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Top 5 Altcoins To Watch out for in August 2022

top altcoins

With the month of July ending on a reasonably positive note, it forces investors and traders to rethink their investments in the crypto market to make the most of the potential oncoming recovery. The past three weeks of the month of July have been quite rewarding tho extremely high risk-takers who bought at the right time, near the bottoms and managed to ride the rally up. But now, with the month of August beginning, which coins hold the most potential?

Before moving onto the top altcoins in August 2022 by market cap, let us understand what altcoins are. Very simply, an ‘altcoin’ refers to any crypto other than Bitcoin. So by that definition, Ethereum is the most popular altcoin followed by Binance Coin and the likes.

Now the question that arises is why do we need so many altcoins? Well, that is because Bitcoin, the grandfather of all cryptos was good at somethings but missed out on some very crucial elements of a value transferring system. Ethereum, the most popular altcoin – also known as the second generation of cryptos – introduced programmable money in the forms of smart contracts. But even Ethereum had a few issues with gas fees and scalability thus a bunch of other blockchains were introduced like Solana and the likes.

With that concept cleared up, let us move forward to the next crucial aspect for an investor – which ones should I buy? There are many ways to actually go about choosing your own collection of cryptos – it could be simply by looking at the market cap and picking the biggest ones out there. Of course, that is a viable strategy but could result in drawdowns too.

However, this blog will list out five of the top altcoins in August 2022 by market cap that, when put together forms a well balanced and hedged crypto portfolio that can provide great returns over the long term. These coins have different use cases and utilities that bring about that sense of hedge against downside risk in any one particular token, thus maximise returns over the long term. So here are the top altcoins in August 2022 by market cap. 

Altcoins 2022 Launch Founder Native Token Market Cap Token Type Circulating Supply Max Supply Consensus Method
ETHEREUM July 2015 Vitalik Buterin ETH $203 Billion (2) Platform Token 121 Million ETH N/A Proof-of-Work
AVALANCHE September 2020 Emin Gün Sirer AVAX $6.6 Billion (14) Utility Token 284 Million AVAX 720 Million AVAX Proof-of-Stake
UNISWAP November 2018 Hayden Adams UNI $6 Billion (17) Utility Token 744 Million UNI 1 Billion UNI Proof-of-Stake
CHAINLINK May 2019 Sergey Nazarov LINK $3.5 Billion (23) Utility Token 469 Million LINK 1 Billion LINK Proof-of-Stake
APECOIN April 2022 Yuga Labs APE $2.1 Billion (32) Governance Token 306 Million APE 1 Billion APE Proof-of-Work

Prices as of 1 August, 2022

Additional Read: Top Cryptos to Watch this Week

Now, let’s dive a little deeper, shall we?

1. Ethereum (ETH)

Well, practically everybody knows about this coin, and is popularly known as the altcoin king. Anyone who is even faintly aware of what crypto is in today’s day and age, knows what Ethereum is. However, what many wouldn’t know the secret behind how it became the second largest crypto by market cap.

According to definitions, Ethereum is a decentralized blockchain platform that works on a peer-to-peer network that securely executes and verifies application code, called smart contracts. In fact, Ethereum was the first smart contract platform in the crypto world, and is heralded as the ‘second generation’ of cryptos.

So smart contracts are the reason why this token features on the list of top altcoins by market cap. Smart contract is basically a functionality of a blockchain network that allows participants to transact with each other without a trusted central authority in accordance to a few pre-established rules. Transaction records are immutable, verifiable, and securely distributed across the network, giving participants full ownership and visibility into transaction data – as is with all blockchain networks.

This token was built by Vitalik Buterin and launched in July, 2015. It currently uses the proof-of-work (PoW) consensus mechanism, inspired from the grandfather of cryptos – Bitcoin but is actually in the process of transitioning to the more environment conscious proof-of-stake (PoS) consensus mechanism. This is being called the ‘Ethereum Merge’ and will usher in the next phase of Ethereum that fully runs on PoS and expected to be fully completed between August and September of 2022.

Also read: Ethereum Merge Update

Ethereum’s price action has been quite exemplary over the past month, having rallied over 65% from the beginning of July. It has gone from a little over $1000 to over $1700 now and technical structures indicate prices can go up further in this altcoin. It is currently ranked #2 on CoinMarketCap according to its market cap.

Key features:


Avalanche is an Ethereum-based sidechain – it is a blockchain network that describes itself as an open, programmable smart contracts platform for decentralised applications. This altcoin has various uses ranging from paying transaction fees and can even be staked to secure the network. Avalanche is compatible with Solidity, Ethereum’s programming language, and can be used to deploy custom private or public blockchains as “subnets.”

