Top Crypto Performers Today – Sui, Helium, Bittensor

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Joel Frank

Author

Joel Frank

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Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology…

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Last updated:

August 8, 2024 05:58 EDT

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On a euphoric day in crypto markets, where most major coins posted big gains amid fading US recession, JPY currency and geopolitic risks, traders hunting for top crypto performers today were combing through the altcoin markets.

Bitcoin (BTC) and Ethereum (ETH) gained between 8 and 10% in the past 24 hours, per CoinMarketCap, nearing $60,000 and $2,600 respectively.

Better-than-expected US jobless claims data eased fears of rapid US labor market deterioration.

Major cryptos still face a risk of near-term headwinds. Crypto markets appear to still favor a Donald Trump victory in the upcoming US Presidential election.

But betting markets currently show Trump to be neck and neck versus sitting VP and presumptive Democrat Presidential nominee Kamala Harris.

So, while Wednesday has been a big day of gains in crypto, a continued rally is far from guaranteed.

However, if investors are skillfull, they might be able to select strong performing altcoins that can continue to outperform.

Here are some top crypto performers today they will be watching that could be the best crypto to buy now.

Top Crypto Performers Today

Sui (SUI)

Innovative layer-1 blockchain Sui (SUI) is up over 25% in the past 24 hours, per CoinMarketCap, making it a top crypto performer today.

Its pump comes amid an announcement from major crypto asset management firm Grayscale that it has launched a new private investment fund for the crypto called the Grayscale Sui Trust.

SUI, last at $0.784, is currently probing its 50DMA, which has acted as strong resistance in recent months.

If it can break above here, that would be a real sign that the bulls have regained control of the market.

Helium (HNT)

Decentralized wireless network Helium (HNT) pumped up nearly 20% on Thursday to above $5.50, per CoinMarketCap.

That makes it one of the top crypto performers today.

But HNT’s upwards momentum could be about to accelerate, if it can break to the north of its 200DMA, which it is currently probing.

Bittensor (TAO)

Decentralized machine learning network Bittensor (TAO) is another top crypto performer today.

Per TradingView, it gained nearly 25% on Thursday, rallying back above $300 once again.

TAO is benefitting from optimism surrounding Grayscale’s announcement that it will also be setting up a Bittensor investment product.

Bulls will be hoping for a near-term test of TAO’s July highs in the $370s.

For more indepth analysis, readers can check out Cryptonews.com’s carefully curated list of what they deem are the best cryptos to invest in right now.

Alternatively, for investors with a higher risk tolerance, check out Cryptonews’ list of the best meme coins to buy right now, and the best presales to invest in. These are riskier investments, but could deliver substantially larger returns.

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.