Top Crypto Performers Today August 30 - KEROSENE, ZANO, YFII
Author Joel Frank Author Joel Frank About Author Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology... Author Profile Share Copied Last updated: August 30, 2024 13:12 EDT
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Softer-than-expected US Core PCE inflation data has failed to lift the mood in crypto markets on Monday, even though it bolsters the case for a series of Fed interest rate cuts beginning in just a few weeks, with very few top crypto performers of note.
🚨Just In: July US PCE annual inflation rises 2.5%, below expectations for 2.6%.
Core PCE inflation increased 2.6% Y/Y, compared to forecasts for 2.7%.
The Fed has a green light to cut rates by 50BPS in September. pic.twitter.com/Cffytbdv2y — Jesse Cohen (@JesseCohenInv) August 30, 2024
Indeed, Bitcoin (BTC) was last down 4% in 24 hours to $58,000 and Ethereum (ETH) down 4.6% to below $2,450.
That’s according to CoinMarketCap, which shows no cryptos trading in the green in the top 100.
Some bulls will be disappointed by the underwhelming price action this week despite positive macro catalysts.
GDP data on Thursday was strong, and Wednesday’s Nvidia results pointed to a continued boom in AI.
But that has failed to bolster institutional demand for major crytpos.
Bitcoin ETFs have experienced outflows two days on the trot, per The Block data.
Ethereum ETFs, meanwhile, also continue to slowly bleed as volumes steadily subside.
So investors hunting top crypto performers today have had to turn to riskier alt-coins markets.
Here are some top crypto performers today that will be on their radar.
Top Crypto Performers Today – Which Are They?
Overcollaterized stablecoin protocol Keresene (KEROSENE) is up 17% in the past 24 hours, making it one of the top crypto performers today per CoinGecko.
The crypto was last around $0.30, up around 3x so far this week.
Its market cap remains minuscule at just $27.7 million.
As hype builds surrounding the protocol’s high yields, KEROSENE could go a lot higher.
The DYAD flywheel is finally here
Step 1: claim a Note NFT
Step 2: deposit wETH or wstETH, mint DYAD and LP
Of course, its a speculative protocol and it remains a highly risky coin to invest in. Trader must do their own due diligence.
The crypto, which powers a confidentiality and security focused blockchain, was last trading close to $5.70, its market cap around $83 million.
The privacy-focused blockchain professes to solve a lot of the issues faced by traditional tokens.
Why choose traditional blockchains like $ETH, $SOL, $ARB, and others that expose your data and compromise your privacy putting you at risk?
Security of your assets is critical. Choose $ZANO, the leading blockchain platform designed with confidentiality and privacy at its core. pic.twitter.com/DpuBb7YI2G — Zano (@zano_project) August 30, 2024
If it garners real usage, its market cap could go a lot higher. That could rank it as the best crypto to buy today.
The final name on the top crypto performers today list to mention is a small coin called DFI.money (YFII).
This token is up 9% in the past 24 hours. But potential investors should be very careful.
There is a warning on CoinGecko’s website that there might be pump-and-dump activities taking place related to the token.
Better Alternative to Consider
The above mentioned alt-coins are all very high risk. Even if they aren’t pump-and-dumps, as YFII might be, these coins have high volatility.
That leaves investors at risk of FOMOing in and not doing their due diligence properly.
By contrast, investing in presales is a good way to avoid these issues.
Presales normally run for a few weeks, allowing investors time to conduct their research on a project properly.
Presales also typically allow investors to get into a project at a discounted price.
That’s why analysts at Cryptonews.com keep a close eye on the presale market.
Here are some of their top picks to check out right now.
20 Best Crypto Presales to Invest In Now
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.