Cryptocurrency Market Analysis: Top 5 Gainers of August 2021

The total market capitalization of cryptocurrencies has increased by about 30% in the last 30 days. It rose from $1,643T to $2,126T now. During the previous monthly trading period, the total crypto market capitalization recorded a high of $2.164T and a trading volume of $111.289B.

CoinIdol, a world blockchain news outlet, has compiled the list of the top 5 crypto gainers for the month of August among the top 100 cryptocurrencies on the market.

Arweave

Over the past 30 days, Arweave (AR), the 63rd-ranked cryptocurrency by market cap, gained about 427%, becoming the best performer among the top 100 coins on the market. AR opened the month trading at around $11.69 with a market cap of $385,026,819 and volume of $28,835,573.

At press time, Arweave's share price is in the green, changing hands at $63 (with a 24-hour gain of 12%), with a market cap of $2,084,813,089 and trading volume of $503,298,920 (+0.21%).

In the last 24 hours, Arweave has managed to reach a high of about $70.04, a price that drove AR's MC to a high of $2,198,585,292 and volume of $610,554,221.

However, even though AR has seen a steady trading trend in the market, Arweave seems to be volatile as the price has recorded a low of $7.11 in the last 90 days, a low of $10.71 in the last 30 days and a low of $23.62 in the last 7 days.

To show that AR is volatile, it has reached its all-time high of $70.04 (August 31), but since then the token has dropped about 12%.

The growth of non-fungible tokens (NFTs) this summer could be a major reason for the massive run-up in Arweave, a decentralized storage initiative that underlies many fundamental marketplaces.

Revain

Revain (REV), the 64th-ranked cryptocurrency by market cap, is up over 257% in the last 30 days. REV opened the month of August with a price of $0.006374, a market cap of $542.16B and a volume of $3.099M.

As of this writing, Revain is trading at $0.02258 with a 24-hour gain of about 20.46%, on $1,924,908,377 market cap and $2,991,468 trading volume (-22.84%). Revain has a 30-day low of $0.006034 and a 30-day high of $0.0238.

Revain is now aiming to reach and surpass its ATH price of $4.49, the level it last reached on February 18, 2018 (about 4 years ago). However, this means that the price will have to rise by about 99.5% to reach a new all-time high.

Avalanche

Avalanche (AVAX), an umbrella platform for DeFi app launches, and also a token ranked 23rd by MC, is up over 241.5% in the last 30 days. Avalanche opened the month of August changing hands at around $13.53 with a MC of around $2,233,279,592 and a volume of $90,946,247.

Currently, AVAX/USD is trading in the green at around $45 (+3%), with a market cap of $7,888,748,964 (3.05%) and a trading volume of $1,090,528,410 (+13.12%).

Avalanche posted a 30-day low and a 30-day high of $12.34 and $58.98, respectively. If this trend continues, Avalanche could reach its ATH price of $59.94, the price it last reached about 7 months ago. To achieve this, the price needs to rise by about 25.52%.

Solana

Solana (SOL) performed miracles in August. SOL made the leap from 10th place by market cap to 8th, according to CoinIdol, a world blockchain news outlet. Solana leapfrogged major altcoins like Polkadot (DOT, $30.2) and USD Coin (USDC, $1.00). In the last 30 days, Solana's value has increased over 204%.

At press time, SOL is trading at $112.85 (-5%), with a market cap of $32,798,723,651 (-5.42%) and volume of $7,268,984,828 (+21.52%).

Solana even reached its all-time high of $130.01 on August 31, 2021. The lowest price in the last 30 days was $32.40, indicating that the trade was bullish.

Fantom

The 64th cryptoasset by market cap, Fantom (FTM), has gained about 180.5% in the last 30 days. At the time of writing, FTM/USD is changing hands at around $0.761 (+8.15%) on $1,938,449,873 market cap and $48M volume (-59.4%).

Fantom managed to reach a high of around $0.8977. If it continues to trade positively, there is hope that it can surpass its ATH of $0.9571 (recorded about 4 months ago) before the end of September - it only needs to gain about 26.3% to surpass its all-time high.