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This week has seen several cryptocurrencies climb up on the trading chart as another bullish flag correction is formed. The ATOM token of the Cosmos blockchain is one of the best performers in the last 24 hours. Knowing bull runs can be snipped at any point, this article examines the Cosmos project and examines whether the time is right to buy ATOM and hold.Cosmos: Internet Of Blockchains

Fondly called the “Internet of blockchains,” the Cosmos network aims to connect crypto networks through open-source tools. Cosmos’ priority is to achieve interoperability between projects in the crypto industry. This enables them to share data and tokens easily, with no central party facilitating the activity.

The Cosmos network consists of many independent, parallel blockchains, called zones. Each zone is powered by Tendermint, the classical Byzantine fault-tolerant (BFT) consensus protocol.

The foundation of the Cosmos blockchain, also called the distributed ledger, is the Cosmos Hub. The ATOM token is the utility token of the Cosmos blockchain. The crypto can be used to pay fees, as a staking token, and as a voting mechanism in governance. Token holders can bond with ATOM to earn block rewards.

Cosmos was launched in 2019 after its initial coin offering (ICO). Founders include Jae Kwon, Zarko Milosevic, and Ethan Buchman, who are also the co-founders of Tendermint.

The ATOM token started the year trading at just $5.868 before reaching an all-time high price of $32.14 in May this year. However, the crypto crash caused the asset to decline to $11.74 by the end of May.

ATOM continued to drop and traded for $8.97 on June 22, 2021. But this changed towards the end of July. The virtual asset reached a price of $12.61 on July 31, and this positive momentum has spilled over into August. Ranked 41st by market cap, ATOM is currently trading at $24.93, marking a 23.9% increase in the last 24 hours. The token is still cheap and the recent jump in price is a good signal for interested investors to buy ATOM.

Cosmos’ price is looking healthy on the trading chart. The governance token is trading above the 20-day and 200-day moving average (MA) support price at $18.99 and $17.45, respectively.

The relative strength index (RSI) currently trades at the overbought region of 72.15, which indicates that many investors are in the market to buy ATOM.

This is confirmed by the crypto forecast website Wallet Investor, which believes that ATOM would go up and trade at $32.490 in one year. According to the prediction site, ATOM is expected to trade at $81.339 in five years.

This month has seen the growing adoption of the Cosmos Project as several decentralized finance (DeFi) protocols have launched on the network.

The positive momentum for the Cosmos project is attributed to the recent unveiling of the Gravity DEX (decentralized exchange) upgrade last month. The Gravity DEX is an online marketplace for trading tokens from any connected blockchain, reinforcing Cosmos’ vision of bringing together multiple interconnected blockchains.

The first-ever protocol to be introduced on the Gravity DEX called Emeris launched this month, enabling users to start experiencing the DEX. The launch of Emeris introduced cross-chain exchange capabilities to the members of the Cosmos community and led to a spike in demand for the ATOM token.

Users can access many cross-chain DeFi protocols on the Cosmos network through the new interface, thereby opening up opportunities.

Another important development that occurred recently on the Cosmos blockchain is the integration of Omni- chain DEX Sifchain with the Inter-blockchain communication (IBC).

This integration would help connect and enable trades between the Cosmos ecosystem and the Ethereum network.

As part of Cosmos’s vision to bring interoperability among different networks, the platform partnered with Interlay. The partnership would make it possible to bring Bitcoin to all DeFi chains, thereby making it possible for users to invest, earn and pay using their Bitcoin anywhere.

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The head of the cryptocurrency outlet Coin Bureau says that Cosmos Network (ATOM) could be the most important digital asset on the market.

The pseudonymous analyst, who goes by the name Guy, tells his 1.3 million YouTube subscribers that the crypto network is invaluable because it allows different blockchains to communicate in a decentralized fashion.

Cosmos Network finalized its inter-blockchain communication (IBC) protocol in March, which allows different cryptocurrency platforms to trade and transfer tokens with each other.

Guy says that this function makes ATOM a game-changer for the industry.

“Cosmos is probably one of the most, if not the most, important cryptocurrency projects out there. This is simply because, without widespread interoperability, cryptocurrency is doomed to fail.

