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- Bitcoin has been comfortably trading at $113,010 as market watchers wait for it to surge again to $120,000.
- Heading into September, ONDO, SUI, and PENGU are showing signs of momentum, while HBAR and SEI continue to battle resistance around the $0.35 level.
The crypto market just keeps climbing, total valuation is now up 1.37% to $3.86 trillion, with Bitcoin (BTC) alone making up $2.16 trillion of that. All eyes are on Federal Reserve Chair Jerome Powell, who’s set to speak tomorrow at the annual Jackson Hole Symposium. His comments could make or break the stock market’s rally that’s been running since “Liberation Day.”
Traders seem confident the Fed will restart rate cuts next month, but markets love surprises, so expect some volatility. As we come close to wrapping up August, a few tokens on our radar are HBAR, SUI, SEI, PENGU, and ONDO, all worth watching as sentiment shifts.
Hedera (HBAR)
Hedera has been positioning itself as a player in the real-world asset (RWA) space. A recent partnership with Swarm highlights this potential, as it enables tokenized stocks that are 1:1 backed and insolvency-protected to be issued on Hedera’s network. On top of that, Hedera is working with Aberdeen Group, a massive UK asset manager with more than £518 billion AUM.
Momentum is also building with new investment products: last week, an HBAR staking ETP launched on the SIX Swiss Exchange, and Delaware’s registry added the Grayscale Hedera Trust ETF to its official list of entities. Market-wise, analysts are eyeing a possible retest of the $0.30 level from its current price of $0.23.
Ondo Finance (ONDO)
Just like HBAR, Ondo Finance is carving out a niche by giving investors direct exposure to tokenized U.S. Treasuries through its flagship products USDY and OUSG stablecoins.
Right now, ONDO is moving sideways, trading at $0.9236 after dropping about 9.7% over the past week. Still, with a market cap sitting around $3 billion, there’s plenty of room for growth. Out of the 10 billion total tokens, roughly 3.15 billion are in circulation.
While most projects see frequent token unlocks that can put selling pressure on the market, Ondo only has one unlock per year, and the next one isn’t until January.
Sui Network (SUI)
According to a recent Messari report, over the last quarter, daily DEX trading volume on Sui averaged $367.9 million, up 20.8% from the previous quarter. Leading that activity were Cetus ($170.7M daily) and Bluefin ($78.5M daily).
On top of that, Sui’s Total Value Locked (TVL) jumped 44.3%, climbing to $1.76 billion. In SUI terms, TVL grew from 536.6 million to 631.8 million SUI, a solid 17.7% increase. Institutional interest is also starting to show. Grayscale recently launched the DeepBook and Walrus Trusts, giving investors direct exposure to Sui’s core protocol assets.
That said, SUI’s price is still trading more than 35% below its all-time high. As of now, it sits at $3.41, down just 2.1% in the past 24 hours.
Sei Network (SEI)
Sei Network has been seeing explosive growth in activity, with active addresses up an incredible 7,952% since launching in 2023. Monthly activity now sits at 15 million users, while SEI is trading at $0.2931, down 3.5% in the last 24 hours.
Analysts are eyeing the $0.32 level as the next key resistance. The project currently holds a $1.7 billion market cap, with daily trading volume above $150 million, despite a recent 22% decline. One of the biggest developments is the launch of Monaco, the first DeFi protocol incubated directly by Sei Labs and built as a Central Limit Order Book (CLOB).
Pudgy Penguins (PENGU)
Pudgy Penguins has held up surprisingly well despite sliding 25.5% over the past month. Right now, the token is trading at $0.030. According to analysts, PENGU could make a run at the $0.036 resistance, while support sits around $0.031.
Nasdaq-listed BTCS Inc. recently bought three Pudgy Penguins NFTs for its treasury, diverging from its usual Ethereum-centric holdings. Analysts suggest that if other firms follow, NFT tokens like PENGU could gain the same prestige early Bitcoin and Ethereum received when corporates first invested.
