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

On Aug 17, 2024

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The market outlook remains bearish after Bitcoin slipped below the $60,000 mark. Despite this downward trend in BTC’s price and its impact on cryptocurrencies like Ethereum (ETH), certain altcoins have decoupled from Bitcoin’s influence.

While BTC’s price dropped as low as $58,752.78 in the past 24 hours, several altcoins, such as Arbitrum, Arweave, and BNB, have shown resilience, posting gains and upward momentum. As a result, investors are now shifting their attention to the altcoin market, seeking potential opportunities to invest in promising cryptocurrencies.

Top Crypto to Invest in Right Now

Recently, Arweave introduced a new protocol called ArFleet, which focuses on temporary data storage. Meanwhile, PlayDoge has gained considerable attention in the crypto community, raising over $6 million as it approaches the end of its presale. Additionally, the TON blockchain team has introduced a new initiative called TON Nest, which aims to support early-stage projects within its ecosystem.

1. Arweave (AR)

Arweave is a decentralized storage network designed to provide a platform for indefinite data storage. One of its main features is the “permaweb,” which hosts a variety of community-driven applications and platforms. Recently, Arweave introduced a new protocol called ArFleet, which focuses on temporary data storage.

This marks a significant shift from Arweave’s traditional approach, which has been centered on permanent storage. ArFleet is scheduled to launch on Thursday, August 29th. The event will include a live demonstration by its lead developer, AO/ACC, followed by a Q&A session and community discussion in the Arweave Gathering Town.

Furthermore, the introduction of ArFleet allows Arweave to cater to a different market segment. It contrasts with Arweave’s core offering of permanent storage, showcasing the platform’s flexibility and potential for diverse applications. This enhances the appeal of AR and broadens its overall usage.

Introducing ArFleet: Temporary data storage on Arweave.
Arweave is renowned for its data permanence. Now it offers time-bound storage, too — opening up new markets and opportunities for $AR and the permaweb.
Launch: 8/29 1100 EST
Testnet access limited. Grab your spot 👇 pic.twitter.com/6D7TBTwJMF
— ao (@aoTheComputer) August 16, 2024

The market has responded positively to these developments. AR has seen a 1.51% increase in value over the past 24 hours, now exchanging hands at $21.20, pushing its market cap to $1.3 billion. This performance has placed AR among the day’s top gainers, indicating growing investor confidence in Arweave’s future.

Several technical indicators suggest the potential for further growth, making it a top crypto to invest in right now. The AR token trades above the 200-day simple moving average, indicating positive momentum. Additionally, the token has shown strong liquidity relative to its market cap, another indicator of its potential for continued performance.

2. BNB (BNB)

BNB recently announced that Lido has integrated staked ETH with the BNB Chain. This integration allows for the transfer of wstETH between Ethereum and BNB Chain using the Native Token Transfer (NTT) framework. The movement of wstETH to the BNB Chain enhances liquidity between different Blockchain networks.

Moreover, this means that users can move their staked ETH between Ethereum and BNB Chain more easily, opening up new opportunities for liquidity and DeFi applications across multiple ecosystems. Meanwhile, this development has sparked increased interest in BNB.

BNB Price Chart

As of the latest data, the token is trading at $530.80, reflecting an intraday increase of 2.70%. It trades 2.78% above its 200-day simple moving average (SMA) of $516.85. The 14-day Relative Strength Index (RSI) for BNB is at 49.98, indicating that the token is neutral and may experience sideways trading.

3. PlayDoge (PLAY)

PlayDoge has gained considerable attention in the crypto community, raising over $6 million as it approaches the end of its presale. The team has decided to conclude the fundraising on August 26, earlier than planned, citing rapid progress in developing its mobile play-to-earn (P2E) game. This accelerated timeline has set the stage for an early game launch.

The excitement surrounding the token stems from its unique approach to integrating digital assets into a Tamagotchi-style game. Unlike traditional P2E games, PLAY focuses on providing meaningful utility for its PLAY tokens within the game environment.

Furthermore, players earn PLAY by caring for their virtual pets, offering an engaging experience and a financial incentive. The platform’s design encourages continuous engagement by allowing players to spend their PLAY tokens on various in-game items. This broad range of uses aims to keep players invested in the game rather than focusing solely on cashing out their earnings.

🚨 Important Announcement 🚨
PlayDoge’s highly anticipated #Presale ends on Monday, August 26th at 10am UTC! ⏳
Buy $PLAY in final stages now! 💰
👉 https://t.co/JT0VEofqf2 pic.twitter.com/aWQCHxox0H
— PlayDoge (@PlayDogeGame) August 16, 2024

As the presale draws to a close, there is growing anticipation within the PlayDoge community regarding the token claim date, which will likely be announced once the presale concludes. With nine days left in the presale, the current pricing of PLAY tokens may present an opportunity for investors before the token becomes publicly tradable.

Visit PlayDoge Presale

4. Toncoin (TON)

The TON blockchain team has introduced a new initiative called TON Nest to support early-stage projects within its ecosystem. This program is part of TON Society, a community of blockchain enthusiasts focused on expanding the TON network, particularly within the Telegram platform.

Announced on August 16, the TON Society outlined how TON Nest will provide developers with opportunities to pitch their projects, participate in workshops, and compete for rewards. The program will also create a builders-only community, offering participants access to private and community-exclusive workshops. This initiative is designed to give early developers the resources and mentorship needed to successfully deploy their projects on the TON network.

TON Price Chart

In addition to TON Nest, TON Ventures has been launched, supported by a $40 million investment from Telegram for its cryptocurrency-related projects. This new fund, created by senior builders within the network, aims to foster the growth of on-chain applications within the TON ecosystem.

Moreover, the fund is focused on smaller projects and plans to support larger strategic initiatives that need guidance for integration into the TON blockchain and Telegram. This presents a promising opportunity for growth within the ecosystem.

Introducing TON Nest, a new program by @ton_society for early builders seeking mentorship and support.
To join, you need to apply and pitch live at our events or online sessions. Access workshops and compete in a leaderboard for rewards.
Apply here⬇️https://t.co/U6zYzeLpbg pic.twitter.com/is6VZOXOFX
— TON 💎 (@ton_blockchain) August 16, 2024

These efforts aim to increase the mainstream appeal of Telegram’s applications, aligning with the messaging app’s significant user growth. Telegram has recently reached over 950 million monthly users, highlighting its expanding influence.

From a market perspective, the TON asset has seen a slight increase of 0.53% over the past day, trading near the $7 mark, according to CoinMarketCap.

5. Arbitrum (ARB)

The Arbitrum DAO recently voted to implement a staking mechanism for the ARB token, with a notable 91.5% approval rate. This decision aims to strengthen the governance and security of the Arbitrum protocol.

The proposal, introduced by Tally’s head of marketing, Frisson, revealed that only about 10% of ARB’s circulating supply is currently engaged in governance, and voter participation has been declining since the launch of the Arbitrum DAO.

The new staking mechanism is expected to incentivize greater participation by allowing ARB holders to delegate their tokens to active governance participants. This will enable them to potentially capture value through their contributions.

ARB Price Chart

Additionally, a liquid-staked version of the ARB token, known as stARB, will be introduced. This staked token will facilitate the auto-compounding of future rewards and ensure compatibility with decentralized finance (DeFi) applications.

Following the announcement of the staking initiative, ARB experienced a modest price increase of 2.04%, bringing its trading value to $0.5373. The token’s liquidity remains high, with a volume-to-market-cap ratio of 0.1243.

PlayDoge (PLAY) – Newest ICO On BNB Chain