2 Cryptocurrencies to Reach $10 Billion Market Cap in August
Chainlink (LINK)
Chainlink has made significant progress in enhancing transparency within the cryptocurrency ecosystem. A key development is the integration of Chainlink’s proof-of-reserve (PoR) system by 21Shares, a leading issuer of crypto exchange-traded products (ETPs). This integration has bolstered positive sentiment around Chainlink.
Prominent crypto analyst Ali Martinez has identified the formation of an inverse head and shoulders pattern on LINK’s four-hour price chart. This pattern is often indicative of a bullish reversal, suggesting a potential price increase for Chainlink in the near future.
Current Price: $13.34
Current Market Cap: Approximately $8.11 billion
The combination of enhanced transparency, technical bullish indicators, and overall market optimism positions Chainlink well to surpass the $10 billion market cap milestone.
Polkadot (DOT)
Despite facing bearish pressure, Polkadot showcases robust network fundamentals that could propel its market cap beyond $10 billion. While DOT’s price recently dropped by over 2% to around $5.59, on-chain metrics remain notably bullish.
Polkadot Subscan reports that 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 a Long/Short ratio of 2.83, with 73.86% of traders betting long on the asset. This suggests short-term fear but long-term optimism among investors.
Current Price: $5.59
Current Market Cap: Approximately $8.03 billion
The continued network developments, increasing user engagement, and bullish investor sentiment suggest that Polkadot is well-positioned to overcome its recent price challenges and achieve the $10 billion market cap milestone.