As the first half of 2024 draws to a close, the crypto space appears poised on the brink of a massive bull cycle.
This ongoing bullish sentiment is particularly beneficial for several cryptocurrencies approaching significant market cap milestones, including the notable $10 billion mark.
Finbold has identified two cryptocurrencies likely to surpass this threshold. These predictions hinge not only on the continuation of the bull run but also on the potential benefits of high supply inflation, which could lead to an increased market cap even if price movements remain minimal.
NEAR Protocol (NEAR)
NEAR Protocol (NEAR) is poised for significant growth, driven by its role as a leading blockchain for mainstream applications, processing millions of transactions daily.
With a current price of $7.81 and a market cap of $8.42 billion, NEAR’s focus on democratizing AI ownership and enhancing scalability, including sharding, strengthens its market position.
Recent months have seen NEAR’s trading activity soar, with increased demand in the open interest market signaling potential price rises.
Near Protocol price and market cap. Source: CoinMarketCap
Despite market downturns, NEAR has shown resilience, up 13% over the last month and 113% year-to-date, aligning with broader AI token trends.
Technical indicators are bullish, with NEAR trading well above its 200-day simple moving average (SMA), currently fluctuating between $6.71 and $8.68.
The next resistance level is at $9.59, and breaking this could target $11.56.
NEAR’s developer-friendly, scalable environment for decentralized applications, combined with its focus on AI and big data, makes it a strong candidate for growth.
Polygon (MATIC)
Polygon (MATIC) is making waves with its user-friendly Ethereum (ETH) scaling solutions. However, the short-term outlook for Polygon’s price appears bleak, with most indicators suggesting consolidation.
Currently priced at $0.7174 with a market cap of $7.10 billion, Polygon has seen a modest 3% increase over the past week.
Polygon price and market cap. Source: CoinMarketCap
Trading near a resistance level of $0.72 and maintaining support at $0.60, breaking this resistance could push Polygon towards $0.84.
Its sought-after Layer 2 scaling solution and rising institutional interest are key growth drivers. Despite a market downturn after a strong first quarter, Polygon is poised for recovery, aiming to reclaim the $1 mark soon.
To reach a $10 billion market cap, Polygon must sustain its growth, driven by technological advancements and strategic partnerships. Its robust foundation and market appeal position it well for this target.
The first half of 2024 is set to be a crucial period for NEAR Protocol and Polygon as they edge closer to the $10 billion market cap milestone.
It’s worth noting that despite being supported by several fundamentals, the possibility of the highlighted cryptocurrencies reaching the $10 billion mark will largely depend on whether the market maintains a bullish momentum.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk
The post 2 cryptocurrencies to reach $10 billion market cap in the first half of 2024 appeared first on Finbold.