In a quarter marked by broader crypto market malaise, three tokens – BRETT, Toncoin (TON), and Kaspa’s KAS – emerged as shining stars, outperforming the crypto market bellwether Bitcoin (BTC). These coins, driven by unique factors, showcased resilience and impressive gains despite the overall industry downturn.
Meme Mania Fuels BRETT’s Rise
BRETT, a memecoin native to the Base Chain and inspired by the character of Brett from Boys’ Club comic series, more than doubled to 15 cents, becoming the best-performing digital asset among the top 100 coins by market value. This surge was part of a broader uptrend in the meme coin sub-sector, which rose over 45% in three months, according to DYOR’s Dune-based relative strength crypto narrative tracker.
“The $2.0bn mark is the liquidity wall many of the established meme coins hit before profit-taking and sideways volatility ensue. Of course, for every $1bn higher from there, retail investors will take a lot of momentum and risk-taking (a.k.a Apes) to get these meme coins to the levels of DOGE and SHIB. Let’s see what the Degens can make happen later in this Bull Market cycle,” – Kenny Hearn, Chief Investment Officer at SwissOne Capital
TON’s Telegram Integration Boosts Adoption
Toncoin (TON), the native cryptocurrency of The Open Network (TON), a decentralized, layer-1 network, rose 42% to $7.65, driven by its involvement with the cloud-based mobile and desktop messaging app Telegram. Telegram’s decision to pivot to TON payments for advertisements and the debut of Telegram-based game Notcoin’s digital token were among the key catalysts behind TON’s surge.
“During Q2, the daily active users (DAUs) for TON experienced a significant surge, even surpassing Ethereum. This growth was attributed to the introduction of mini apps, which are decentralized apps embedded into the Telegram messaging app. Notcoin, one of these apps, gained notable traction as users could ‘mine’ Notcoin by simply pressing a button within Telegram,” – Katie Talati, Head of Research at Arca
Kaspa’s Ambitious Blockchain Technology Attracts Investors
Kaspa blockchain’s KAS surged over 35%, driven by its ambitious attempts to solve the blockchain trilemma – the trade-off between scalability, decentralization, and security. Kaspa’s GHOSDAG protocol allows for more asynchronous, parallel transaction processing, enhancing performance and security while retaining the benefits of the Proof-of-Work consensus mechanism.
“It appears this team is on a mission to solving the trilemma (scale, speed, security) through its DAG versus blockchain structure (supporting speed and scalability) while using the security benefits of POW (supporting security). What appears to be a strong “hodler” base meaning low free float it would appear the market is very supportive of this leading-edge technology,” – Kenny Hearn, Chief Investment Officer at SwissOne Capital
As the crypto market navigates through the third quarter, which has historically been the weakest, these tokens’ resilience and unique value propositions suggest that certain sub-sectors, such as AI, gaming, and DeFi, could continue to stand out despite broader market challenges.
