August was a pretty busy month for the entire altcoin market. Bitcoin and Ethereum struggled to maintain a stable price. The medium-volume altcoin project, on the other hand, found the opportunity to make a move. In this article, let’s list 3 prominent examples of these, along with the catalysts behind the rise.
Here are the 3 most profitable altcoins in August
Rollbit Coin (RLB)
RLB performed solidly throughout August. This platform allows users to trade tokens using 1000x leverage. Rollbit also offers its users sports betting and arcade games, as well as tokenized jackpot games. As of early August, Rollbit has registered over $2.5 billion worth of crypto futures trading.
RLB also experienced tremendous buying pressure which caused its price to rise. Interestingly, Rollbit has one of the fastest growing altcoin communities. This was all thanks to its offering a service that was warmly welcomed by gamblers and investors. Users flocked to Rollbit despite an overall bad market.
Rollbit's largest hourly Buy & Burn to date!
Impressive to see considering the current state of the market.
Uncorrelated revenue diversification is what makes RLB truly unique. pic.twitter.com/iDwLRZBvpg
— Lucky (@Lucky_Rollbit) August 25, 2023
There are several factors behind Rollbit’s recent growth, including Rollbit’s acquisition and burning of RLB. The burning program will reduce the number of RLBs in circulation and increase the price. The altcoin price is trading at $0.1837, up 21.02% in the last 7 days, according to Coinecko.
XDC Network (XDC)
XDC Network serves as a hybrid Blockchain platform that aims to bridge the gap between Blockchain technology and traditional finance. Formerly called XinFin, this altcoin focuses on tackling real-world problems. It also helps businesses easily reap the benefits of Blockchain technology by making major systematic changes.
XDC complies with the international payment messaging standard ISO 20022, making it an easy platform for developers and financial institutions to build on. The platform also introduced XDCPay, a web extension compatible with several well-known browsers.
The market for tokenized U.S. Treasuries has grown to $622M this year, which is why we’re excited to be working with @Tradeteq on the launch of USTY tokens using @XDCFoundation’s trade finance-focused blockchain. More from @sndr_krisztian in @CoinDesk: https://t.co/YSRwXlJBUQ
— Securitize (@Securitize) August 29, 2023
UK-based asset marketplace Tradeteq has recently launched a tokenized US Treasury offering on XDC. XDC has seen an increase in adoption as tokenization continues to gain ground around the world. Data from CoinGecko shows that XDC has been trading at $0.05953 with a price increase of 13.1% in the last 7 days.
Toncoin (TON)
Toncoin has been one of the biggest gains of the past week. TON’s innovative approach to blockchain management and decentralized applications is one of its biggest appeals. The project originally started as a community-driven fork of Telegram Open Network. However, there has been a lot of activity in the network lately.
A new report claimed that developer activity on Tone increased by 102% in 2020. Interestingly, the TON Wiki Challenge and DoraHacks Hackathon are the two big factors behind the recent increase in TON.
Big shoutout to #toncoin! Over the last week, it has surged by a whopping 24.22%, showing remarkable strength in the market. What's your perspective on #toncoin's soaring success?#scb #smartcryptobot #cryptobottrading #cryptobot #crypto #blockchain #finance #cryptobots pic.twitter.com/cC5G52X5G6
— Smart Crypto Bot (@smart_cryptobot) August 30, 2023
According to Coinecko, TON is currently trading at $1.70. This means a 16.9% price increase in the last 7 days.
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