4 Altcoins With Potential to Hit New All-Time Highs in August 2024

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As the crypto market regains momentum in mid-2024, investor attention is shifting toward altcoins showing strong technical and fundamental signals for a breakout. After a volatile second quarter, several digital assets are positioning themselves for a potential surge in August 2024. Among them, four altcoins stand out due to rising institutional interest, bullish on-chain metrics, and favorable supply dynamics.

This analysis highlights MANTRA (OM), Solana (SOL), Toncoin (TON), and Jupiter (JUP) — all of which have demonstrated compelling momentum and are within striking distance of setting new all-time highs (ATH).

👉 Discover how these altcoins are shaping the next phase of the bull market.

MANTRA (OM): Security-First Blockchain Gaining Institutional Traction

MANTRA’s OM token has been one of the most impressive performers in 2024, surging 1,956% year-to-date. In the past 30 days alone, OM climbed over 50%, making it the top-performing altcoin in July. This rally reflects growing confidence in MANTRA’s vision: a security-first Layer-1 blockchain focused on real-world asset (RWA) tokenization.

Currently trading at $1.17**, OM is just **18% below its ATH of $1.42, reached on June 22. With strong momentum and increasing accumulation by large holders, a new record high in August is within reach.

On-chain data from IntoTheBlock reveals a significant increase in addresses holding between 1 million and 10 million OM tokens over the past month. This suggests that institutional or whale investors are actively accumulating — a bullish signal often preceding price breakouts.

Such accumulation indicates rising demand for the native token of the MANTRA ecosystem, especially as the platform expands its RWA offerings and compliance-focused infrastructure. If this trend continues into August, OM could not only reclaim its ATH but potentially push toward $2.00.

The combination of real-world utility, strong community support, and macro tailwinds for tokenized assets makes OM a high-conviction pick for the current market cycle.

Solana (SOL): Network Activity Signals Renewed Momentum

Solana continues to solidify its position as a leading smart contract platform, with key network metrics flashing bullish signals. In late July, SOL achieved a new yearly high in open interest, indicating growing participation in leveraged trading and derivatives markets.

At the same time, active addresses on the Solana network hit a three-year high, underscoring robust user engagement across DeFi, NFTs, and meme coins built on its fast and low-cost infrastructure.

Despite reaching $194.40 on July 29**, SOL failed to reclaim the **$200 level, facing strong resistance. It currently trades at $183.41, still 29.6% below its all-time high. However, its relative strength against Ethereum suggests renewed dominance.

At the start of July, 1 SOL = 0.040 ETH. By publication time, that ratio had improved to 0.050 ETH — a 25% outperformance against the second-largest cryptocurrency. This shift highlights investor preference for Solana’s scalability and developer activity.

👉 See how Solana’s ecosystem growth is fueling its next price surge.

If SOL breaks above $200 with strong volume, it could trigger a wave of momentum buying, potentially pushing the price toward **$260** — surpassing its previous ATH. Catalysts such as increased staking adoption, meme coin mania, and institutional interest in Solana-based ETFs could accelerate this move.

With technical strength and fundamental momentum aligning, Solana remains one of the most credible candidates for a new all-time high in August 2024.

Toncoin (TON): Whale Accumulation Fuels Bullish Reversal

Toncoin (TON), the native cryptocurrency of The Open Network, is showing signs of a potential bullish reversal after correcting from its highs. Currently trading at **$6.78**, TON is approximately **17% below its ATH**, having faced strong resistance around $8.33.

However, technical indicators suggest that selling pressure may be exhausting. The Relative Strength Index (RSI) has stabilized in bullish territory, indicating that buyers are regaining control. Price action shows a gradual climb through consolidation, suggesting accumulation before a potential breakout.

If momentum holds, TON could overcome resistance at $7.45** and retest the **$8.33 level. A decisive break above this point would open the path to a new all-time high, driven by continued adoption of Telegram-integrated dApps and growing decentralized exchange volume on TON-based platforms.

Whale activity supports this outlook — large wallets have been steadily accumulating TON, according to Santiment data. This kind of smart money inflow often precedes significant price moves.

While failure to break resistance could delay the rally, the overall structure remains constructive. For investors watching for breakout opportunities, TON offers a compelling risk-reward profile heading into August.

Jupiter (JUP): Supply Burn Proposal Could Trigger Surge

Jupiter (JUP), the utility token of Jupiter Exchange — Solana’s leading DEX aggregator — has emerged as a dark horse candidate for an August breakout. Trading at $1.08**, JUP is far from its **ATH of $2.04, set in January 2024.

However, a major catalyst could change that: a proposed 30% token supply burn. This deflationary mechanism aims to reduce circulating supply, increasing scarcity and potentially boosting price appreciation.

The proposal was expected to be voted on in early August 2024. While results depend on community governance, sentiment appears strongly positive. The RSI has surged, reflecting growing momentum and bullish sentiment among holders.

Historically, JUP has shown explosive volatility — experiencing multiple 100%+ rallies in short periods during Q1 2024. If the burn proposal passes, similar dynamics could unfold, potentially driving JUP toward a new ATH near $2.16.

Given its integral role in Solana’s DeFi ecosystem — routing billions in swap volume monthly — any supply shock could amplify price impact.

👉 Learn how token burns can create powerful price catalysts in crypto markets.

Frequently Asked Questions (FAQ)

Q: What does ATH mean in crypto?
A: ATH stands for "All-Time High" — the highest price an asset has ever reached in its trading history.

Q: Why are altcoins like OM and JUP gaining attention now?
A: These tokens are backed by strong fundamentals, including real-world asset integration, ecosystem growth, and deflationary mechanisms like token burns.

Q: Can Solana surpass Ethereum in market dominance?
A: While Ethereum remains dominant in DeFi and institutional adoption, Solana is gaining ground with faster transactions and lower fees — making it competitive in user activity and developer growth.

Q: How do whale accumulations affect altcoin prices?
A: When large investors accumulate a token, it often signals confidence and reduces available supply, which can lead to upward price pressure.

Q: Is it safe to invest in altcoins near their ATH?
A: Investing near ATH carries higher risk; however, strong on-chain metrics and catalysts can justify further upside if fundamentals support growth.

Q: What role does RSI play in predicting crypto price movements?
A: The Relative Strength Index (RSI) helps identify overbought or oversold conditions. A rising RSI in a consolidation phase often signals building bullish momentum.

Core Keywords:

With strong technical setups, growing adoption, and tangible catalysts on the horizon, these four altcoins represent some of the most promising opportunities in the current market cycle. As August unfolds, traders and investors alike will be watching closely for signs of breakout momentum.