Two cryptocurrencies expected to reach 10 billion market cap in the latter half of the year
Last week was a rollercoaster ride for the cryptocurrency market, with a promising start followed by a downward trend as the week came to a close. Initially, experts were optimistic about Bitcoin (BTC) hitting new highs, but the release of strong U.S. job data on Friday shifted the mood, causing a dip in the crypto markets.
Despite the fluctuations, some cryptocurrencies are edging closer to significant market cap milestones, with the noteworthy $10 billion mark in sight. Finbold has pinpointed two cryptocurrencies that are likely to surpass this threshold, based on market conditions and the potential benefits of high supply inflation.
One of these cryptocurrencies is Polkadot (DOT), currently trading at $6.34 with a market cap of $9.14 billion. It is poised to reach a $10 billion market cap by the end of the year. Despite market uncertainties, Polkadot’s ecosystem is expanding, with key projects like Energy Web, Xcavate, and Phyken Network showcasing its growing influence in the blockchain space.
Polkadot’s integration of Real-World Assets (RWAs) and the upcoming release of Polkadot 2.0 demonstrate its commitment to innovation and widespread adoption. The increasing adoption of Polkadot’s Software Development Kit (SDK) for asset tokenization further solidifies its market position, making the $10 billion market cap a feasible goal.
Another cryptocurrency with potential is Chainlink (LINK), currently trading at $14.87 with a market cap of $8.73 billion. Despite recent fluctuations, Chainlink’s innovative developments and collaborations with major financial institutions like JP Morgan and BNY Mellon position it well to achieve a $10 billion market cap soon.
The success of projects like Smart NAV, which showcased Chainlink’s interoperability protocol in standardizing and disseminating net asset value (NAV) data across blockchains, highlights its role in enabling on-chain use cases. With strong industry support and real-world applications, Chainlink is on track to reach a $10 billion market cap.
While these cryptocurrencies show promise, their ability to hit the $10 billion mark will ultimately depend on market conditions. It’s important to note that investing in cryptocurrencies is speculative and comes with risks.
