Top Crypto Gainers You Shouldn’t Miss Out This Week

As we step into August 2024, the crypto markets have seen a dynamic interplay of bullish and bearish forces, echoing the past year’s volatility. More recently, the crypto market saw a major correction at the beginning of this month, led by global macroeconomic factors and is yet to recover from that. Despite lingering concerns about extended crypto winters, renewed optimism among investors has mitigated the severity of bearish pressures. Reflecting on the events of 2024 so far, it becomes evident that the market landscape has been shaped by a series of impactful developments.

While the early months of 2024 saw a promising surge that lifted the markets from bearish depths, prolonged consolidation tempered these gains. However, select cryptos distinguished themselves with notable performances, injecting crucial bullish momentum into the market. It’s pertinent to highlight the tokens that have contributed significantly to the ongoing recovery, setting the stage for a potentially bullish trajectory in the remainder of the year. Let’s look at some of the top crypto gainers this week is August 2024. 

ZCash (ZEC)

ZCash (ZEC) has positioned itself prominently among the top crypto gainers this week, attracting a surge of interest from the crypto community. Known for its advanced privacy features and strong security protocols, ZCash price has experienced a notable price increase, making it one of the top crypto gainers this week.

This week’s rise in ZCash price can be attributed to growing concerns over data privacy and the increasing demand for anonymous transactions. This heightened demand has propelled ZCash into the spotlight, highlighting its potential as a top crypto gainer this week.

Moreover, ZCash’s ongoing development efforts and strategic partnerships have further bolstered investor confidence, contributing to its impressive performance. With its commitment to enhancing privacy and security, ZCash (ZEC) continues to attract attention, reinforcing its status as one of the top crypto gainers. Keep an eye on ZCash as it maintains its upward momentum and solidifies its place among the top crypto gainers this week.

ZEC/USD | Source: TradingView

• ZCash is one of the best performers on this list of top crypto gainers this week, thanks to its strong performance, despite the massive correction that happened early in August 2024. 
• While the rest of the market and heavyweights like Bitcoin and Ethereum fell over 15-20% in a matter of days, ZCash price only fell about 9% through the correction phase and has promptly begun to recover. 
• All through July as well, ZCash price has rallied strongly, gaining over 84% from July lows till the end of the previous month.
• On the upside, if ZCash price is able to breach the $35 psychological zone, coinciding with the R1 Fibonacci level for August, then we can see targets of $38 to even $45 if the broader market recovers.
• On the downside, if the market reverses, then we can see ZCash finding support near the $20 zone at the S1 Fibonacci level fo August.

Know More: Top Meme Tokens in 2024

Helium (HNT)

Helium (HNT) has emerged as a standout performer among the top crypto gainers this week, capturing the interest of investors and enthusiasts alike. Helium’s unique approach to decentralized wireless infrastructure has propelled it to the forefront, earning it a spot among the top crypto gainers.

This week, Helium has seen a significant price increase, driven by its expanding network of hotspots and the growing adoption of its IoT-focused solutions. The Helium network’s ability to provide decentralized and secure wireless coverage has resonated with a broad audience, contributing to its impressive performance and making it one of the top crypto gainers this week.

Additionally, strategic partnerships and continuous technological advancements have played a crucial role in boosting Helium’s value. The network’s recent integration with various IoT devices and applications has further validated its utility and potential, solidifying its position as a top crypto gainer.

Investors are particularly excited about Helium’s innovative model, which incentivizes the creation and maintenance of wireless infrastructure. This unique approach not only strengthens the network but also drives demand for HNT tokens, leading to its strong performance among the top crypto gainers this week.

Keep an eye on Helium (HNT) as it continues to gain traction and maintains its upward momentum, reinforcing its status as one of the top crypto gainers this week.

HNT/USD | Source: TradingView

• Similar to ZCash above, Helium has also been one of the better performers amongst the top 100 cryptos by market capitalization in the recent round of correction in the crypto market in August 2024. 
• Helium price has nearly recovered all the losses it had suffered in the past couple of days and is trading at the psychological level of $5. If it can breach past the R1 Fibonacci pivot level at $5.5, then we can see a follow-on rally to $6.2 and eventually to even $7.2 before the end of the month. 
• On the downside, HNT price can find support near the $3.4 region, which aligns with the S1 Fibonacci pivot level for August. 

AAVE

Aave (AAVE) has made a remarkable surge, positioning itself prominently among the top crypto gainers this week. As a leading decentralized finance (DeFi) protocol, Aave has garnered significant attention due to its innovative lending and borrowing platform, which allows users to earn interest on deposits and borrow assets with ease.

This week, Aave’s price has experienced a substantial uptick, fueled by increasing user adoption and the continuous expansion of its ecosystem. The protocol’s recent updates and new feature integrations have enhanced its appeal, contributing to its impressive performance and securing its place among the top crypto gainers this week.

One of the key factors driving Aave’s rise is its commitment to security and transparency, which has earned the trust of the crypto community. The platform’s robust security measures and user-friendly interface have attracted both retail and institutional investors, propelling Aave to new heights and making it one of the top crypto gainers.

Additionally, Aave’s introduction of innovative products, such as flash loans and credit delegation, has further solidified its position in the DeFi space. These advancements have not only broadened Aave’s user base but also increased the utility and demand for AAVE tokens, reinforcing its status among the top crypto gainers this week.

