Market
Real World Assets Altcoins to Watch in September 2024: Top 5
Real World Assets (RWA) Tokenization is gaining traction in the crypto market. If you’re an investor looking to diversify your portfolio or explore new opportunities, this analysis highlights some of the most promising RWA altcoins to consider in September.
The list includes a mix of well-known coins and emerging projects with strong growth potential.
Maker (MKR)
MKR, the governance token of the MakerDAO project, made headlines in August for positive developments. Two weeks ago, leading crypto asset management firm Grayscale added MKR to its expanding list of investment funds.
During the same period, network activity on the Maker Protocol surged, contributing to a price retest of $2,000. Currently, MKR trades at $2,115. While it remains significantly below its all-time high, MKR stands out as one of the top RWA altcoins to watch in September.
According to the daily chart, MKR has been trading in a narrow range between $1,868 and $2,201 since August 8. Bears appear to be attempting another push below the $2,000 level, but strong support at $2,024 could help hold the price above that key threshold.
Read more: Maker (MKR) Price Prediction 2023/2025/2030
If this is the case, MKR’s price might bounce toward the 61.8% Fibonacci level at $2,259. Should this be the situation, the altcoin value might rally toward the 38.2% Fib sequence at $2,590 before next month ends.
Ondo (ONDO)
This list would be incomplete without Ondo, which has been numerous times at the flagship altcoin of the RWA ecosystem. In the last 30 days, ONDO’s price has decreased by 28%. While this might be discouraging for some market participants, this analysis shows that the decline presents a rare buying opportunity.
One key reason for this thesis is the rate at which Blackrock buys the altcoin. Based on current trends, the American investment mogul might purchase more ONDO in September.
From a technical point of view, the sellers’ exhaustion appears to be setting in as the token forms a descending triangle. ONDO currently trades at $0.70 and could slide toward the $0.65 support.
But once it drops to this price, a rebound might occur. If accompanied by buying pressure, the token could register a 90% increase, potentially taking it toward $1.25.
Pendle (PENDLE)
Ranked as the 110th most valuable project in the crypto market, Pendle enables trading and tokenization of future yields. This makes it one of the top RWA altcoins to watch out for in September.
In addition, PENDLE is currently undergoing daily token unlocks. While the amounts are relatively small, these unlocks can still impact the token’s price. However, once this period stabilizes, the RWA altcoin could see an upswing.
Read more: What Are Tokenized Real-World Assets (RWA)?
Over the last seven days, PENDLE’s price has already risen by nearly 20%. According to the daily chart, the token is trading within an ascending channel. Thanks to its yield potential, PENDLE may attract increased interest from market participants.
If buying pressure grows, the token could climb to $3.90 in the short term. On the other hand, if selling pressure rises, PENDLE’s value could dip below $2.
Mantra (OM)
Since July, OM, the native token of the “security-first” RWA Layer-1 blockchain Mantra, has been among the top altcoins to watch. At press time, OM’s price is $0.94, marking a staggering 4,900% increase over the last 365 days.
The token’s performance also places it among the few altcoins in the top 100 that hit a new all-time high in July. Currently, OM is down 33% from that peak. On the daily chart, the altcoin is nearing a critical support level at $0.93.
If it breaks below this support, the price could slide to $0.85, which appears to be a strong zone for a potential bounce.
Should a rebound occur amid broader market optimism, OM’s price might rise to $1.11. However, a market-wide sell-off could invalidate this bullish outlook, pushing the price down to $0.79.
Axelar (AXL)
Rounding out this list is Axelar, whose token (AXL) has gained 13.5% over the last seven days. Axelar plays a crucial role in Real-World Asset tokenization by facilitating cross-chain communication for large-scale enterprises.
As of this writing, AXL’s price has broken above a descending triangle.
Read more: How To Invest in Real-World Crypto Assets (RWA)?
Currently trading at $0.61, the altcoin could rally to $0.80 in September if it maintains its momentum and avoids a drop to $0.48. However, a breakdown remains possible if bulls fail to prevent a downtrend.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
SEC Moves Toward Solana ETF Approval Amid Pro-Crypto Shift
The SEC is quietly meeting with several issuers to discuss approving a Solana ETF, claims Fox Business reporter Eleanor Terrett. With Trump’s impending pro-crypto administration, the SEC seems more inclined to approve such a product.
However, anti-crypto figure Gary Gensler is still nominally in charge of the SEC, and public progress might not begin until 2025.
Solana ETF Approval Is Getting Closer
According to a scoop from Fox Business reporter Eleanor Terrett, the SEC and several ETF issuers are in talks to approve a Solana ETF. Currently, Brazil is the only country that has given this product a green light. As recently as September, Polymarket odds gave the SEC a dismal 3% chance of approving it. This reluctance, however, might soon be changing:
“Talks between SEC staff and issuers looking to launch a Solana spot ETF are “progressing” with the SEC now engaging on S-1 applications. Recent engagement from staff, coupled with the incoming pro-crypto administration, is sparking a renewed sense of optimism that a Solana ETF could be approved sometime in 2025,” Terrett claimed.
Terrett was very clear about the impetus for this progress in negotiations: Donald Trump’s re-election. On the campaign trail, Trump vowed to significantly reform US crypto policy, and one cornerstone was firing anti-crypto SEC Chair Gary Gensler. Gensler has apparently conceded to his impending ouster, and his replacement will undoubtedly support the industry.
