Aerodrome Finance (AERO) currently has a bullish sentiment of 89%, the highest in the market, according to CoinMarketCap.
Santiment data also reveals that the social discussion volume of AERO in August reached an all-time high, reflecting growing investor interest in the project.
The positive sentiment aligns with the price rally of AERO. Since the beginning of August, its price has risen by 80%, from $0.72 to $1.32.
Since Coinbase integrated Aerodrome's decentralized exchange (DEX) into its main app, Aerodrome now handles 48.3% of the DEX volume on Base. It has even surpassed big names like Uniswap and Pancakeswap.
Additionally, Aerodrome announced that its 24-hour trading volume on DEX reached $1 billion, while total fees exceeded $250 million.
These milestones have strengthened investor confidence. Many expect prices to continue rising in August. A recent analysis suggested that AERO could rise to $1.85 if favorable conditions persist.
CoinMarketCap data shows that Kaspa (KAS) also had a bullish sentiment of 89% in August despite its disappointing price performance.
KAS has been on a rollercoaster. Its price went from $0.08 to $0.10, then fell back to $0.085. However, the community remains bullish for reasons beyond price action.
The main driver is the anticipated launch of Kasplex L2 on August 31. This update will pave the way for smart contract applications. Layer 2 will bring new utilities to the KAS ecosystem, enabling decentralized applications and scaling the network.
The testnet already shows strong engagement, with over 270,000 active wallet addresses and 14 million transactions processed.
This momentum has attracted new investor interest, as reflected in the increase in Google search trends for the project.
Adding to the excitement, a well-known investor in X, Sjuul, recently highlighted the strong support from the Kaspa community.
"Competing with Bitcoin is difficult, but there seems to be a large community of $KAS users. After searching multiple sources, we found that Kaspa reaches an estimated 25k daily users, with over 540,000 unique users on the network. In total, over 197M transactions and counting, the Kaspa network seems to be gaining traction. But the question is, can it handle mass adoption?" said Sjuul.
CoinMarketCap data shows that the Sonic (S) community is also bullish, with an 83% positive sentiment in August.
At the same time, Sonic's total value locked (TVL) has fallen by 60%, from over $1 billion in May to $415 million in August. Still, investors remain optimistic due to new developments. A highlight was co-founder Andre Cronje's fundraising call for the Flying Tulip DEX.
Flying Tulip is built entirely on Sonic's Layer 1 blockchain. Its goal is to provide a high-performance, fully-featured decentralized exchange. This development is bullish for S as it expands Sonic's DeFi toolkit and could attract advanced traders.
In August, Sonic also announced that its Testnet 2.1 integrated Ethereum's Pectra upgrade, which includes EIP for gas optimization and account abstraction. The project promises to launch its mainnet soon.
These positive updates boosted sentiment towards Sonic, although its price has only gained a modest 13% since the beginning of the month.
These three altcoins each have unique reasons behind the bullish sentiment. Sometimes this optimism does not directly translate into price rallies. Nevertheless, it remains an important factor for investors to consider when rebalancing portfolios.
