📊 2 cryptocurrencies to reach a $5 billion market cap in September
August was a challenging month for cryptocurrency investors who experienced portfolio losses in an unfavorable overall market performance. With September arriving, Finbold looked into solid cryptocurrencies that could bounce up and reach a $5 billion market cap.
Market capitalization is a popular benchmark for accessing an asset’s nominal value, multiplying the price by its circulating supply. It is particularly important in the cryptocurrency landscape, considering each crypto can have an arbitrary supply and tokenomics.
🔸 Litecoin (#LTC ) to retake the $5 billion market cap
First, Litecoin (LTC) is the closest cryptocurrency to the $5 billion mark, currently with a $4.90 billion market cap. LTC now trades at $65.95 per coin, having traded as low as $61.75 in the last seven days.
With a circulating supply of 74.90 million LTC, the most popular Bitcoin (BTC) fork must trade at $66.75 to reach $5 billion capitalization – an easy 1.21% upward movement.
Notably, Litecoin benefits from lower transaction fees and confirmation time than Bitcoin. It has one of the strongest network effects in the cryptocurrency industry and is highly supported by many service providers.
This increasing demand can fuel Litecoin’s positive performance, not only in September but also during an upcoming bull market.
🔸 Near Protocol’s (#NEAR ) promising September
Second, Near Protocol (NEAR) follows Litecoin in the 24th position by market cap, with a $4.6 billion nominal value. Its native token, NEAR, trades at $4.13 with a 1.1 billion circulating supply and continuous supply inflation.
NEAR traded as high as $4.25 and as low as $3.95 in the last seven days. Essentially, it needs to trade above $4.54 to reach the $5 billion capitalization target.
The Near Protocol offers a highly scalable layer-one network for smart contracts and decentralized applications. Its focus is currently on decentralized artificial intelligence (AI) and chain abstraction, which makes it easier to use the protocol.
