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The market is presently buying and selling sideways after greater than 6-months in the purple. Bearish sentiment stays robust, too, as macro-economic elements paint a image of a international financial system that might be headed for a recession. However, some elements paint a bullish image for cryptocurrencies and level to a market headed for a main restoration.

One of them is knowledge exhibiting that 40% of U.S buyers are shopping for crypto now. The knowledge exhibits that the buyers are pushed by a must protect wealth amidst the continued uncertainties in the market. 

Not solely is that this a enormous validation for cryptocurrencies, but it surely might additionally set off a rally that might see cryptocurrencies return to their most up-to-date all-time highs. That’s as a result of American buyers have the cash, a issue that might see them push the market up in August. This chance is strengthened by the truth that Bitcoin is holding robust above the $20k assist regardless of the market turbulence.

Going by this market potential, listed here are some high cryptocurrencies to regulate in August. 

Binance coin (BNB)

Binance Coin (BNB) has began August with a lot of momentum. When writing this text, BNB was up by 6.8%, outperforming most high cryptocurrencies. This follows a sequence of excellent information in the final 24 hours. 

One of a very powerful ones is that Binance has entered the Argentine cryptocurrency pay as you go market. With extra folks in South America utilizing crypto cost playing cards, the uptake is more likely to be enormous. Since BNB is the native cryptocurrency for funds in the Binance ecosystem, this transfer interprets to a potential enhance in demand. 

This potential is mirrored in its worth, and BNB might stay robust all through the month. This momentum is enhanced by Binance Coin’s push by the $300 resistance. This might see extra consumers acquire confidence in BNB in the brief time period. 

Polygon (MATIC)

Polygon (MATIC) remains to be basking in the glory of final month when it emerged as one of many best-performing cryptocurrencies. This month, upside momentum is more likely to stay robust for Polygon. That’s as a result of the Ethereum merge is scheduled for subsequent month, and Polygon, one of many larger Ethereum layer-2, is more likely to profit from FOMO forward of the merge. For this motive, Polygon stays undervalued in August, even after its most up-to-date rally. 

Flow (FLOW)

Flow (FLOW) is among the best-performing cryptocurrencies in August to this point. Flow’s rally has a lot to do with the information that Meta, Facebook’s mum or dad firm, is supporting it. Meta will assist NFTs and different digital collectables on the Flow blockchain.

Given that, FLOW remains to be buying and selling at huge lows in comparison with its all-time highs. FOMO round this information might see this cryptocurrency emerge as one of many best-performing cryptos in August. It would additionally not be stunning if FLOW ends the yr as the primary crypto to retest its all-time highs.