Top Altcoins Showing Strength Ahead of Next Rally

The altcoins market remains under pressure, but several projects continue to develop their networks. These projects expand use cases and launch new products. Projects Solana, PUMP, BNB and SUI are among the altcoin drawing attention. Investors look for projects that continue building during the downturn.

Solana Upgrade Could Boost Network Activity

Solana is preparing its Agave 4.2 upgrade, with feature activations expected during the week of August 17. The first testnet step is expected to reduce slot times from about 400 milliseconds to 350 milliseconds. The longer-term target is 200 milliseconds.

Storage costs are also expected to fall by around 90% through several stages. This will give developers more room to build larger applications.

Solana’s payment activity is growing too. July reportedly became a record month for Solana crypto-card spending, reaching around $69.5 million. Meanwhile, Santiment also reported $8.8 million in daily net ETF inflows, the strongest since May 12. 

Michaël van de Poppe said SOL needs to hold the $73.5-$74 support area. With targets toward $120 remaining intact if that level holds.

PUMP Rally Comes With a Supply Risk

PUMP has gained more than 30% over the past week and nearly 90% over the past month. Pump.fun continues generating revenue, with 50% being used to buy back and burn PUMP tokens.