The cryptocurrency market is showing a mixed picture for traders and investors as we approach the end of 2024. The market is witnessing sharp fluctuations, presenting opportunities as well as challenges. Some altcoins stand out due to their strong fundamentals, upcoming updates, and growing community support. According to crypto expert Aneena Alex, these altcoins are heading towards major market cap targets as signs of stability begin to emerge in the market. In this regard, the expert shares two tokens that are set to reach new milestones.
The first cryptocurrency: Horizen (ZEN)$ZEN
Horizen is gaining momentum rapidly, targeting a $1 billion market cap by 2025. ZEN is currently valued at $582 million, according to CoinMarketCap. The token is up 157% in the past week, with over $320 million in trading volume in the past 24 hours. This increase reflects increased institutional interest, with Grayscale’s private issuance of 304,034 ZEN tokens worth $4.71 million and its Form 8-K filing with the SEC. This rise is also supported by increased market confidence and interest from investors looking to take advantage of regulated investment vehicles. Horizen had its last halving in December 2024 and plans to switch from Proof of Work to Proof of Stake in 2025, which could cap the token supply and boost its value. Experts predict that ZEN could reach $50 by March 2025, and as adoption and demand increase in the meantime, it seems possible that its market value could reach $1 billion.
Second place Conflux (CFX)$CFX
Conflux currently has a market cap of $800 million but is gaining significant momentum as it approaches $1 billion. The cryptocurrency is supported by a trading volume of $53.67 million and has gained 8.31% in the last 24 hours. The 11.49% increase in open interest (currently $33.88 million) highlights the growing investor interest and confidence in CFX. CFX long positions are dominant on Binance, with the long/short ratio exceeding 2:1, indicating bullish sentiment among traders. As the market begins to recover and demand for Conflux increases, the token is expected to reach a market cap of $1 billion.