August’s Crypto Market Winners Explode as September Danger Looms
Key Takeaways
NPC’s price logged a massive August movement, jumping 206% and even outpacing HNT’s 188.70% price gain.KAITO went the other way, as the coin dropped 67.87% despite August being a strong month for much of the crypto economy.September could be a tougher ride for all coins. Bitcoin has finished lower in 8 of the past 13 Septembers, which could put added pressure on altcoins, as historical records show this is usually the case.
While leading crypto assets like bitcoin, ethereum, solana, and several other top 20 contenders saw gains, massive spikes came from a slew of digital assets. The largest gain was a meme coin known as non-playable coin (NPC), which is trading for $0.01650 and rising 206% over the last 30 days. The native cryptocurrency of the Helium Network, helium (HNT), surged by 188.70% in the same timeframe.
NPC, PROM, DOG, and PUMP Join August’s Breakout Pack
In third place over the 30-day window, the coin associated with the Prometeus Network, prom (PROM), was also a triple-digit gainer with a rise of 154.09%. This month saw the rise of another meme coin, issued on the Bitcoin blockchain, dog (DOG), as it rose 96.65%. The meme coin launchpad platform Pump.fun’s native coin PUMP jumped 96.15%, and the layer two (L2) coin stacks (STX) managed to rise 88.05%.
Alongside this action, Curve DAO the decentralized autonomous organization (DAO) that governs Curve Finance, saw its native coin CRV spike by 75.48%. This was followed by the digital asset mina protocol (MINA), which logged a 75.48% gain. Rounding out the top ten performers, crypto assets such as convex finance (CVX) increased by 72.40%, and the token called multiversx (EGLD) posted a 71.74% gain against the greenback.
KAITO Crashes 67.87% as August Leaves Some Coins Behind
Not all had a joyous August as a slew of digital currencies recorded double-digit declines. KAITO experienced the most significant drop this past month, losing 67.87% of its value. Centrifuge (CFG) also took a brutal hit, losing 40.30% against the U.S. dollar. The privacy coin known as zano (ZANO) did not follow in the footsteps of privacy contenders like ZEC and XMR as it lost 24.17%.
The downward trend continued with jito (JTO) as the crypto coin lost 15.06% over the 30-day timeframe. Markets also saw ultima (ULTIMA) shed 13.81%, and zigchain (ZIG) lose around 12.78% since the start of August. Meanwhile dexe (DEXE) and the digital asset dubbed data network and the ticker DATA experienced declines of 11.91% and 11.14%, respectively. The ninth and tenth biggest 30-day losers include SOON, which fell by 10.53%, and the Tron-issued sun token (SUN), as it posted a 10.28% decrease during the broad crypto rally in August.
September’s Bearish History Looms Over the Crypto Rally
Here’s what we know going forward. Bitcoin and the rest of the gang do not have a solid history of gains in September, and typically, the month is filled with bearish BTC declines and liquidations. Approximately 8 out of the last 13 years, bitcoin’s price has ended in the red, and historically, altcoins follow BTC’s downturns. That means September is a bad month for markets 61.54% of the time so far, but of course, that could change.
