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The encryption market is turning bullish, and these three types of altcoins deserve attention

2026-08-04 00:22:34
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Arbitrum (ARB)

Source: Trading View

Arbitrum continues to prove that strong network growth does not always translate into price increases immediately. Although ARB is facing heavy selling pressure, activity across the ecosystem remains healthy. Robinhood Chain was launched in early July based on Arbitrum technology and quickly achieved remarkable results. During the peak period of activity, daily trading volume exceeded US$500 million. The transaction volume exceeded 17 million in the first week. User adoption has also accelerated, with more than 350,000 active addresses joining the network. Network expansion continues to unfold in the field of decentralized finance. Arbitrum climbed to eighth place among all blockchain networks in terms of total locked position value, reaching approximately $1.2 billion. The platform also leads all Layer 2 networks in Aave v3 lending activity, with approximately US$728 million in lockups.

Ethena (ENA)

Source: Trading View

Ethena has a higher risk than many mature projects. Even so, institutional support gives ENA unique investment value. BlackRock recently integrated USDe into the Aladdin risk management platform. This adoption highlights the growing confidence of large financial institutions. Janus Henderson has also increased ENA exposure and plans to use pledged USDe for treasury cash management. Existing relationships with Anchorage Digital and Securitize further enhance institutional credibility. Another potential catalyst remains of great concern. A proposed fee conversion mechanism could transform ENA from a mere governance token. According to this model, agreement revenue will flow directly to token pledgers.

Ethereum (ETH)

Source: Trading View

Ethereum continues to trade near a long-term trend line that has supported prices since late 2022. The same region helped prevent a significant sell-off in April 2025. As market sentiment improves, many traders are now watching this support closely. Technical indicators also showed abnormal conditions. Ethereum recently recorded the lowest relative strength index reading in history. This level usually means strong selling pressure, although historical data shows further declines sometimes occur before the recovery begins. Key price levels will remain important in the coming weeks. If it breaks below support, ETH could fall towards an April low of about $1,510. If Bitcoin weakens further, another round of decline could extend to $1,380.

Arbitrum provides strong network growth despite continued token dilution. Ethena combines institutional support with a potential revenue sharing catalyst. Ethereum remains a leading market indicator and faces important technical levels. As bullish conditions continue to develop, these three projects deserve close attention.

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