The Top Cryptocurrencies to Look Out for in September

September was off to quite an incredible start. Bitcoin broke through $50,000 for the first time since the downturn took effect, and several other coins also showed bug gains. All of a sudden, it looked like the bear market might finally be over.

The Top Cryptocurrencies to Look Out for in September

However, events throughout the second week have shown that we might not quite be out of the woods yet. Most of the top coins saw pullbacks again, and investors have had to wait to see how the market would react once more.

Even with swinging momentum, there are several coins whose action will determine how the broader market performs. Let’s take a look at these coins:

Bitcoin (BTC)

As expected, Bitcoin remains the primary cryptocurrency - and the chief entry point for most crypto newbies. The asset continues to enjoy significant attention, even after its price dropped earlier this month.

Last week, El Salvador adopted BItcoin as legal tender. Businesses in the country have also started to accept Bitcoin, although it might take a few months before adoption really ramps up. Despite this, there is a great deal of excitement concerning Bitcoin. Institutional adoption has cooled, but we have everything to be excited about this month.

Ether (ETH)

The silver to Bitcoin’s gold, Ether has come a long way this year. The coin has broken new bounds, and it continues to impress investors. The primary draw for Eheer is the Etheruem blockchain, which is currently in a transition process as it looks to become more scalable.

The blockchain went through its London hard fork last month, and it was largely a success. So, investors would like to see how Ether performs this month too.

Binance Coin (BNB)

The native token for Binance, BNB, has had a bit of a rough patch over the past few weeks. While its price has jumped in tandem with other large coins, BNB is still being affected by the regulatory perceptions of Binance.

From lawsuits to brushes with regulators, Binance has had quite a challenging past few weeks. But, the perception around the industry is that the exchange should be able to turn the corner and get back to full functionality.

Cardno (ADA)

ADA is one of the few cryptocurrencies that have managed to banish the market downturn and notch new highs in the past few weeks. The excitement stems from the Cardano blockchain, which recently implemented smart contracts.

Cardano hopes to be a home to decentralized applications (dApps) with smart contract functionality and hopefully challenge Ethereum. That’s a lofty objective, but Cardano looks to b handling it well.

Solana (SOL)

Solana has really shot to the top of watchlists everywhere. The cryptocurrency made big waves earlier this month as its price continued to rise even with other coin prices dropping. While it retraced and eventually shed some of the gains it made, it is still very much a winner so far.

Interest in SOL has also grown recently, with institutional inflows to the asset reaching record levels. Its performance over the month will show just how ready it is to play with the large-cap coins.

Polkadot (DOT)

Polkadot is a prominent blockchain that has grown as an Ethereum alternative recently. The platform’s token, DOT, has seen its price rise significantly over the year. That has been enough to take it into CoinMarketCap’s top 10 rankings, and a lot of eyes will be on the coin as well.

Recently, Polkadot made big moves into the decentralized finance (DeFi) sector after SubQuery - a data aggregation tool - announced a $9 million fundraising round to improve Polkadot’s integration with Etheruem. This should make it easier to move coins between both chains.

XRP (XRP)

XRP is still the world’s most famous payment-focused cryptocurrency. Despite a case with the Securities and Exchange Commission (SEC), the asset has performed quite well this year - crossing $1 for the first time since 2018.

XRP is especially seeing gains as the case with the SEC is starting to wear off. Many believe it is time to end the legal battle and allow Ripple Labs - the coin’s developers - to continue operating freely. If that happens, XRP should be ready for a big surge.

Algorand (ALGO)

Algorand is one of the lesser-known blockchains in the industry. However, ALGO made waves this month following gains in the second week - the same week where many coins lost part of their value.

Algorand recently launched a Viridis DeFi fund, which would help to spur the adoption of its blockchain. The fund’s performance this month will determine a lot about the asset going forward as well.

Aave (AAVE)

Aave is the largest protocol in the DeFi space. The lending protocol remains well on top, and it has benefited a great deal as the DeFi industry continues to climb back. Like Bitcoin, AAVE says a lot about DeFi and its current state.

So, DeFi enthusiasts would be on the lookout for this coin. If it gains or drops, there is a significant chance that it would take many coins in the DeFi space along with it.

FTX (FTX)

FTX is the native token for FTX - a decentralized exchange and derivatives trading platform. There has been a lot o buzz surrounding FTX recently - the exchange was recently valued at about $18 billion, and it has signed a ton of celebrity endorsements. All things are pretty much looking up right now.

Investors would like to see how the native token for a decentralized exchange performs against those of their centralized counterparts. Naturally, FTX is the top choice.

Yearn Finance (YFI)

Another coin that has been making significant waves in the DeFi space is YFI - the native token for Yearn Finance, a yield farming platform. YFI is especially famous for its incredibly short supply - there are only 30,000 coins available.

This year, YFI’s value climbed as high as $94,000. The coin has been looking to get higher since then, and there is a lot of hope that it will make significant progress in September.

Dogecoin (DOGE)

Dogecoin remains the top meme coin. It doesn’t necessarily have a use case, but its value and profile continue to rise thanks to a legion of adoring fans on the internet.

While DOGE has always been a bit of an afterthought, its rise will point to the general health of the market. If it does rise, it will show that investors are comfortable with putting money into risky assets once more. That’s not a bad place to be.


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