In July, crypto investors experienced mixed emotions as Bitcoin (BTC-USD) showed both positive and disappointing movements. However, Ripple’s legal victory provided some relief. As August begins, we’ll highlight a few high-growth cryptos to buy with the potential for significant activity or price fluctuations. Cryptocurrencies continue to revolutionize finance, attracting investors and tech enthusiasts.
Amidst the vast array of digital assets, specific cryptos stand out and have been making waves, especially in challenging times. Let’s explore three high-growth cryptos to buy that could impact the global market in August 2023 and uncover the trends driving their growth.
Akash Network (AKT-USD)
Akash Network (AKT-USD) is an open network that enables safe and efficient buying and selling of computer resources. It operates like a marketplace for trading computing power, with the Akash Deployment Marketplace functioning as an online store for leasing resources using Akash Tokens.
The Akash Container Platform hosts and manages applications, offering various services. Unlike major services like AWS, Google Cloud and Azure, Akash is more cost-effective. It allows easy provider switching without application rewriting or locking into a specific provider. File transfers are secure within the network.
Akash Network offers a diverse ecosystem with DeFi apps, DAOs, NFT platforms, gaming projects, privacy tools and decentralized cloud services. It presents an attractive investment opportunity.
Avalanche (AVAX-USD)
Avalanche (AVAX-USD) is a prominent crypto platform known for scalability and speed in DeFi. Its collaboration with Amazon Web Services has boosted activity and user growth. Offering advanced security and subnets for public and private blockchains, Avalanche’s resilience and recent rebound make it a promising choice in the crypto world.
Avalanche is experiencing a strong rally with growing popularity and a positive outlook for Q3 2023. The recent Bank of America (NYSE:BAC) report praises its potential to bridge TradFi and DeFi, projecting it as a top digital asset in the coming decade due to its expanding ecosystem, scalability and security.
Fetch.ai (FET-USD)
Fetch.ai (FET-USD) is an AI-driven decentralized network enabling autonomous economic agents to interact, cooperate and transact in a decentralized manner. With applications in various sectors like smart cities and decentralized finance, Fetch.ai holds potential for developers and users. The growing interest in AI technologies, along with OpenAI’s popularity, has sparked investor speculation on AI-focused tokens, presenting a promising growth sector.
Imagine the immense value of automating data processing, trading and everyday tasks for numerous businesses. If Fetch.ai successfully demonstrates its ability to automate such functions, its current value of 21 cents could surge significantly. The potential to reduce labor costs is substantial, especially when combining AI capabilities with blockchain innovation. Fetch.ai’s future capabilities will determine the extent of its impact on businesses.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
