functions and platforms. Not too long ago, Arweave launched a brand new protocol referred to as ArFleet, which focuses on non permanent knowledge storage.

This marks a major 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 section. It contrasts with Arweave’s core providing of everlasting storage, showcasing the platform’s flexibility and potential for numerous functions. This enhances the attraction of AR and broadens its total utilization.

Introducing ArFleet: Non permanent knowledge storage on Arweave.

Arweave is famend for its knowledge permanence. Now it provides 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 palms 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 recommend the potential for additional progress, making it a high crypto to spend money on proper now. The AR token trades above the 200-day easy transferring 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 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 completely different Blockchain networks.

Furthermore, which means that 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 newest knowledge, 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 transferring 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 should 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 top of its presale. The staff has determined to conclude the fundraising on August 26, sooner than deliberate, citing speedy progress in growing its cell play-to-earn (P2E) sport. This accelerated timeline has set the stage for an early sport launch.

The thrill surrounding the token stems from its distinctive strategy to integrating digital belongings right into a Tamagotchi-style sport. In contrast to conventional P2E video games, PLAY focuses on offering significant utility for its PLAY tokens throughout 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 gadgets. This broad vary of makes use of goals to maintain gamers invested within the sport relatively than focusing solely on cashing out their earnings.

🚨 Essential Announcement 🚨

PlayDoge’s extremely anticipated #Presale ends on Monday, August twenty sixth at 10am UTC! ⏳

Purchase $PLAY in closing levels now! 💰 👉 https://t.co/JT0VEofqf2 pic.twitter.com/aWQCHxox0H

— PlayDoge (@PlayDogeGame) August 16, 2024

Because the presale attracts to an in depth, there may be rising anticipation throughout the PlayDoge neighborhood concerning 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 could current a chance for traders earlier than the token turns into publicly tradable.

Go to PlayDoge Presale

4. Toncoin (TON)

The TON blockchain staff 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 neighborhood of blockchain fanatics centered on increasing the TON community, significantly throughout 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 neighborhood, providing members entry to personal and community-exclusive workshops. This initiative is designed to present 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 throughout the community, goals to foster the expansion of on-chain functions throughout the TON ecosystem.

Furthermore, the fund is concentrated on smaller initiatives and plans to help bigger strategic initiatives that want steering for integration into the TON blockchain and Telegram. This presents a promising alternative for progress throughout the ecosystem.

Introducing TON Nest, a brand new program by @ton_society for early builders in search of mentorship and help.

To affix, it is advisable to apply and pitch dwell at our occasions or on-line classes. 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 goal to extend the mainstream attraction of Telegram’s functions, aligning with the messaging app’s vital consumer progress. 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 enhance 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 price. 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 anticipated to incentivize higher participation by permitting ARB holders to delegate their tokens to energetic governance members. This may allow them to probably seize worth via 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 value 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.