With Bitcoin (BTC) price surging past $60,000, crypto markets have regained momentum. If this BTC rally sustains, these 5 Ethereum coins could soar due to their strong fundamentals, allowing investors to turn $200 to $2,000. While August caused a lot of pain to the crypto markets due to the corrections, investors can expect September to be slightly bullish, allowing ETH coins to rally.
5 Ethereum based Coins To Buy In September
Although Bitcoin price has cleared $60,000 and Ethereum fundamentals are strong, Ether’s market value does not correspond to the developments. While Ether price fails to move, ETH coins are rallying. So, investors must watch these 5 Ethereum based coins flashing buy signals that could trigger an exponential rally in September, turning $200 to $2,000.
- OKB (OKB)
- Fetch (FET)
- Floki (FLOKI)
- Shiba Inu (SHIB)
- Lido DAO (LDO)
OKB (OKB) on Exchanges Plummet
According to Santiment, the total supply of OKB held on centralized exchanges has dropped by 252% since March. This sudden drop in the supply of OKB on centralized platforms is considered bullish for the crypto. A lack of tokens on exchanges suggests that investors are confident in the long-term performance of the altcoin and do not plan on selling their holdings anytime soon. This bullish outlook is why investors can expect OKB, an Ethereum coin, to trigger a massive run-up should the crypto market retain its bullish outlook. Such an opportunity would allow investors to turn $200 to $2,000.
Fetch (FET) Signals Long-term Bottom Formation
Based on Santiment data, the MVRV Long/Short Difference for the AI token Fetch hovers around -16%, deep in the negative territory. This indicator is obtained by calculating the difference between the 365-day and 30-day MVRV ratios. Extremely negative values are often considered potential reversal zones and the end of the bear market. Considering this, investors can expect the Fetch (FET), which is both an AI and Ethereum coin, to move higher.
Furthermore, the Nvidia Earnings report on August 28 will also be a key driver of this Ethereum coin to rally higher.
Floki (FLOKI) Fundamentals Improve
The recent uptick in crypto markets has caused this Ethereum-based meme coin Floki (FLOKI) price to increase. On-chain data shows that the network growth for FLOKI has spiked, indicating that new addresses, aka capital, are joining the meme coin network. This outlook adds credence with an increase in the daily active addresses, noting a bullish future ahead for this crypto.
This optimistic outlook could propel Floki price to soar higher, allowing investors to turn $200 to $2,000.
Lido DAO (LDO) Could be Community Favorite Again
In the 2021 and 2022 crypto market bull run, Lido DAO (LDO) was a favorite among many investors due to its volatility and utility. As a result, LDO market value increased by 900% between mid-2022 and early 2024. Based on onc-chain data, whales have been sizing up LDO in the past few weeks.
Since July 29, whales holding between 10,000 to 100,000 and 100,000 to 1,000,000 LDO tokens have done nothing but accumulate. The first cohort increased their stack by 2 million LDO while the second by 10 million. This trend shows how bullish these whales are and their expectations from LDO price.
The end of August could bring volatility and short-term correction, but the sidelined buyers will likely step in and retain the ongoing bullish outlook. Investors could speculate on these 5 Ethereum coins to turn their $200 to $2000.
Frequently Asked Questions (FAQs)
With the strong fundamentals and spot ETF approval, investors can expect Ethereum coins to trigger massive rally especially if crypto markets retain their bullish outlook. These 5 ETH coins include OKB, FET, FLOKI, SHIB & LDO.
The drop in OKB’s supply on exchanges indicates that investors are confident in the coin’s long-term performance and do not plan to sell their holdings soon.
The extremely negative value of the indicator suggests a potential reversal zone and the end of the bear market, indicating a potential rally for FET.
Akash Girimath
Akash Girimath is an engineer at core, but is interested in the chaos of the financial markets. Akash is senior report and analyst who also trades cryptos on a regular basis and maintains a small crypto fund for friends and family.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/5-ethereum-based-coins-to-buy-to-turn-200-to-2000-in-september/
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