As the cryptocurrency market cap now sits in a range between its peaks and troughs over the past year, numerous investors are actively seeking opportunities within the crypto sector.
Disclosure: This article should not be interpreted as financial advice. The information and materials presented on this page are intended solely for educational purposes.
Explore the top-performing altcoins this week, featuring both high-cap and low-cap options for a comprehensive overview of the market.
Leading 5 Altcoins for September 2024
Initially, we will focus on high-cap options and highlight the top 5 altcoin gainers from the past week. These projects come from the top 100 coins by market cap and feature the most significant price increases observed this week.
Let’s delve into the week’s most notable volume gainers in the crypto landscape!
BinaryX (BNX)
BinaryX serves as a decentralized platform designed for the development and entertainment of blockchain-based games. The native BNX token emerged as the top gainer this week among the top 100 coins based on market cap, experiencing a 34% price surge over the past week.
The project has been expanding its library of games and integrating more sophisticated governance and tokenomics features, all of which have won recent investor confidence.
Fantom (FTM)
Fantom, a Layer-1 dApp network, has achieved a commendable 20.8% increase this week, bolstered by news from Sonic Labs, a significant player in the Fantom ecosystem, which is targeting an $11 trillion lending market following a recent project update. This news has generated considerable support for FTM in the short term, with many investors eager to see its performance in the coming weeks.
Artificial Intelligence Superalliance (FET)
Despite its quirky name that rivals most meme coins, the Artificial Intelligence Superalliance has attracted a surge of investments from crypto enthusiasts over the past week, resulting in a 20% price increase for FET tokens. The project includes notable players from the intersecting fields of AI and blockchain, such as Fetch.ai, which is developing smart city technologies in partnership with the government of Munich.
Sui (SUI)
The SUI token has risen by over 17% this week, likely driven by the announcement of the newly launched SUI trust for accredited investors by Grayscale. SUI was developed by Mystery Labs, a company featuring several former Meta engineers, lending credibility and expertise to the initiative.
Toncoin (TON)
Toncoin (TON), the native token for the Telegram application ecosystem, has also witnessed a 17% rise over the past week. Despite a 13% decline this month, fueled by concerns regarding potential negative trends in the market, there remains optimism as TON has seen a remarkable 277% increase over the past year, supported by a growing user base and new features enhancing its allure.
Low-Cap: Major Altcoin Gainers
In the realm of low-cap altcoins, the gains can be substantially larger. Of course, the associated risks are equally significant! Exercise caution when venturing into this category. While it can be intriguing to identify altcoins that have experienced high volatility, that very volatility often results in losses for retail investors.
When contemplating an investment in any cryptocurrency, and especially those with smaller market caps, users are typically encouraged to conduct thorough research and implement robust risk management strategies.
Euno (EUNO)
The EUNO privacy coin has witnessed an astonishing 233% gain over the past week as investors rush to capitalize on this trending asset. The price movement is particularly puzzling as the official X account of the project has been inactive for nearly a year, and there is a noticeable absence of posts or news explaining the recent price increase.
The market capitalization is very low, even for a small-cap asset, totaling just over $1 million. With its minimal market cap and a lack of clear fundamentals driving the price uplift, a corresponding or greater correction in value could occur suddenly.
Swisscheese (SWCH)
SWCH, the native token of the Swisscheese DeFi platform, has seen its value surge by 133% over the last week. This platform facilitates cryptocurrency swaps as well as other assets like stocks, enhancing its popularity among investors. The token’s recent surge past its 50-day moving average may have further encouraged bullish sentiment from investors.
Catgirl (CATGIRL)
Catgirl crypto has risen by 107% this week, as enthusiasm builds around the emerging meme coin. With a notably small market cap of just $670,000, it represents a high-risk endeavor even for the most adventurous crypto investors.
Due to its diminutive size, the price movements of such projects are highly susceptible to the maneuvers of deep-pocketed traders, and sizable trades in either direction could wreak havoc on CATGIRL’s price and affect its traders significantly.
Ensuring Safety with Altcoins
It’s always captivating to discover which altcoins are performing best this week and to follow the actions of crypto’s largest players. However, high-volume gainers can quickly turn into high-volume losers, particularly with smaller projects.
While searching for promising altcoins, make sure to look beyond just recent price movements, and consider the underlying use case and team behind the project. Relying solely on chasing volume may often lead to traders holding worthless assets.
To learn more about risk management and how to effectively create your own crypto portfolio, refer to our dedicated article on the topic here.
