The crypto market shows mixed signals, with some altcoins poised for exceptional growth. Here are five altcoins to watch in August 2024: Flow, Conflux, Solana, Starknet, and Axie Infinity.
Points
- Flow （FLOW） is set for a significant network upgrade, potentially driving demand.
- Conflux （CFX） will undergo a major hard fork aimed at improving performance.
- Solana （SOL） remains an institutional favorite with high inflows.
- Starknet （STRK） prepares for an upgrade to increase transaction capacity.
- Axie Infinity （AXS） will launch a new game mode, potentially boosting its price.
As the crypto market exhibited mixed signals in July, August presents several opportunities for altcoin investors. BeInCrypto has identified five tokens to keep an eye on this month: Flow （FLOW）, Conflux （CFX）, Solana （SOL）, Starknet （STRK）, and Axie Infinity （AXS）.
Flow （FLOW）
Flow is set to witness the arrival of the Crescendo Network Upgrade, scheduled for launch on the Testnet on August 14. This upgrade aims to enhance the network’s scalability and decentralization, which could drive demand and bullish sentiment. FLOW is currently trading at
$0.78, and the upcoming upgrade may act as a catalyst for price appreciation if it successfully addresses the network’s scalability issues.
Conflux （CFX）
Conflux is preparing for a significant hard fork named Hydra, set for August 28. This upgrade aims to improve network performance and security. With CFX currently trading at $0.23, the hard fork could attract investor interest and lead to price gains if it enhances the network’s capabilities as intended.
Solana （SOL）
Solana remains a favorite among institutional investors due to its high transaction throughput and low fees. SOL has seen significant capital inflows and currently trades at $164. With the network continuing to attract new projects and partnerships, Solana’s ecosystem is poised for further growth, potentially driving its price higher.
Starknet （STRK）
Starknet is preparing for an upgrade aimed at increasing its transaction capacity. This Layer 2 scaling solution for Ethereum has been gaining traction due to its ability to enhance Ethereum’s scalability. STRK is trading at $2.14, and the upcoming upgrade could further bolster its adoption and price.
Axie Infinity （AXS）
Axie Infinity is set to launch a new game mode, potentially boosting user engagement and the demand for AXS tokens. Currently trading at $7.52, the new game mode could attract new players and investors, leading to an increase in the token’s value.
解説
- Network Upgrades: Upgrades like those planned for Flow and Conflux can significantly enhance network performance, attracting more users and investors. Successful implementations can drive demand for the tokens, leading to potential price increases.
- Institutional Interest: Solana’s popularity among institutional investors highlights the importance of robust infrastructure and scalability. Institutional capital can provide significant support for price stability and growth.
- Layer 2 Solutions: Starknet’s focus on scaling Ethereum underscores the growing need for Layer 2 solutions to address network congestion. Enhancing transaction capacity can improve user experience and drive adoption.
- Gaming Tokens: Axie Infinity’s new game mode illustrates the potential for gaming tokens to boost engagement and demand. Innovations in gameplay can attract new users and investors, impacting token value.
In summary, August 2024 presents several promising opportunities for altcoin investors. Flow, Conflux, Solana, Starknet, and Axie Infinity are poised for potential growth due to upcoming network upgrades, institutional interest, and new product launches. Investors should monitor these developments closely to capitalize on market trends.