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Top Crypto Performers Today September 5 – HNT, SATS, BSV

Top Crypto Performers Today September 5 – HNT, SATS, BSV

CryptoNewsCryptoNews2024/09/05 21:03
By:Joel Frank

Explore today's top crypto performers like Helium (HNT), SATS, and Bitcoin SV (BSV).

Last updated:
September 5, 2024 11:41 EDT

Major cryptocurrencies like Bitcoin and Ethereum are facing notable sell pressure on Thursday due to mixed economic data from the US.

Despite this challenging environment, several altcoins have risen as top crypto performers today, offering traders potential opportunities for quick gains in the altcoin markets.

Bitcoin (BTC) was last trading near $57,000, and Ethereum (ETH) was near $2,400, both hovering close to recent multi-week lows.

The mixed economic data, including the ISM Services PMI for August , which was slightly better than expected, has been overshadowed by a disappointing ADP National Employment report .

ISM Services PMI comes in at 51.5 vs. 51.1 expected.

The Employment component was 50.2 vs. 51.1 last month.

Looking across the leading indicators for #NFP , there's not much to paint a strongly bullish picture. pic.twitter.com/PGu9OceOJ0

— Matt Weller CFA, CMT (@MWellerFX) September 5, 2024

The ADP data has triggered concerns that Friday’s official jobs report might also be weak. A rise in the unemployment rate in July to 4.3% already set off a recession warning, known as the Sahm rule.

There's a term for the sudden rise in unemployment which invariably leads to recession.

It's called the "Sahm rule".

This rule states: When the three-month moving average of the national unemployment rate is 0.5 percentage point or more above its low over the prior twelve… pic.twitter.com/WvxAMlDXtD

— Colin Talks Crypto 🪙 (@ColinTCrypto) September 3, 2024

Another increase could heighten fears of an impending US recession , potentially affecting risk assets further.

In this context, it’s understandable why traders are turning their attention to the top crypto performers today in the altcoin space .

Here are some strong performers that they will be keeping and eye on.

Key Altcoin Movements Among Top Crypto Performers Today

Helium (HNT)

Among the notable top crypto performers today, Helium (HNT) stands out due to its recent price movements.

The wireless network DePIN token is moving closer to its 2024 highs around the $11 mark.

Top Crypto Performers Today September 5 – HNT, SATS, BSV image 1 Source: TradingView / HNTUSD

HNT was last reported at $8.20, up about 8% in the past 24 hours and a remarkable 185% since its July lows around $2.90, according to CoinMarketCap .

This impressive performance makes it one of the leading altcoins today, with a market cap of approximately $1.3 billion.

The @helium IOT network’s coverage slaps. Stand back, @HeliumGeek is visualizing. pic.twitter.com/ccswdGy2gk

— abhay 🎈 (@abhay) September 4, 2024

The token has also been receiving positive commentary on social media, driven by its expanding network and increasing adoption.

As such, HNT ranks as one of the best DePIN coins to invest in right now .

1000SATS (SATS)

The BRC-20 meme coin SATS (1000SATS) is another standout among the top crypto performers today, having rallied 4% in the past 24 hours, as per CoinMarketCap .

1000SATS was last trading around $0.0003, just above its 50-day moving average.

Top Crypto Performers Today September 5 – HNT, SATS, BSV image 2 Source: TradingView / 1000SATSUSD

While the meme coin remains in a medium-term uptrend, a downturn in broader market sentiment could impact this trend.

Bitcoin SV (BSV)

Bitcoin SV (BSV) also makes the list of top crypto performers today, rising 3.0% over the past 24 hours, according to CoinMarketCap .

BSV was recently trading around $46 and has moved back above its 50-day moving average.

Top Crypto Performers Today September 5 – HNT, SATS, BSV image 3 Source: TradingView / BSVUSD

Enthusiasts of BSV are hoping the cryptocurrency can soon retest its recent highs in the $56.50 area.

Alternative to Top Crypto Performers Today

While the top crypto performers today have shown strong potential in the current market, some investors might be looking for alternative strategies to maximize returns.

One such strategy is presale investing, where new web3 projects offer their native tokens at a discount to early investors to fund development.

Although presale investing carries risks like all crypto investments, those who can identify high-potential projects early could see substantial returns.

Analysts at Cryptonews.com are closely monitoring the presale market and have identified several promising projects for potential investors.

19 Best Crypto Presales to Invest In Now

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.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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