Investors and analysts are closely watching Aave as it continues to innovate and expand its offerings. With its strong fundamentals and growing ecosystem, Aave is well-positioned to maintain its upward trajectory, ensuring its place among the top crypto gainers this week.

AAVE/USD | Source: TradingView

• Trading at the crucial psychological level of $100 – AAVE price is in a very important zone right now, and it is a make ot break zone for AAVE price. The base Fibonacci pivot level for August at around $96 should serve as a good support zone for the altcoin as it makes its way upwards.
• AAVE, like ZCash and Helium above has been a better performer as compared to other altcoins in the overall crypto market and has a strong potential to make a good recovery from its recent lows. 
• If the recovery streak continues, then we can see AAVE price set targets for $117 – which is the highest point achieved in August and if that is also breached, then even $125 can be hit before the end of the month. 

Additional Read: Top Altcoins in 2024

Popcat

This week, after the recent bout of crypto market correction in August, one of the top crypto gainers is Popcat, a memecoin that has taken the crypto community by storm. Inspired by the popular Popcat meme, which features a pixelated cat with a distinctive expression, Popcat has quickly risen in popularity and value. In just hours after its launch, Popcat tokens have shown remarkable growth, capturing the attention of both internet users and investors.

Popcat’s charm lies in its simplicity and humor, which have fueled a frenzy of buying and selling activity. Unlike many cryptos that rely on intricate technology and algorithms, Popcat thrives on its meme-inspired appeal and community engagement. This unique blend sets it apart in a market crowded with various memecoins.

The rapid rise of Popcat among the top crypto gainers this week underscores the powerful role of internet culture and social media in driving market trends. As more investors and enthusiasts join the Popcat frenzy, its influence within the memecoin space continues to grow, making it a standout performer among the top crypto gainers this week.

POPCAT/USD | Source: TradingView

• Popcat, a recently launched memecoin, has quickly risen in popularity among the top Solana memecoins to watch in 2024. As shown in the chart above, this meme coin traded sideways initially and then experienced a significant surge starting from April 15, with gains exceeding 400% in just a few days.
• Popcat price faced a correction towards the end of July and early August but has since embarked on a strong recovery journey, spiking nearly 55% in the past 2 days alone.
• On the upside, if the base Fibonacci pivot level for August at $0.66 is breached, the targets for Popcat price include $0.09 and potentially even $1 before the end of the month.
• With this recent rally, Popcat’s price appears poised to continue its upward momentum after some profit-taking at higher levels. Early buyers and investors are likely to capitalize on their gains, increasing the supply in the open market.
• On the downside, the S2 Fibonacci pivot level near $0.25 is expected to provide support.

Ripple (XRP)

Ripple (XRP) has emerged as another one of the top crypto gainers this week, drawing significant attention from investors and traders alike. Known for its unique approach to facilitating cross-border payments, XRP has seen a substantial price increase, making it a standout performer in the crypto market.

This week, Ripple’s XRP price experienced a surge due to several favorable developments, including positive legal news and increased adoption of its payment solutions. As a result, XRP price has climbed, solidifying its position among the top crypto gainers this week.

Investors are particularly excited about Ripple’s potential to revolutionize international money transfers, which has driven a considerable amount of buying activity. With its robust technology and strong community support, Ripple (XRP) is poised to maintain its upward trajectory, making it a key player to watch among the top crypto gainers.

XRP/USD | Source: TradingView

• Despite Ripple’s extensive adoption and utility, XRP price has consistently lagged behind other major cryptos. However, a significant shift occurred on July 13, 2023, when the US District Court for the Southern District of New York ruled that XRP is not a security, causing its price to surge by 74%.
• Market excitement for XRP is being fueled by speculation about a potential Ripple-SEC settlement. While this remains speculative, market sentiment appears to be leaning in that direction.
• Over the past six months, XRP price has ranged between $0.47 and $0.72, currently hovering just below the higher end of this range. The parallel grey channel depicted in the chart marks a welcome change after a prolonged period of stagnation.
• At the beginning of July, XRP price experienced a correction below its long-term channel, reflecting significant bearish trends consistent with broader crypto market sentiments of that period.
• Recent rumors have driven a substantial rally of over 36% in XRP price since the beginning of July, pushing it past the lower boundary of the channel and positioning it well above $0.6, around $0.64, after reaching a recent high of almost $0.66. But the recent correction in August, has resulted XRP price falling back to the psychological support zone at $0.5.
• For XRP to regain bullish momentum, it needs to breakout above the psychological level of $0.6 and break through the resistance zone near $0.72. Successfully reaching these targets could revive bullish sentiment in the market.

Read On: Top 10 Cryptos in 2024

Conclusion

With the first half of 2024 out of the way, the landscape of the crypto market has witnessed significant movements, with several tokens emerging as top crypto gainers. Each token has contributed to the evolving narrative of the crypto space, from innovative blockchain platforms like ZCash and Helium to transformative protocols such as AAVE and XRP to memecoins like Popcat. 

These top performers exemplify the market’s resilience and adaptability, showcasing the potential for growth and innovation even amidst volatility. As investors navigate the ever-changing landscape of digital assets, staying informed about the latest trends and developments remains paramount. With continued vigilance and strategic insight, participants in the crypto market can position themselves to capitalize on emerging opportunities and navigate the path to success.