Two cryptocurrencies expected to achieve a 25 billion market capitalization in the latter half of the year
The world of digital currencies remains unpredictable, heavily influenced by various economic factors. Recent job growth data in the U.S. has surpassed expectations, indicating that the economy is adapting well to higher interest rates. This suggests that there may not be any rate cuts in the near future, affecting the flow of money into riskier investments such as cryptocurrencies.
Against this backdrop, Finbold has highlighted two cryptocurrencies that are expected to reach a market cap of $25 billion by the second half of the year. These predictions are contingent on the continuation of the current upward trend and the potential benefits of high supply inflation, which could boost market caps even with minimal price fluctuations.
Dogecoin (DOGE) currently boasts a market cap of $21 billion. Despite facing significant downward pressure recently and dropping below $0.15 for the first time in June 2024, recent blockchain activity suggests that this decline may be temporary. Notably, there has been a considerable increase in whale activity on the Dogecoin blockchain, with over 150 transactions involving more than $1 million each in a single day. This surge in whale transactions indicates that major investors are buying Dogecoin at current prices, potentially setting the stage for a price recovery.
Toncoin, a Layer-1 cryptocurrency closely associated with Telegram, has seen a rally of over 6.5% amidst broader market trends. Trading at $7.18 with a market cap of $17.4 billion, Toncoin’s surge is supported by the introduction of a new in-app currency called Stars, linked to the cryptocurrency. Stars will enable users to purchase digital goods and services across all mini-apps on Telegram, creating a crypto-powered ecosystem.
Both Dogecoin and Toncoin have the potential to surpass the $25 billion market cap mark, depending on market conditions and continued investor interest. While there are positive indicators for both cryptocurrencies, reaching this milestone will ultimately rely on the overall market maintaining its bullish momentum.
Please note that the information provided in this article is not investment advice, and investing in cryptocurrencies carries inherent risks.
