5 Altcoins on the Rise as Crypto Market Gears Up for August

The crypto market is gearing up for a busy month of August, with several major blockchain upgrades, ETF developments, and product launches on the horizon. As analyst Michaël van de Poppe notes, these events could put a handful of altcoins in focus before the next major market move.

Solana (SOL) tops the list as the lowest-risk pick for August. The network is set to roll out its Agave 4.2 client from August 17, bringing faster block times and reduced transaction costs. However, on-chain analyst Ali Martinez reports that the number of wallets holding at least 0.1 SOL has dropped 5% over the past two weeks.

Bittensor's TAOUSD is ranked second due to growing institutional interest in decentralized AI. Both Grayscale and Bitwise have ETF filings tied to TAO under SEC review, with analysts viewing August as an important period for updates. Van de Poppe predicts that Bittensor will rally above $250 within the next 4-6 weeks.

Cardano (ADA) is also approaching a key regulatory milestone on August 9, six months since CME Cardano futures launched. This allows exchanges to pursue a spot ADA ETF under the SEC's streamlined framework. Grayscale's ETF application remains under review.

Stacks has introduced one of Bitcoin's biggest utility upgrades with its PoX 5 activation. The network plans to launch its Genesis Bond later this month, enabling users to earn Bitcoin-denominated rewards while maintaining self-custody of their BTC. Avantis rounds out the list as the highest-risk opportunity, launching Version 2 on August 12 and introducing new trading features.