2 Cryptocurrencies Poised to Reach $100 Billion Market Cap in September
1. BNB Chain (BNB): A Strong Contender
Currently priced at $597 with a market cap of $78 billion, BNB is on track to reach a $100 billion market cap due to several key factors:
- Binance’s Market Re-Entry in India: Binance’s recent re-entry into the Indian market has reignited interest in BNB, boosting its utility and investment appeal.
- Rising Total Value Locked (TVL): The Total Value Locked on Binance Smart Chain (BSC) surged from $3.6 billion to $4.27 billion in just two weeks, highlighting growing confidence in the platform.
- Bullish Sentiment in Derivatives Markets: Data from Coinglass shows rising open interest and favorable long/short ratios, signaling trader optimism about BNB’s price potential. A notable 8.15% rise in options open interest further underscores positive market sentiment.
These developments, coupled with Binance’s strategic moves and growing market momentum, create a solid foundation for BNB’s climb to the $100 billion mark by September.
2. Solana (SOL): Rapid Growth Fueled by Key Developments
Solana, with a market cap of $65.77 billion, is also nearing the $100 billion milestone thanks to several recent advances:
- Spot Solana ETF Approval in Brazil: On August 8, the approval of a spot Solana ETF in Brazil triggered a significant rally, attracting institutional investment and driving up Solana’s market cap.
- Surge in Network Activity: Solana’s active addresses hit a record 54.33 million in July, reflecting a 151% growth since the start of the year. This rise in activity, partly driven by memecoin launches, indicates a growing ecosystem.
- Increasing Utility and Transactions: The platform recorded 1.3 billion non-vote transactions in July, showcasing its expanding utility beyond speculation.