This network was founded by Emin Gün Sirer in September 2020, this became very popular amongst Ethereum sidechains thanks to its unique functional structure. It basically works on a network that consists of three components – the the Platform Chain (P-Chain) which coordinates validators and the creation of subnets, the C-Chain for the creation of smart contracts, and the X-Chain for managing and exchanging assets.

The past month of July has been also quite good for this altcoin too. From the beginning of July, this particular crypto has managed to recover over 55% after bottoming out near $15.5 and now is currently trading around $24.5. This features on the top altcoins by market cap at #14 on CMC by market cap.

Key features:

  • One of the fastest transaction speeds offered by a blockchain network – over 45,000 transactions per second
  • Unlike Ethereum, AVAX has a cap on the total supply, and thus the scope for increase in value over time
  • AVAX can be used to pay transaction fees and even be staked to earn rewards
  • AVAX is built using the same programming language as Ethereum – Solidity
  • It has far greater scalability functions than Ethereum

Additional Read: AVAX Price Prediction


Quite different from most other coins on this list, Uniswap is a crypto exchange which uses a decentralised network protocol. Uniswap is the name of the company that initially built the blockchain network to perform this function. The protocol is responsible for automated transactions between crypto exchanges on the Ethereum blockchain through the use of smart contracts. The Uniswap DEX employs the use of an automated market maker (AMM), meaning that it uses decentralised liquidity pools which are powered by smart contracts

At one point back in 2020, amid the bull run the crypto market – Uniswap had grown to become the largest decentralised crypto exchange and the fourth largest crypto exchange overall, in terms of trading volumes.

Uniswap was created by Hayden Adams and launched in November 2018. It quickly became extremely popular among those wanting to trade through a decentralised crypto exchange to avoid governmental interference and regulation.

But despite its popularity and use, this altcoin has been the hardest hit crypto in this entire list, having fallen over 93% from its all-time highs. However, it began its recovery slightly before rest of the tokens on this list, and even from the beginning of July has managed to recover a staggering 93% to its local highs before correctly slightly and is still trading at 75% up from its July lows. This features on the top altcoins by market cap at #17 on CMC by market cap.

Key features:


This is yet another blockchain network that was built with a very unique purpose in mind. Chainlink is a crypto that aims to incentivise a global network of computers to provide reliable, real-world data to smart contracts running on top of other blockchain networks.

Simply put, smart contracts on blockchains tend to need information from outside the network. These data items can include prices of assets, weather, interest rates and the likes – for any kind of smart contract. That’s where these oracle networks come in, to basically become a conduit of information into the smart contract in a decentralised manner. For example, smart contracts seeking to replicate bonds or insurance agreements may need access to APIs reporting on market prices or Internet of Things data.

So to solve this problem, Chainlink was created – to create a network by incentivising data providers – also known as oracles – to act as a bridge between the blockchain smart contracts and external data sources.

So far, it has been one of the poorer performers out of this lot, having rallied hardly 30% in the recovery that happened all through the month of July 2022. However, that doesn’t indicate any possible reason that the token isn’t good or isn’t being valued. This is definitely a token that will receive investor interest going forward as the recovery continues and can provide healthy returns thanks to its near monopoly in the sector it is operating in. This features on the top altcoins by market cap at #23 on CMC by market cap.

Key features:


ApeCoin, one of the recent entrants in the crypto metaverse and NFT space was airdropped to BAYC holders back in 17 March, 2022. Despite being the latest, it has taken the space by storm and has become the largest metaverse token in the crypto market right now, according to market cap.

Just after it was launched, the creator of Bored Ape Match Club NFT collection – Yuga Labs announced that would be launching a metaverse crypto project running with the ApeCoin token. This news, which broke towards the end of April 2022 catapulted the value of the token and for a while it had become the largest metaverse coin by market cap.

This is basically a governance token for the BAYC metaverse called Otherside that it is now governed by a DAO and anyone holding the coin is allowed to cast their vote on the relevant governance decisions. This features on the top altcoins by market cap at #32 on CMC by market cap. It also gives holders access to exclusive games, events, merchandise and services. It can also be used for payments via the Ethereum blockchain thanks to it being a ERC-20 token. APE too has managed to gain over 63% from the beginning of the month of July, going from around $4 to now near $7.

Key features:

Additional Read: Apecoin Price Prediction


Today investing in these Ethereum NFT project tokens is extremely simple with the CoinDCX App! Just download the CoinDCX App crypto investing app, enter the details required and wait for your profile to get verified. Once done, fund your wallet and buy any of the coin of your choice.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to

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