1. STX
Stacks has deployed more than 1,400 smart contracts in the last month, a 30% increase from the previous month. This growth comes ahead of the full launch of the much-anticipated Nakamoto upgrade, which began rolling out on August 28 at Bitcoin block 840,360.
Growing interest in Bitcoin Layer 2 (L2) projects is reflected in venture capital investment, with more than $94.6 million allocated to such projects in the second quarter of 2024 alone.
And Stacks is expected to tap into the estimated $800 billion in potential capital in the Bitcoin ecosystem. This growing ecosystem could greatly expand the utility of BTC beyond its traditional uses.
The Stacks token has also performed extremely well. STX is trading at $1.55 and is up 8.68% over the past week. Over the past year, the token is up 228.48%, outperforming 86% of the top 100 crypto assets. The token is trading above its 200-day simple moving average and showing sustained momentum. For example, it has seen positive growth in 15 of the past 30 trading days. Additionally, its liquidity remains strong compared to its market cap.
2. PEOPLE
Bittensor is a decentralized network that combines blockchain technology with artificial intelligence (AI). The implementation of Proof of Learning (PoL) ensures that nodes contribute reliable AI models while protecting user privacy. Its cross-chain capabilities and native token TAO are designed to expand the decentralized AI ecosystem and promote collaboration within the community.
As of today, Bittensor’s token TAO is priced at $279.37, up 1.56% in the past 24 hours. Over the past year, its value has surged 446.82%, outperforming 92% of the top 100 cryptocurrencies.
Currently, it is trading 127.22% above its 200-day simple moving average, indicating strong upward momentum. Bittensor has had 15 sessions in the green within the past month, showing a positive short-term trend. Forecasts indicate that TAO could rise sharply to $897.19 by October 2024, representing an increase of 227.33%.
3. DONE
As the artificial intelligence (AI) and cryptocurrency industries grow, the collaboration between the two is also deepening. One notable development is the launch of the native FET token (soon to be renamed ASI) on the Cardano blockchain by SingularityNET and the Alliance of Artificial Superintelligence. The move marks a merger between SingularityNET, Fetch.ai, and Ocean Protocol.
The ASI token is priced at $1.3, up 6.41% in the past 24 hours.
Analyzing recent price movements, we observe varying levels of volatility. Prices have seen significant short-term moves over the past 24 hours, with moves over the past week showing a different trend. The Bollinger Bands on the chart show this fluctuation, with wider Bollinger Bands indicating greater price fluctuations.
Over the past week, trading volume has dropped by 39.0%, while circulating supply has increased slightly, by 0.11%. The current circulating supply is 2.52 billion, which is about 95.84% of the maximum supply of 2.63 billion. Fetch.ai or FET has a market cap ranking of 32, with a value of $2.87 billion.
4. TON
Toncoin (TON), a cryptocurrency closely associated with the Telegram platform, has seen a sharp drop in value over the last month, losing more than 20%. The drop came after the arrest of Telegram CEO Pavel Durov.
However, the price of Toncoin has started to recover this week, rising back to around $5. Market analysis suggests that Toncoin could break above $5.5 by the end of the week. If this happens, it could pave the way for a further breakout above $6, making Toncoin an altcoin to watch.
Trading activity has increased significantly, with volumes surging 148% in the past 24 hours. The total value of perpetual futures on TON reached $511.25 million, while spot market trading increased by 115% to a single-day total of $300 million.
Toncoin is trading at $5.29 today, up 1.57% in the past 24 hours. Over the past year, the coin is up 194.17% and is trading 158% above its 200-day simple moving average (SMA) of $2.03, indicating strong performance relative to its historical price. The recent gains and increased trading activity suggest that Toncoin remains a cryptocurrency worth watching, especially as it approaches potential cycle highs.
