As May 2024 unfolds, the cryptocurrency market continues to feel the ripple effects of the Bitcoin (BTC) halving event from April, traditionally a bullish catalyst for both Bitcoin and the broader cryptocurrency landscape.
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 that are 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.
Polkadot price and market cap. Source: CoinMarketCap
According to a price prediction by Coincodex, DOT is expected to reach $8.07 by May 5, 2024, which would represent a 29.38% increase within the next five days.
DOT price prediction. Source. Coincodex
To achieve a $10 billion market cap, Polkadot would need to see an approximate increase of 6% from its current market capitalization of $9.44 billion, indicating a realistic possibility that could significantly impact its overall price trajectory.
Polygon (MATIC)
MATIC currently holds a market capitalization of $6.62 billion, with its price hovering around $0.6702.It has experienced significant fluctuations recently but remains a focal point in the crypto market due to its core technology that enhances Ethereum’s (ETH) scalability and reduces transaction fees.
Despite recent declines, Polygon’s strategic position within the Ethereum ecosystem offers substantial upside potential. As Ethereum continues to dominate the blockchain space, the adoption of Polygon’s solutions could drive its market cap closer to the $10 billion milestone, signaling a promising horizon for MATIC.
Polygon price and market cap. Source: CoinMarketCap
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