With the completion of the IBC, Cosmos has cemented itself as the leader in a niche that almost no other cryptocurrencies are competing in.”

Guy says the altcoin is also in line to see a 200% surge in price.

“In terms of how high ATOM could go, I’ll start by saying that I will be very surprised if it doesn’t hit at least $100.

This is simply because Cosmos’s fundamentals continue to hit all-time highs, with additional blockchains connecting to its hub almost every other week.

This has not yet been fully reflected in ATOM’s price, nor its market cap which is [still] minuscule.”

ATOM is trading at $34.61 at time of writing, according to CoinGecko.

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Altcoin Daily host Austin Arnold is breaking down five altcoins that he thinks have growth potential in September.

In a new video on his popular YouTube channel, Arnold tells his 945,000 subscribers that he’s keeping an eye on the fundamental strength of Tezos (XTZ), VeChain (VET), Ethereum (ETH), Cosmos (ATOM), and Cardano (ADA).

Launched in 2018, Tezos is a smart contract platform that allows its users to actively participate in network governance by holding XTZ tokens. Arnold highlights XTZ’s adoption among several Swiss-based blockchain and financial companies, including Crypto Finance Group, InCore Bank, and Inacta.

In a joint statement, the three Swiss companies said that they chose to adopt Tezos “because its on-chain governance allows upgrades without disrupting or splitting the network.”

Arnold believes these financial companies are utilizing Tezos to create a particular niche.

“So it seems they’re carving out their own little niche – a Tezos token standard to specifically work with those financial bodies and institutions that need some sort of compliance.”

Next up is the blockchain-powered supply chain platform VeChain. Arnold notes that the blockchain has committed $1 million toward funding the development of its own enterprise non-fungible token (eNFT) marketplace, establishing the blockchain’s stake in the future of NFTs.

“As a key player in the real business world, enterprises will be the main driving force behind the mass adoption of NFT technologies and as such, the best way to facilitate this adoption is to develop and support a vibrant eNFT ecosystem using the VeChainThor platform.”

Arnold is also looking at the second-largest crypto asset, Ethereum (ETH). Six crypto entities, including crypto exchange Kraken and decentralized finance (DeFi) protocols Uniswap, The Graph, Compound, Lido and Synthetix, have each donated $250,000 for a combined $1.5 million to support efforts toward Ethereum’s upcoming “Ethereum 2.0” upgrade, which will move the Ethereum network from a proof-of-work model to proof of stake.

“And why this matters to you is because this is showing us that the entire crypto ecosystem, or at least many, many key players, are donating money and resources to support the success of this major ETH upgrade.”

Arnold says history and trust are still on Ethereum’s side as he highlights that major financial giant Visa recently purchased its very own CryptoPunk NFT last week.

The crypto trader’s fourth pick is the decentralized interoperability network Cosmos. He says that Bitcoin (BTC) is coming to the Cosmos network using interBTC, a DeFi platform that enables Bitcoin users to invest, earn and pay with their BTC on any blockchain. The Cosmos network’s latest grant by Interchain Foundation (ICF) to Interlay, the creator of interBTC, marks the first step in this transition, according to Arnold.

“And just for some perspective, Bitcoin on Cosmos will bring deep liquidity to the Cosmos ecosystem and greatly increase the utility and scope of Cosmos DeFi. Don’t count Cosmos out.”

Finally, Arnold covers the smart contract platform Cardano. He believes that the network’s prominent community will grow even more following Japan’s official announcement that Cardano would be listed in the East Asian country on August 25th after the asset successfully passed strict regulatory checks.

Arnold also highlights Cardano’s relatively low transaction fees and level of adoption in comparison to BTC and ETH.

“First off, while Cardano obviously has a much lower market cap than [Bitcoin and Ethereum], it’s actual real on-chain volume [is] pretty similar to the other two. That’s a good sign…

Notice how the fees on Cardano [are] much, much lower in comparison. This is $52,000 (ADA) compared to $22 million (ETH). Significant. Something to note.”

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A popular crypto trader is eyeing three altcoins that could mimic Solana’s recent historic rise.

Solana (SOL) has climbed to the sixth-ranked cryptocurrency, according to CoinGecko. Currently trading at $175, the smart contract platform is up more than 600% from its July low of $23.47.