Previous attempts have floundered at an early step in the process. Once the SEC officially acknowledges an application, it must confirm or deny it within a 240-day window. Previous filings have lingered in limbo at this stage. However, the list of candidates is now growing: Canary Capital filed for a Solana ETF in October, and BitWise did the same earlier today.
Nonetheless, these positive negotiations still only consist of anonymous rumors. The Commission has not publicly moved to begin this process, and Gensler is still nominally in charge. Terrett posits that the SEC will only make serious progress on the Solana ETF at the start of 2025. Compared to previous pessimism, however, this is a complete sea change.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
ETH/BTC Ratio Plummets to 42-Month Low Amid Bitcoin Surge
The ETH/BTC ratio, a metric measuring Ethereum’s price performance compared to Bitcoin, has reached its lowest point since March 2021. This development comes amid BTC’s brief rise to $98,000.
While the flagship cryptocurrency has increased by 7.45% in the last seven days, ETH has hovered around the same region, with investors raising concerns about the altcoin’s future.
Ethereum Continues to Lag Behind Bitcoin
In February, the ETH/BTC ratio climbed to a yearly high of 0.060. During that time, speculation spread that Ethereum’s price would begin to outperform Bitcoin and validate the altcoin season. However, that has not happened, as Bitcoin’s price has continued to make new highs
Ethereum, on the other hand, is yet to retest to reclaim its all-time high despite reaching $4,000 earlier in the year. This disparity in performance could be linked to several factors. For instance, both cryptocurrencies saw approval for exchange-traded funds (ETFs) this year.
However, while Bitcoin has seen billions of dollars in inflows, ETH has been inconsistent in attracting capital. Hence, the institutional inflow has driven BTC toward $100,000, ensuring that the ETH/BTC ratio drops to $0.033 — the lowest level in 42 months.
Further, the disparity in Ethereum’s performance can largely be attributed to sustained selling pressure. For instance, CryptoQuant data reveals that exchange inflows into the top 10 exchanges have climbed to 461,901 ETH, valued at approximately $1.50 billion as of this writing.
This surge in exchange inflow reflects large deposits by investors, indicating a heightened willingness to sell. Such movements typically increase the supply of ETH on exchanges, raising the likelihood of a price drop.
In contrast, a low exchange inflow generally indicates that investors are holding onto their assets, which is not the current scenario for ETH.
ETH Price Prediction: Crypto Could Retrace
As of this writing, ETH trades at $3,317, which is a higher close than yesterday’s. Despite that, the altcoin is still below the Parabolic Stop And Reverse (SAR) indicator. The Parabolic SAR generates a series of dots that track the price movement, positioning above the price during a downtrend and below the price during an uptrend.
A “flip” in the dots — shifting from one side to the other — often signals a potential trend reversal. As seen below, the indicator is above ETH’s price, suggesting that the cryptocurrency could reverse its recent gains.
If this is the case and the ETH/BTC ratio declines, Ethereum’s price could decline to $3,083. However, if buying pressure increases, that might not happen. Instead, the value could surge above $3,500 and toward 4,000.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Bitcoin Cash (BCH) Price Up, Leads Daily Gains
Bitcoin Cash (BCH) price has risen more than 10% in the last 24 hours, surpassing the $10 billion market cap and signaling renewed bullish momentum. The recent surge has brought BCH closer to key resistance levels, indicating the potential for further gains if the uptrend strengthens.
However, indicators like the RSI and ADX show that while the trend is improving, it is not yet fully strong. Whether BCH can sustain its upward momentum or face a pullback will depend on how it navigates critical resistance and support levels in the coming days.
BCH Current Uptrend Is Getting Stronger
BCH currently has an ADX of 19.31, up from 12 just a day ago. This increase indicates that the strength of the trend is gradually gaining momentum after being weak.
However, since the ADX is still below 25, it suggests that the uptrend has not yet reached a strong or sustained level of trend strength.
The ADX measures the strength of a trend, with values above 25 indicating a strong trend and below 20 indicating a weak or uncertain trend. While Bitcoin Cash is currently in an uptrend, the ADX at 19.31 suggests that the trend is still in its early stages of strengthening.
If the ADX continues to rise above 25, it could confirm a stronger uptrend, but for now, Bitcoin Cash price movement remains cautious, with room for further development.
Bitcoin Cash Is Not In The Overbought Zone Anymore
Bitcoin Cash has an RSI of 64.5, down from over 70 just a day ago. This decline suggests that while the asset is still experiencing bullish momentum, the intensity of buying pressure has started to decrease.
The drop below 70 takes BCH out of the overbought zone, indicating a more balanced market sentiment.
The RSI measures the speed and magnitude of price changes, with values above 70 indicating overbought conditions and below 30 signaling oversold levels. At 64.5, BCH remains in bullish territory, which supports the ongoing uptrend.
However, the slight decline in RSI could mean the pace of gains is moderating, potentially leading to BCH price consolidation before any further upward movement.
BCH Price Prediction: Will a New Surge Occur Soon?
If BCH maintains its current uptrend and gains additional momentum, it could continue its rise after climbing more than 10% in the last 24 hours.
This strength could push BCH price to test the resistance at $536.9. Breaking this level would signal a continuation of bullish momentum and could attract further buying interest.
On the other hand, if the uptrend fades away and reverses, BCH price could retrace to test the nearest support levels at $424 and $403. If these supports fail to hold, the price could fall further to $364, representing a potential 27% correction.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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