Happycoin.club - By mid-2024, the crypto space appears to be poised for a massive bull cycle.
The continued bullish sentiment is particularly beneficial for several cryptocurrencies that are approaching the major $10 billion market cap milestone.
Two cryptocurrencies can exceed this threshold; their choice is dictated not only by a stable bullish state, but also by high supply inflation, which can lead to an increase in market capitalization.
NEAR Protocol (NEAR) The NEAR Protocol (NEAR) is poised for significant growth, thanks to being the leading blockchain for popular applications and processing millions of transactions daily.
With a current price of $7.81 and a market capitalization of $8.42 billion, NEAR is focused on providing open access to AI results and increasing scalability, including sharding, which strengthens its crypto asset's position in the market.
NEAR's trading activity has increased sharply in recent months, with an increase in open interest signaling potential price increases.
Near Protocol Price and Market Cap. Source: CoinMarketCap
Despite the market downturn, NEAR has shown resilience, up 13% over the past month and 113% year-to-date, in line with the general trend among artificial intelligence tokens.
Technical indicators are bullish, with NEAR trading well above its 200-day simple moving average, hovering between $6.71 and $8.68.
The next resistance level is at $9.59, and a break above it could lead to $11.56.
NEAR's scalable and decentralized application developer-friendly environment, coupled with the protocol's focus on artificial intelligence and big data, increases the chances of this crypto asset to grow.
Polygon (MATIC) Polygon (MATIC) is truly making waves with its intuitive Ethereum (ETH) scaling solutions. However, Polygon's short-term price outlook looks lackluster as most indicators point to consolidation.
Polygon's cryptocurrency, currently valued at $0.7174 with a market capitalization of $7.10 billion, saw a modest 3% gain over the past week.
Polygon Price and Market Cap. Source: CoinMarketCap
Polygon is currently trading near the resistance level at $0.72 and holds support at $0.60. Breaking this resistance could push Polygon's price towards $0.84.
Its sought-after Layer 2 scaling solution and growing institutional interest are key growth drivers. Despite the market decline after a strong first quarter, Polygon is ready for recovery and aims to return to the $1 mark soon.
To reach a $10 billion market cap, the Polygon ecosystem must sustain its growth through technological advancements and strategic partnerships. Its strong foundation and market appeal position it well to achieve this goal.
The first half of 2024 will be a crucial period for NEAR Protocol and Polygon as they approach $10 billion in market capitalization.
It is worth noting that, despite strong fundamentals, the likelihood of the above-mentioned cryptocurrencies reaching $10 billion in capitalization will largely depend on whether the market maintains its current bullish momentum.
