2 Cryptocurrencies to Reach $100 Billion Market Cap in August
BNB Chain (BNB)
- Market Cap: $88 billion
- Current Price: $597
- Analysis:
- Technical indicators are displaying bullish patterns, suggesting increased buying pressure and a positive outlook.
- BNB has recently surpassed key resistance levels, including the 200-day EMA, indicating further price appreciation.
- With increased trading volume and a significant market recovery, BNB is positioned well for growth.
- If it can break through resistance levels at $610, $633, and $675, reaching a price of approximately $680, a $100 billion market cap is achievable by the end of August.
- Binanceâs recent court approval to invest customer fiat funds in US Treasury Bills has boosted market confidence.
- This, coupled with Binanceâs compliance with regulatory requirements and resolution of legal issues, has alleviated investor concerns.
Solana (SOL)
- Market Cap: $79 billion
- Current Price: $172
- Analysis:
- Solana has shown strong bullish resilience, breaking above its bearish trendline.
- The key $175 resistance level is within reach, and surpassing it could propel SOL to higher levels such as $188 and $205.
- This potential for upward movement is supported by a significant increase in trading volume and positive technical indicators, signaling strong buying pressure.
- Solanaâs fundamentals are robust. The Total Value Locked (TVL) in its DeFi projects has reached $5 billion, and the market cap for stablecoins on its blockchain stands at $3.268 billion, reflecting growing investor confidence and adoption.
- SOLâs price surge has positively impacted its meme coin ecosystem, with an average increase of 12.4%.