Elastos, Helium, Useless Coin Lead Altcoin Rally with Big Gains

The altcoin market is currently experiencing a period of heightened activity, characterized by significant price movements across various digital assets. This resurgence is being fueled by a combination of factors, including protocol enhancements, strategic shifts in tokenomics, and increased liquidity driven by major exchanges. Amidst this dynamic environment, data from platforms like CoinMarketCap highlights Elastos (ELA), Helium (HNT), and Useless Coin (USELESS) as prominent examples of tokens exhibiting strong upward momentum, each propelled by distinct underlying catalysts.

Elastos (ELA): Stability Integration Drives Momentum

Elastos (ELA) has recently demonstrated robust growth, with its value appreciating by 33% over 24 hours and more than 70% within a week, elevating its market capitalization to $64 million. This rally follows the announcement of BTCD, a Bitcoin-backed stablecoin slated for launch in August 2025. This stablecoin is designed to operate with a substantial 160-200% BTC collateral, aiming to unlock Bitcoin’s liquidity for decentralized finance (DeFi) applications through Elastos’ BeL2 protocol. ELA is poised to become an integral component of the protocol’s reward system. Trading volume also surged by 354% to $8.8 million following the announcement, though an RSI above 70 suggests the asset is nearing overbought conditions. Future adoption metrics for BTCD and the stability of its BTC collateralization will be critical for sustained growth.

Helium (HNT): Deflationary Economics Bolster Valuation

Helium (HNT) has registered a 16% increase over 24 hours and over 10% for the week, primarily due to a strategic dual approach to supply reduction. The network has committed to utilizing 100% of Helium Mobile’s monthly revenues—approximately $2.3 million—for token burning initiatives. This deflationary mechanism coincides with a halving event in August 2025, which will reduce the annual HNT emission rate from 15 million to 7.5 million tokens. Despite these supply-side adjustments, Helium maintains strong utility, evidenced by over 1 million daily active users. Furthermore, a 16% reduction in exchange reserves suggests an accumulation trend, reinforcing the narrative of diminishing supply against steady demand. The long-term sustainability of the burn rate and the pace of supply reduction relative to user growth will be key determinants of HNT’s trajectory.

Useless Coin (USELESS): Exchange Listings Fuel Meme Coin Speculation

Useless Coin (USELESS) experienced a notable 15.5% jump over 24 hours and a 46% rise during the week, pushing its market capitalization to $242 million. This significant price action was largely triggered by its listing on Coinbase on August 20, building on prior support from Binance and Kraken. Daily trading volume for USELESS surged by 33% to $77 million. The broader Solana meme coin sector also saw a collective 10% increase, with social media sentiment playing a crucial role. A viral post on X (formerly Twitter) speculating about a “flippening” against competitor MEMELESS intensified retail trader interest. However, an RSI of 89 indicates the asset is highly overbought, and the concentration of 53% of the supply among the top 100 wallets signals significant whale influence, posing a potential risk should large holders decide to realize profits.

Market Outlook

The performances of Elastos, Helium, and Useless Coin underscore the diverse drivers of momentum within the altcoin market: from fundamental product launches and DeFi integrations to strategic deflationary tokenomics and pure speculative fervor. As Bitcoin’s dominance hovers around 50%, a continued rotation of capital into altcoins remains a plausible scenario. Nevertheless, investors and traders must closely monitor inflows into Bitcoin and Ethereum Exchange Traded Funds (ETFs), as significant capital shifts towards these foundational assets could test the resilience and sustainability of the broader altcoin rally.