🔥 2 cryptocurrencies to reach $10 billion market cap in August
Among them, Chainlink (LINK) and Polkadot (DOT) stand out as prime candidates projected to surpass the $10 billion mark in the coming weeks.
🔸 Chainlink (#LINK )
Chainlink has made considerable strides in enhancing transparency within the cryptocurrency ecosystem. A pivotal development contributing to its bullish outlook is the integration of Chainlink’s proof-of-reserve (PoR) system by 21Shares, a leading issuer of crypto exchange-traded products (ETPs).
The positive sentiment surrounding Chainlink is further amplified by technical analysis by prominent crypto analyst Ali Martinez. Martinez has highlighted the formation of an inverse head and shoulders pattern on LINK’s four-hour price chart.
This pattern, often indicative of a bullish reversal, suggests that Chainlink could experience a significant price turnaround in the coming weeks.
Currently trading at $13.34 with a market cap of approximately $8.11 billion, Chainlink’s ongoing developments and the broader market’s bullish sentiment position it well to surpass the $10 billion market cap milestone.
Despite facing bearish pressure, Polkadot demonstrates robust network fundamentals that could drive its market cap beyond the $10 billion threshold. While DOT’s price recently dropped by over 2% to around $5.59, on-chain metrics remain notably bullish.
Polkadot Subscan shows the daily holder count is at an all-time high of 1.3 million, with 503 new additions in the last 24 hours.
Data from Coinalyze indicates that while open interest remains low, the Long/Short ratio is 2.83, with 73.86% of traders betting long on the asset. This suggests a short-term fear but long-term optimism among investors. Currently, Polkadot has a market cap of approximately $8.03 billion.
The continued network developments, increasing user engagement, and bullish investor sentiment indicate that DOT is well-positioned to overcome its recent price challenges and achieve the $10 billion market cap milestone.