Crypto trader and market analyst Michaël van de Poppe is keeping close tabs on decentralized blockchain platforms Tezos (XTZ), Polkadot (DOT), and Cosmos (ATOM) after SOL’s breakout to a new all-time high.

He tells his 123,000 YouTube subscribers ATOM looks ready to run based on its underlying market structure.

“If I would have to choose a coin that’s going to follow Solana and it has to be a layer-one solution, it’d either be Tezos, Polkadot, or it’s going to be Cosmos, and given the structure, it looks amazing.”

Van de Poppe says that ATOM is trading within a two-year accumulation period against Bitcoin and that he’s looking for a retest of the 0.00051 BTC level ($22.88) after the token began trading in an uptrend against BTC in August.

As for where ATOM is headed next, Van de Poppe is paying attention to two key price levels.

“Nice retest off the ($17.47) level, regained everything that it lost in the crash a few days ago, and I think that we’re going to continue moving and we’re going to break the highs through which the next target zone I am looking at for Cosmos is $47.50 and $72.”

At the time of writing, ATOM is trading at $26.98, according to CoinGecko.

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A closely followed crypto trader and strategist predicts that one explosive altcoin is poised to go parabolic even after doubling its value in just 11 days.

The pseudonymous trader known as Pentoshi tells his 277,000 followers that he’s expecting Cosmos (ATOM) to go on a steep ascent after taking out its previous all-time high at around $32.

“Probably going to do a pretty wild run in the weeks ahead and bears are going to have a tough time on this one. Going to go parabolic by the looks of it.”

CoinGecko shows that the project, which is touted as the “internet of blockchains,” has meteorically risen from $20.44 on September 9th to over $44 on September 20th, marking a 115% move in less than two weeks.

Looking at Cosmos against Bitcoin (ATOM/BTC), Pentoshi says the pair is primed to ignite a 48% surge from its current value of 0.00087, worth about $40 at time of writing.

“Breaking out of a multi-year range on the BTC pair and price discovery starting on the USD pair.”

As for Bitcoin, the crypto trader predicts that the leading cryptocurrency is gearing up for a move to $56,000 as it prints a bullish higher low setup near $46,000.

“Thoughts BTC.

Price likely has made a higher low and put in a higher high at $53,000 on the 1-day trend. If you actually pay attention, institutional interest is accelerating… Markets structure reset and started a new trend.”

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A prominent crypto strategist and trader says that he sees one emerging altcoin following the explosive price action of smart contract platform Solana.

Pseudonymous trader Inmortal tells his 66,600 Twitter followers that he’s looking at Cosmos (ATOM), a project that aims to help developers build different blockchains that can transact and exchange data, creating a decentralized internet of blockchains. According to the crypto analyst, Atom will be the next Solana (SOL), a crypto asset that has meteorically risen nearly 350% in the last 30 days, according to CoinGecko.

“FOMO (fear of missing out) will start soon. ATOM.”

The crypto analyst is also looking at Cosmos in its Bitcoin pair (ATOM/BTC). According to Inmortal, ATOM/BTC must flip 0.00055 ($25) resistance into support to ignite a parabolic rise in value.

“One of the biggest accumulation ranges in ALT/BTC pairs, (+800 days). When ATOM finally flips this KEY level, I think we’ll see some fireworks.”

Should ATOM/BTC follow Inmortal’s script, the pair could rise to as high as 0.002 BTC ($91.14), which represents a potential upside of over 230% from its current price of 0.0006 BTC or $27.34.

Inmortal is also keeping a close watch on the price action of Ethereum (ETH). The crypto analyst believes ETH’s move below $3,400 is an opportunity to buy the dip.

“I’m seeing an opportunity here. Stop hunt + strong bounce at KEY level. I’ll buy any dips below $3,400, targeting $3,800 (Breakdown Point) for now.” 

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The Ethereum Classic price has been on a bumpy ride for the past few days. The ETC token has declined nearly 20% since the start of September. It is also moving more than 68% below its highest level this year in May. Ethereum Classic has a total market capitalization of $7.4 billion. The coin ranks as the 27th most valued digital asset in the world, sandwiched between  Vechain and Cosmos.

Cryptocurrency Sell-off

The overall crypto market has been under intense pressure for the past few days. However, on Wednesday, the crypto market was showing signs of recovery. According to data by CoinMarketCap, the global crypto market capitalization currently stands 2.25% higher at $2.13 trillion, up from $2.09 trillion in the previous day.

Bitcoin has been struggling to bounce back to the $50,000 level. However, its failure to surpass that critical level has dampened the general cryptocurrency market. The world’s leading digital asset has been among the worst-performing cryptocurrencies along with Ethereum. However, earlier today, the coins were hinting at a positive momentum.

The total volume of Ethereum Classic traded in the last 24 hours has slipped more than 22% to $807 million. This is an indication that most buyers are opting out of their trades to join better-performing coins. Therefore, this is certainly weighing on the Ethereum Classic price. Among the high-yielding coins in the market include Polkadot, Terra, Avalanche, Cosmos, Tezos, Elrond, among others.

Ethereum Classic Price Outlook

The four-hour chart indicates that the Ethereum Classic price has been under intense pressure for the past few days. At the time of writing, the ETC coin was trading at $57.33 after hitting an intraday low of $56.28.

The virtual coin is moving below the 50-day and 100-day moving averages, which is usually a bearish indicator. Its Relative Strength Index (RSI) has been moving higher and is steady at 51.

Therefore, the ETC price will likely face a minor retracement before bouncing back. The bulls need to gather enough momentum to push the price past the key resistance level at $60.

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The crypto market is witnessing a classic sector rotation in the wake of programmable blockchain Solana’s outage.

For the first time in several weeks, such decentralized finance (DeFi) tokens as AAVE, chainlink a and UNI are leading bitcoin and the broader market higher with double-digit percentage gains on a 24-hour basis. Meanwhile, native tokens of the so-called Ethereum alternatives like Algorand, Avalanche, Cosmos and Solana are nursing 5-7% losses, according to data source Messari.

“After the phenomenal rally of solana and being discovered by many people as a strong contender to long-term rival for Ethereum due to its cheap gas fee and smart contracts protocols, it’s time for a reset and bitcoin has regained focus,” Laurent Ksiss, managing director of exchange-traded products at 21Shares, told CoinDesk in a Telegram chat. “It’s clear that Solana’s technical glitches on Monday caught many by surprise, and, as a result, may have tainted its rally and premise.”

“Solana and Arbitrum’s outage was bad optics for Ethereum alternatives in general,” crypto research firm Jarvis Labs said. “What we are seeing now in the market is the rotation of money between ecosystems.”

On Tuesday, Solana’s high-speed blockchain suffered downtime as “resource exhaustion” on the network brought blockchain validation to an hours-long halt. As such, activity across Solana’s multibillion-dollar DeFi and non-fungible tokens ecosystem came to a grinding halt.

Recently launched Arbitrum, which scales Ethereum by leveraging Optimistic rollups technology to increase transaction speed and lower fees, was also knocked offline. These events drew the ire of the crypto industry bigwigs.

“Events of today in crypto just go to show that genuine decentralization and well-designed security [like Ethereum] make a far more valuable proposition than some big transaction throughput [speed] numbers coming from an exclusive and closed set of servers,” Gavin Wood, computer scientist and founder of Founded Polkadot, Kusama, Ethereum, Parity, Web3 Foundation, tweeted Tuesday.” If you can’t run a full-node yourself, then it’s just another bank.”

Solana’s SOL token chalked up more than a fourfold rally to over $200 in the three weeks to Sept. 9 as the NFT boom and high transaction fees on Ethereum drove investors to relatively cheaper and faster alternatives. Native tokens of Avalanche, Cardano and Cosmos also charted impressive rallies during that time frame, while ether remained flat at about $3,400.

At press time, SOL is trading near $165, while bitcoin and ether are changing hands near $47,000 and $3,400, respectively.

Bitcoin printed a UTC close above the crucial 200-day moving average on Tuesday as the dollar dropped after a softer U.S. core consumer price index for August eased concerns that the Federal Reserve may speed up plans to unwind liquidity-boosting stimulus program.

“Investors are refocusing on the main cryptocurrencies. Support for bitcoin remains strong again and is cyclical, and we may see breakthrough above key levels,” 21Shares’ Ksiss added. “Solana’s performance has been overwhelming last month, and this drawback could see further depreciation as the market resets and focuses on what the consequences are to its glitches.”

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Crypto analyst Michaël van de Poppe is analyzing five altcoins that he believes could surge in price this month.

The analyst says layer-one projects like Cardano (ADA), Solana (SOL) and Avalanche (AVAX) are currently doing great, so similar projects are likely to follow suit. Layer-one projects are built into basic blockchain protocols to help improve scalability and function.

Van de Poppe says the layer-one project Cosmos (ATOM) is still inside its accumulation range against Bitcoin (BTC), and once it breaks out of that accumulation range, the “first real impulse wave” for the asset will happen.

Cosmos is designed to help developers build interoperable blockchains that can transact and exchange data with one another, creating a decentralized internet of blockchains. The project’s native asset ATOM is trading at $25.08 at time of writing and is up about 25% in the past week, according to CoinGecko.

Next on Van de Poppe’s list is the Mina Protocol (MINA), which bills itself as a “lightweight” blockchain platform. The project’s native asset MINA is trading at $4.12 at time of writing and is up nearly 40% in the past seven days.

Price-wise, the analyst says “the next levels that we should be looking at” for MINA are $5.30 and $8.00.

Van de Poppe is also looking at the decentralized oracle platform Chainlink (LINK), which he says “is not doing anything at all, yet.”

Chainlink’s native asset LINK is trading at $29.45 at time of writing and is up nearly 11% in the past week. The analyst says LINK has been performing weakly against Bitcoin and is primed for a new impulse wave against BTC.

“The oracles underperforming shows that there is a big opportunity lying in the oracle section. If you want to have exposure towards the oracles, the cheapest option, or the most risk-averse option, is to take the entry on Chainlink.”   

Fourth on Van de Poppe’s list is the sharding protocol ONE, the native asset of Harmony. ONE is trading at $0.121543 at time of writing and is up almost 11% on the week, according to CoinGecko. The analyst says ONE’s positive price action is eager to continue, predicting an impulse wave for the asset in terms of its Bitcoin pair.

Last on Van de Poppe’s list is the smart contract platform Tezos (XTZ). The analyst notes Tezos’ native asset XTZ hasn’t seen any bullish movement against Bitcoin all year. He says if the asset breaks through its current resistance, it could 2x against BTC.

XTZ is trading at $5.32 at time writing and is up nearly 6% in the past week.

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Top crypto analyst and trader Michaël van de Poppe is closely watching the price action of five “blue chip” altcoins that could be showing huge upside potential.

In a new video, Van de Poppe tells his 118,000 subscribers that interoperable blockchain Polkadot (DOT) could ignite a strong rally if it takes out a heavy resistance area.

“Once it breaks $29, it’s going to run very heavy here. When we’re looking at the USDT (Tether) chart, this resistance at $29 is very comparable to, for instance, Solana (SOL), that also cracked this level and started to overshoot, just like LUNA (Terra) did as well. Levels that I’m looking at with DOT to accumulate on are those two that we have here. So the level around $21 is one that I’m looking at. The level around $18 is the second level that I’m looking at.”

Another coin on the trader’s list is Cosmos (ATOM), a platform that aims to assist developers in building different blockchains that can transact and exchange data, creating a decentralized Internet of Blockchains. According to Van de Poppe, Cosmos is likely to restart its uptrend if it manages to hold crucial support at $16.

“When we’re looking at the USDT pair, clearly we have a few levels to watch. The first one is the retest here around $16. That would be great if we can hold that. Second, if that doesn’t grant any support, I’m going to look around $12. But given the harsh correction that we just had, most likely we’ll be getting something like this before we start to continue moving further up.”

Next up is smart contracts platform Tezos against Bitcoin (XTZ/BTC). According to Van de Poppe, the pair is putting in higher highs and higher lows and could surge over 70% to 0.00019 BTC ($8.98) if it breaches resistance of 0.00011 BTC, worth $5.19.

“We could be seeing continuation on Tezos happening here. What is the level that I’ll be looking at for the third one? That is the level that we have around [0.000087 BTC or $4.11]. So this entire block that we have here. That is where I’d be looking at if you want to scoop a position in Tezos.”

As for decentralized finance platform Synthetix, the crypto strategist predicts that it could double in value against Bitcoin (SNX/BTC) if its stays above a key level.

“But if we do have some sort of sideways structure, this entire range [0.00021 or $9.91] is where you want to be looking at, and easily, you can just target ranges that are almost 2x from here in the Bitcoin pair.”

Van de Poppe’s targets for SNX/BTC are 0.00036 BTC, worth $16.99 at time of writing, and 0.00042 BTC or $19.83.

The last coin is the decentralized oracle platform Chainlink in its Bitcoin pair (LINK/BTC). According to Van de Poppe, LINK/BTC may due for one more leg down before it can ignite an uptrend.

“This block [0.00045 BTC or $21.24 ] is where I should be getting interested. If we do lose that block, then we still have another one here which is this range around 0.00041 BTC ($19.36) that is still untested. Those two ranges are where I would be scooping in a long at this point.”

Van de Poppe adds that he believes the LINK/BTC pair could bottom out if it taps 0.00041 BTC and reclaims 0.00045 as support.

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Altcoin season seems to be in play as some cryptocurrencies such as ether are rising toward their record highs, while others such as cardano are hitting new peaks.

Price peaks create a buzz, often drawing new people into the crypto space. The frenzy creates a rush of excitement, with first-time investors scrambling to figure out where they can throw their money and take positions. 

But those who've lived through a few crypto cycles know not to get caught up in the FOMO (fear of missing out). Scott Melker has been investing in crypto since 2016 and has a podcast called "The Wolf of All Streets," which is also a nickname he goes by. And he's the author of The Wolf Den newsletter. Melker plays the cycles but knows how to mitigate risk.

"I believe that investors in crypto should have basically 70% of their portfolio and investments that they rarely touch in long term, 15% in cash, and 15% for trading and investing in smaller caps and riskier projects," Melker said. "So even if they all blow up at once, you're really only risking 15%."

For Melker, that 70% consists of bitcoin and ethereum, while the rest of his portfolio holds a mix of other digital assets. But even when it comes to new projects, Melker is a long-term holder. That's why he is bullish on cryptos that are tied to blockchains with a strong use case. So he takes his gains and reinvests them into riskier bets. 

"I do believe that if you have patience, and you're willing to ride the volatility, investing in these assets now is the largest upside opportunity that we'll see in our generation,'' Melker said. 

The widely used term for investors who buy and hold their positions long term and regardless of price is "hodlers." It comes from "hodl," an acronym for "holding on for dear life."

In an interview with Insider, Melker shared six altcoins that he was bullishly holding on to and explained why he believed they had the ability to stick around for the long haul. 

According to Melker, once you've bought bitcoin, the next crypto should be ethereum, especially after the recent EIP-1559 update, which flipped the blockchain into a hybrid system of base fees and tips, burning ethers with every transaction.

The update means that about 200 ETH, or $643,000, is burned every hour. The process means ETH is now a deflationary digital asset.

Melker added that most nonfungible-token and decentralized-finance projects were also being built on ethereum's blockchain. This year alone, the NFT art market has taken rapid strides. Sales volume jumped to $1.23 billion in the first quarter and $1.24 billion in the second quarter, compared with the fourth quarter of 2020, during which that volume was only $52.92 million, according to the data provider DappRadar. Creators and buyers of NFTs use ETH to trade the projects. 

From there, Melker is very interested in all the other layer-1 solutions that are theoretically ethereum competitors, he said. That means any blockchains that can have DeFi and NFT projects built on their networks are on his radar. 

"If you step back, you look at the Ethereum, which is a layer-1, and it's effectively like investing in the internet in the 1990s. It's the platform that everything is being built upon. Well, there are ethereum competitors," Melker said. 

Each of them has its own value proposition and is faster and cheaper than ethereum, Melker said. But he added that just because they could run similar protocols, that didn't mean they would replace ethereum.

This blockchain is dubbed the fastest in the world and the fastest-growing ecosystem in crypto, according to its website. Solana also supports smart contracts for NFTs and DeFi.

