3 Underrated Altcoins That May Outshine the Market with Their Performance in August 2024

This month, the broader crypto market seemed to be gaining strength in the later half after the drawdown in the 1st week. The changing dynamic after the 1st week helped various altcoins to perform extremely well in the later sessions.

This month, the broader crypto market seemed to be gaining strength in the later half after the drawdown in the 1st week. The changing dynamic after the 1st week helped various altcoins to perform extremely well in the later sessions.

As the market is proceeding higher, investors are looking at a cryptocurrency that may maximize the returns on investment (ROI). Keeping this in mind, we identified underrated cryptocurrencies that bagged impressive returns in the short term.

These underrated altcoins may continue to outshine the market with their performance in August 2024.

Undead Games (UDS), zKML (ZKML) and Lumerin (LMR) have emerged as the top three underrated altcoins. These are set for big gains in August 2024. Let’s dive deeper and analyze them individually.

Underrated Altcoin No. 1: Undead Games (UDS)

Established in early 2022, Undeads Games is a versatile gaming company dedicated to bringing engaging and feature-rich gameplay to the crypto space. The company focuses on developing desktop, web, and mobile games with play-to-earn, play-to-own, and play-to-win mechanics.

By now, Undeads Games has launched the Undeads Rush survival racing game for both desktop and mobile platforms, as well as Undeads Viral for Web3 players. It currently ranks 587th in the cryptoverse, boasting a live market capitalization of $41.663 Million.

Undeads Games grew significantly recently, emerging as a leading asset in the gaming sector. The crypto recorded a notable rise of almost 101% the previous month and over 419% in the last three months.

UDS is down approximately 37.2% this week, making it a potentially good short-term investment. The long term projection for UDS is positive with the anticipation that the price may find support near the 50 day EMA. It may help the crypto reach the heights again.

zKML (ZKML)

zKML is a pioneering crypto project that is transforming digital privacy and security with its innovative solutions. The project places a strong emphasis on user privacy and security, utilizing advanced technologies to protect digital interactions.

Key offerings from zKML include the zKOS operating system and Mobile-zKOS, which ensure secure communication on both desktop and mobile platforms. The native token, ZKML, has a total supply of 100 million tokens.

A closer look at the zKML price highlights that the crypto has outshined its peers like NEAR Protocol & Render among the Artificial Intelligence coins. The weekly price performance stands at 39.9% whereas monthly one at an impressive rise of nearly 315%.

On the higher side, ZKML price may continue to rise until it reaches a major supply zone at $0.000122, suggesting a 50% potential on the higher side. It has a live market capitalization of $24.6 Million and ranks 734th in the crypto market.

Lumerin (LMR)

Lumerin is an open-source protocol and foundational layer that utilizes smart contracts to manage the access, routing, and transaction of P2P data streams. It is currently being used to decentralize and more efficiently allocate AI compute power, enabling novel applications on DePIN and the tokenization of RWAs.

Additionally, Lumerin supports encrypted video and audio streams, permissioned communications, and programmable data streams, as well as digital assets like NFTs. Out of a total 1 Billion LMR token supply, nearly 606.61 Million tokens are currently in circulation.

At the time of writing, Lumerin was exchanging hands at around $0.0216, after an intraday drop of 9.9%. Despite the intraday fall, the crypto counts among the outperformers with an over 105.3% gain intramonth. The daily chart showcases a potential of 52% on the higher side till the 200 day EMA.

The above is the detailed content of 3 Underrated Altcoins That May Outshine the Market with Their Performance in August 2024. For more information, please follow other related articles on the PHP Chinese website!