As August runs to an end, we examine some of the top crypto to buy this week for huge returns. We consider some heavy hitters such as Bitcoin due to its recent price action and influence in the market. Other bigwigs selected in our roundup include Cardano, RUNE, Telcoin and Binance Coin.
5 Top Crypto To Buy This Week [BTC, BNB, ADA, RUNE, TEL] August 2021 Wk 4
1. Bitcoin (BTC)
Bitcoin is the most recognizable digital asset brand globally and controls more than 45% of the burgeoning crypto industry. Aside from its first-mover advantage, Bitcoin has a major edge over several cryptocurrencies, its deflationary mechanism.
With only 21 million coins ever to be mined and the difficulty level becoming more every passing quarter, Bitcoin has been termed ‘digital gold’ by admirers. It is viewed as a better store of value than long-term commodity gold.
Despite all the fanfare that has accompanied it this year, the benchmark cryptocurrency has seen most of its gains shaved off due to volatility. Hitting an all-time high (ATH) of $65,000 in mid-April, the digital asset lost 50% of its value, dipping to $32,000 after a major market correction.
It continued trading in the $35,000 mark but has since set a new upward trajectory. In the last 48 hours, BTC has surged more than 4% and currently trades at $50,252, up 2.25%. Alongside, it has surged 5.98% as the crypto market looks set on the path to recovery. Bitcoin’s growing adoption makes it a top crypto to buy.
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2. Binance Coin (BNB)
Binance Coin has remained in the top five crypto chart for much of this year, and that has been for a good reason. Initially meant to be a discount token for fee settlement on the Binance crypto exchange, BNB has grown to become much more than originally intended.
BNB plays a crucial role in the Binance ecosystem and is the utility token on the popular decentralized exchange (DEX) platform PancakeSwap. It is also used in the Binance Smart Chain (BSC), which is set up to be a rival to the Ethereum network.
For everyday use, BNB is also used as a payment tool for travel expenses, insurance, credit card payments, entertainment, and collateral for loans.
Price-wise, BNB has had a stellar year increasing more than 800% year-to-date (YTD). It became the third-largest cryptocurrency after hitting a record value of $650 in mid-April. Even though it soon lost 45% in the crypto bloodbath that swept most of the market, BNB has retained much of its value.
In the last 24 hours, BNB has surged more than 8.97% and currently trades at $497.04 after previously hitting $505 in the early hours of today.
With the Binance exchange holding a majority stake in the highly competitive crypto marketplace, BNB will continue to grow, making it a top crypto to buy for the long term.
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3. Cardano (ADA)
Cardano is a peer-reviewed blockchain platform that claims to be the third generation of blockchain technology.
Founded by Hong Kong-based technology company led by former Ethereum co-founder Charles Hoskinson, Cardano is one of the most exciting crypto protocols that investors are keen on investing in.
It uses a proof-of-stake (PoS) blockchain called Ouroboros, which divides validation windows into epochs, cutting down energy consumption and reducing costs. Nevertheless, Cardano is yet to be fully launched, but it is currently the third-largest crypto-asset right after rival platform Ethereum.
The Cardano network has been gradually releasing network upgrades and is set to deploy smart contracts on its network on Sept. 12. This anticipated functionality has lent its utility token ADA much impetus, and it has rallied for much of August since the announcement.
It rallied to $2.14 on Aug. 14 before retesting its record high of $2.30 a few days later. ADA has continued its upward march and is currently pegged at $2.83, up 9.09% in the 24-hour window.
The bullish momentum does not seem to stop anytime soon as ADA hits a 24-hour high of $2.8820 before retracing. The digital asset’s parabolic rise has seen several investors rush to buy ADA and the protocol’s value proposition makes it a top crypto protocol to buy.
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4. ThorChain (RUNE)
ThorChain does not want to improve the blockchain. Instead, it sets out to enable the seamless exchange of one digital asset for another without the owner giving over custody of their crypto holdings.
In essence, ThorChain is a decentralized liquidity protocol that enables atomic swaps of digital assets in a permissionless setting without using an order book. It’s also an automated market maker (AMM) that enables users to access the best prices for token swaps in the blockchain ecosystem.
Unlike several crypto projects, ThorChain does not have an official head and instead is secured by a group of anonymous developers. RUNE serves as the liquidity protocol’s utility token and is used for staking, bonding, and network fees.
The AMM platform has been in the center of heat in the past couple of weeks, but its native token has continued to post good returns for investors.
Following the general market trend, RUNE has surged more than 17.01% in the past 24 hours, hitting a high of $12.42. It currently trades at $12.29, with more potential upside in the coming days.
Looking for a top crypto to buy this week? Look no further than RUNE.
5. Telcoin (TEL)
Telcoin pales in market valuation compared to some of the top crypto to buy this week, we considered in this list. However, what it lacks in volume makes up for in growth. The Telcoin platform is a decentralized finance (DeFi) protocol that seeks to enable easy access to the crypto world.
Leveraging on the widespread use of mobile phones, the Telcoin blockchain wants to tap into an already existing mobile market and enable seamless cross-border remittances, payments, and ecommerce.
This way, the largely unbanked world population will be able to access financial services with the click of a button.
Telcoin is closely working with mobile phone service providers to bring this solution to the market, and its growing popularity has reflected positively on its token price performance. TEL, which powers the Telcoin ecosystem, has surged more than 45,000% from its all-time low (ATL) of $0.00006 on March 2020.
The digital token has had a parabolic rise, rallying to $0.06448 on May 11 before dipping 54.63% following the crypto market crash.
However, it is back to winning ways and has rallied 18.62% in the last 24 hours, trading at $0.02867.
Telcoin is one of the top cryptos to buy for massive returns.