"A lot of the metaverse and gaming ecosystems are being built on Solana, which I really believe are one of the major future use cases of blockchain and crypto," Melker said. "The fact that so many of these projects are choosing Solana is a testament to how fast and cheap and efficient it is as a blockchain."

SOL has had a staggering year of growth and is up by an astounding 6,473% year to date. It started January at a mere $1.78, but as of August 31, it was trading at about $117.

Avalanche is an open, programmable smart-contracts platform for decentralized applications that can process thousands of transactions per second. The project says it's low cost and eco-friendly.

A recent bridging mechanism built by developers allows DeFi users to transfer their assets between avalanche and ethereum's blockchains.

"What's interesting about avalanche is that it offers all the things we're talking about with ethereum and solana, but what it also offers is the ability for individuals and companies to build their own blockchains that can be either private or public," Melker said.

AVAX's price hasn't seen steady climbs. So far, the crypto has been extremely volatile, reaching peaks as high as $59 in February and hitting lows of about $9.36 as recently as July, before tracing back to its previous highs this month. 

Elrond is self-described as a blockchain built to provide a "scalable, fast, and secure blockchain platform for distributed apps" and enterprises.

"They're seeing mainstream adoption as a payment solution for music festivals in Europe. They're moving into the NFT space," Melker said. 

EGLD has also had a volatile price throughout 2021. It started the year off trading at about $26. At its peak in April, it hit as high as $243 before dipping to $62 two months later. As of August 31, EGLD was trading around $159, according to CoinMarketCap.

Both ethereum and polkadot have similar transaction protocols, which automatically execute, control, and document legally relevant events on their blockchains. 

But polkadot has a one-up on ethereum because it can bridge and interact with other blockchains. This means additional applications don't need to be built into its platform, like ethereum, but instead can be connected by a bridge.

Keith Bliss, the president of Capital2Market, a firm that provides technology solutions to the financial sector, understands the effect these technologies could have on the DeFi sector and is very bullish on polkadot. He recently predicted DOT's price would rise as high as $100 within the next three years.

DOT's price is up by 245% year to date. The crypto was trading at about $31 as of August 31, according to CoinMarketCap. 

Cosmos' blockchain is a decentralized exchange that can swap digital assets from across the interchain with minimal fees and quick confirmation.

It connects to platforms by using the Inter-Blockchain Communication protocol, an end-to-end, connection-oriented, and stateful protocol for reliable, ordered, and authenticated communication between sovereign blockchains.

Melker said he was a huge fan of cosmos because it creates easy interoperability between the various blockchains, which allows each platform to find a niche while working together. 

In May, ATOM peaked at almost $30 before falling by as much as 73% by June. As of August 31, the crypto was trading at about $24, according to CoinMarketCap. 

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As you know, the crypto market is not stable, this can drive higher ROI or incur a massive loss in the short term. And popular cryptocurrencies can hit the highest price or experience a massive drop at any time, even before investing. Considering the performance of the last one week, major currencies like Bitcoin, Ethereum, and Cardano are running red here is the list of top cryptocurrencies to buy this weekend in September 2021:

Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol. Avalanche is blazingly fast, low cost, and green. Any smart contract-enabled application can outperform its competition on Avalanche.

Terra is a blockchain protocol that uses fiat-pegged stable coins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable > bills itself as a project that solves some of the “hardest problems” facing the blockchain industry. It aims to offer an antidote to “slow, expensive, unscalable and environmentally harmful” proof-of-work protocols, like those used by Bitcoin, by offering an ecosystem of connected blockchains. The project’s other goals include making blockchain technology less complex and difficult for developers thanks to a modular framework that demystifies decentralized apps.

Shiba Inu coin was created anonymously in August 2020 under the pseudonym “Ryoshi.” The meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and Tweets from personalities like Elon Musk and Vitalik Buterin.

Celo is a blockchain ecosystem focused on increasing cryptocurrency adoption among smartphone users. By using phone numbers as public keys, Celo hopes to introduce the world’s billions of smartphone owners, including those without banking access, to transacting in cryptocurrency. The network also allows for the creation of smart contracts and decentralized applications (DApps) as part of decentralized finance (DeFi). Its main net was launched in April 2020.

OMG Network, formerly known as OmiseGo, is a non-custodial, layer-2 scaling solution built for the Ethereum blockchain. As an Ethereum scaling solution, OMG Network is designed to allow users to transfer ETH and ERC20 tokens significantly faster and cheaper than when transacting directly on the Ethereum network.

TrueUSD is a U.S. dollar stable coin pegged to USD at 1:1. First launched to a limited investor base in January 2018, TrueUSD has since grown to incorporate almost $400 million of backed tokens as of October 2020. TrueUSD is one of many cryptocurrency stable coins administered by TrustToken, a platform for tokenizing real-world assets.

As exciting as blockchain is, it can leave much to be desired with transaction speeds and throughput. The Celer Network (CELR) is a smartly designed layer-2 scaling solution that provides off-chain transactions handling. The Celer platform offers fast, simple, and secure off-chain transactions for both payments and smart contracts. The project was among the first to be developed using the Substrate framework and is part of the Polkadot ecosystem.

HUSD is a secure, reliable, and fiat-collateralized stablecoin. It combines the stability of the US dollar and the efficiency of blockchain technology. Additionally, it provides holders with a tool to reduce volatility when trading in the cryptocurrency market. When designing the project, the development team focused on security, liquidity, and convenience. HUSD was created to provide price stability to attract a serious crypto trading audience and simplify interactions with global markets.

Velas is an AI-powered delegated Proof-of-Stake (AIDPOS) blockchain, open-source platform, and wide-scale ecosystem of decentralized products. At the heart of its ecosystem is AI technology, which leverages blockchain by optimizing its performance and assisting other products to function.

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The overall market cap of cryptocurrencies increased by 5.41% over the last 24 hours to $1.98 trillion.

What Happened: After a market-wide decline in crypto prices took effect after fears relating to the Evergrande debt crisis in China began to unfold, digital assets regained momentum on Thursday.

Bitcoin (CRYPTO: BTC) was back above $44,100, gaining 4% in the last day, while Ethereum (CRYPTO: ETH) traded at $3,100, gaining 6% over the same period.

Meanwhile, altcoins alone added $100 billion to the crypto market cap over the last 24 hours. Leading the altcoin rally were Arweave (CRYPTO: AR), Terra (CRYPTO: LUNA), Cosmos (CRYPTO: ATOM) and Avalanche (CRYPTO: AVAX) — all of which recorded 20% gains. 

Solana (CRYPTO: SOL), a new institutional favorite, gained 10% and was trading at a price of $144. 

Polkadot (CRYPTO: DOT) and Dogecoin (CRYPTO: DOGE) gained 8% and 5.4%, respectively. 

According to a Twitter update from crypto trader Dom’s Crypto, Bitcoin has confirmed the support level at $43,000 and is looking to break through the next level at $44,250 very soon.

The trader expects significant resistance to kick in at the $45,800 level given that it is the same level as the 50-day moving average.

Photo: André François McKenzie on Unsplash.

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Crypto analytics firm Santiment says that most speculators are moving on from Ethereum (ETH) in search of better alternatives that offer higher return on investment.

The blockchain industry data giant says that exchanges are seeing an influx of Ethereum, suggesting that people are selling their holdings in response to the recent marketwide crypto dip and other world events.

“Not the healthiest look around if we want to continue an uptrend, but most of the price action recently [has] been rather dependent on macro events (Evergrande meltdown, SEC’s outlook on crypto, etc).”

ETH had dropped from the $3,000 level to around $2,600, before climbing back to $3,102 at time of writing, according to Coingecko.

Santiment says that even before the price of ETH plummeted, network growth has already been stagnant for several months.

The firm says that this behavior is due to growth in other Layer-1 projects like Avalanche (AVAX), Fantom (FTM), and Cosmos (ATOM), as well as declining speculation within the non-fungible token (NFT) market.

“If there are better speculative opportunities that are cheaper and yield higher ROI, people will be there. And for now, ETH isn’t the place for that.

ETH continues to struggle as most speculators have moved on to other L1s for better ROI, eventually leaving it with a stagnant network growth.”

Featured Image: Shutterstock/Maksym Ivasiuk