🚨 Best Buys August 2024
5 Altcoin Opportunities
Hi Investor 👋
welcome to a 🔒 premium edition 🔒 of Altcoin Investing Picks, the most actionable crypto newsletter.
Every Thursday, we send actionable tips to help you build a profitable altcoin portfolio.
If you haven’t yet, subscribe to get access to these posts, and every post.
Today, we’ll give an overview of our favorite altcoins of the month.
August 2024. Where it’s all going?
In August, the crypto market cap declined by 14.9%.
The Fear & Greed Index indicates that we are currently in ‘Fear’ Mode.
Fear is a good thing as we LOVE to buy great tokens at lower prices.
Fear = Opportunities
Market drops can be intimidating.
Big token prices have dropped in the last 30 days:
$BTC: -14.19%
$ETH: -24.25%
$SOL: -24.59%
$BNB: -8.64%
$DOGE: -24.97%
But you should know that these pullbacks are completely normal in this extremely volatile market.
Indeed, with knowledge and a well-thought strategy, they can turn into juicy opportunities.
Best Buys August 2024
Now let’s dive into our favorite crypto for August 2024.
We only mention tokens that can be found within our watchlists and portfolios.
You can read the latest portfolio updates here:
5. Arbitrum ($ARB)
Arbitrum is a Layer 2 scaling solution for Ethereum, designed to enhance its scalability and efficiency. It utilizes rollup technology to increase throughput and reduce transaction costs while maintaining Ethereum's security.
Arbitrum is down more than 66% YTD.
Key investment thesis:
Total Value Locked of $2.7B
$870M in DEX Volume
High F/I Ratio (2,100x)
Low MC/TVL Ratio (0.67x)
Down 77.93% from ATH
4. Lido Finance ($LDO)
Lido is primarily a liquid staking solution for Ethereum and Polygon. Products offered include liquid staking derivative token contracts and other auxiliary smart contract infrastructure to support native token staking services.
Lido is down more than 60% YTD.
Key investment thesis:
Total Value Locked of $24.81B
$920B in annualized fees
Low P/F Ratio (1.0x)
Down 85.29% from ATH
Up +160.94% from cycle low
The rest of this issue is exclusive to AIP Premium members:
Liquid Staking Protocol down 96.42% from ATH
Modular blockchain focused on data availability down more than 41% YTD
New scalable AI protocol backed by top VCs down 93% from ATH
Upgrade your subscription today to unlock access to all of the August Best Buys above, PLUS:
Three articles per week (Tuesdays, Thursdays & Saturdays)
Full access to our entire library of analysis, picks & portfolios.
Access to the micro altcoin watchlist
Deep dive on micro altcoins with 10x+ potential