Two cryptocurrencies expected to achieve a market capitalization of 1 billion in July
The cryptocurrency market has experienced a rollercoaster ride in the past week, with sharp declines followed by brief recoveries. However, despite these fluctuations, there are certain cryptocurrencies that continue to show strong growth potential. Finbold has identified two of these cryptocurrencies that may surpass the $1 billion market cap threshold in July.
One of these cryptocurrencies is Quant (QNT), which is a platform designed to integrate multiple distributed ledger technologies (DLTs) by eliminating communication barriers between them. The main issue that Quant aims to address is the low adoption of DLTs, as users often lack the technical means to migrate their data between different DLTs. This prevents them from choosing the best option for their needs. As of the latest data, Quant is trading at $76.24 with a market cap of $920,481,307. Although it had been stuck within a descending range, it recently showed signs of a strong rebound. The volume has remained at average levels, indicating moderate trader involvement. However, a significant price rebound from the lower support of the wedge suggests a potential breakthrough. Despite consistent lower highs and lows in its price, the latest rebound fueled by increased buying pressure indicates a trend reversal. The MACD levels have undergone a bullish crossover with a slight rise in buying volume, suggesting that the QNT price might break above the current consolidation. Given these indicators, Quant has the potential to surpass the $1 billion market cap if the bullish momentum continues.
The second cryptocurrency identified by Finbold is Flow (FLOW), the native token of the Flow blockchain created by Dapper Labs. Flow is essential for powering decentralized applications (dApps) and digital assets and aims to provide a high-performance, user-friendly platform that tackles scalability without sacrificing decentralization. Flow has recently shown an uptrend, with its price rising from previous lows. As of the latest data, Flow is trading at $0.6143, marking a 1-day increase of 1.06% and a market cap of $928,724,525. The recent price movement indicates strong buying pressure and a bullish market sentiment. Although the price faced resistance and retraced to $0.6206 after reaching a peak at $0.6156, the RSI at 34.75 suggests that Flow is in oversold territory, potentially indicating a buying opportunity. The MACD line is slightly above the signal line, with the histogram indicating slight bullish momentum. If the current trend continues, Flow is well-positioned to achieve the $1 billion market cap.
Both Quant and Flow have significant growth potential in the current volatile market conditions. Quant’s innovative approach to DLT interoperability and Flow’s robust platform for decentralized applications make them strong contenders to achieve a $1 billion market cap. Investors and traders should closely monitor these assets, as their underlying fundamentals and positive market sentiment could drive substantial gains in the coming months. However, it is important to conduct thorough research and exercise caution when navigating the dynamic cryptocurrency market.
Disclaimer: The content on this site should not be considered investment advice. Investing in cryptocurrencies is speculative, and there is a risk of losing capital.
