With the crypto market capitalization now midway between the highest and lowest points of the last 12 months, many investors are seeking opportunities in the crypto industry.

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Check out the best-performing altcoins this week, including high-cap and low-cap options, to get a balanced view of the overall market.

Top 5 Performing Altcoins of September 2024

Let’s start with the high-cap options and examine the top 5 altcoin gainers in the last 7 days. These projects are selected from the top 100 coins by market cap, focusing on those with the strongest price growth this week.

BinaryX (BNX)

BinaryX is a decentralized platform for blockchain-based gaming development and entertainment. The native BNX token has seen a 34% rise in price over 7 days, making it the top gainer of the week within the top 100 coins by market cap. Recent investor confidence has been bolstered by the addition of more games and advanced governance and tokenomics features.

Fantom (FTM)

The Layer-1 dApp network Fantom is up 20.8% this week. This increase is driven by Sonic Labs, a key player in the Fantom ecosystem, targeting an $11 trillion lending market with a recent project update. This news has provided significant short-term support for FTM.

Artificial Intelligence Superalliance (FET)

Despite its name, the Artificial Intelligence Superalliance has seen a 20% price increase for FET tokens over the past 7 days. The project involves key players in AI and blockchain industries, including Fetch.ai, which is working on developing smart city technology in collaboration with the government of Munich.

Sui (SUI)

The SUI token is up over 17% this week, likely due to the announcement of the SUI trust for accredited investors launched by Grayscale. Developed by Mystery Labs, which includes former Meta engineers, SUI has gained credibility and professionalism.

Toncoin (TON)

Toncoin, the native token for the Telegram app ecosystem, is up 17% over the last 7 days. Despite a 13% decline this month, TON has been up 277% over the last 12 months, driven by a growing user base and new features.

Low-Cap: The Biggest Altcoin Gainers

In the low-cap altcoin space, the gains are significantly higher, but so is the risk. Exercise caution when exploring this list, as high price volatility can lead to substantial losses for retail investors. Thorough research and a solid risk management strategy are essential when considering investments in low-cap cryptocurrencies.

Euno (EUNO)

The privacy coin EUNO has experienced a 233% gain this past week. Despite its impressive performance, the project’s social media has been inactive for almost a year, and there are no recent news articles explaining the price increase. With a market cap of just over $1 million, the coin is highly susceptible to price corrections.

Swisscheese (SWCH)

SWCH is the native coin for the Swisscheese DeFi platform and has seen a 133% increase in value over the last 7 days. The platform supports swaps of cryptocurrencies and other assets like stocks, making it popular among investors. The token recently broke above its 50-day moving average, attracting bullish sentiment.

Catgirl (CATGIRL)

Catgirl crypto is up 107% this week as interest in the meme coin grows. With an extremely small market cap of just $670,000, it poses a high-risk investment. The price action of such a small project can be heavily influenced by significant trades, leading to potential market instability.

Staying Safe with Altcoins

Reading about the best-performing altcoins and tracking crypto’s biggest movers is always intriguing. However, high-volume gainers can quickly become high-volume losers, particularly smaller projects. When searching for promising altcoins, consider factors beyond recent price action, such as the project’s use case and team. Chasing volume alone can often result in traders holding unprofitable positions.

For more insights on risk management and setting up your crypto portfolio, explore more news and articles on Global Crypto News.

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