2 cryptocurrencies to reach $1 billion market cap by September
2 cryptocurrencies to reach $1 billion market cap by September 
Cryptocurrency Aug 24, 2024 Share
As the cryptocurrency market recovers after a period of volatility, certain digital assets are emerging as frontrunners, demonstrating both resilience and strong growth potential.
While the broader market shows signs of recovery, specific altcoins are standing out due to their robust fundamentals, innovative developments, and increasing community interest.
Among these, a few cryptocurrencies are positioned to make significant waves in the coming weeks. With crucial upgrades on the horizon, these digital assets are gearing up for a potential breakout.
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In this context, Finbold has identified two such assets that are likely to attract considerable capital inflows, propelling them closer to the $1 billion market cap milestone, a threshold they are already nearing and are set to reach by September.
Flow (FLOW)
Flow (FLOW) is currently positioned to reach a $1 billion market cap, driven by its robust ecosystem and favorable market conditions.
Developed by Dapper Labs, Flow is a decentralized blockchain designed for high-speed transactions and a developer-friendly environment, catering to the next generation of digital assets and applications.
FLOW Market Cap. Source: CoinMarketCap
The upcoming Crescendo network upgrade, scheduled for September 4th, is a critical catalyst for Flow’s growth. This upgrade aims to connect Flow to the broader Web3 ecosystem, enhancing its interoperability and utility.
At its current price of $0.6136 and a market cap of $937,141,505, Flow requires a modest 6.7% increase to hit the $1 billion mark, a target well within reach given the current market trends.
Recent derivatives data further supports this bullish outlook. A notable increase in trading volume and open interest indicates heightened market activity, while long/short ratios on major platforms like Binance reveal a strong bias toward long positions.
The liquidation of short positions suggests that short sellers are being squeezed out, creating additional upward pressure on Flow’s price. With these positive signals and the impending network upgrade, Flow is well-positioned to achieve the $1 billion market cap in the near term.
MultiversX (EGLD)
MultiversX (EGLD), currently valued at $896.41 million, is another strong candidate for the $1 billion market cap.
The platform is on the brink of substantial growth, driven by its upcoming Spica network upgrade and innovative security features. One of the most promising developments is the introduction of passkeys, a password-free authentication method that could revolutionize security on the blockchain.
MultiversX Market Cap. Source: CoinMarketCap
Additionally, MultiversX’s partnership with MetaMask to introduce on-chain two-factor authentication (2FA) via the Guardians feature provides an extra layer of security, protecting users even if their seed phrases are compromised.
As Bitcoin starts gaining momentum, trading experts are highlighting MultiversX as a key altcoin to watch, given its strong fundamentals and upcoming developments as reported by Finbold.
Given the rising concerns over crypto-phishing scams, these advancements are timely and could attract more users to the platform. Given these developments, MultiversX is well on its way to surpassing the $1 billion market cap, driven by increased adoption and investor confidence.
In the face of recent market challenges, Flow and MultiversX stand out as cryptocurrencies with significant growth potential.
With their upcoming upgrades and market presence, both assets are well-positioned to reach the $1 billion market cap by September.
Investors should keep a close watch on these developments, as continued bullish momentum could propel these digital assets to new heights.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk
