These 2 Popular Cryptocurrencies Could Reach $10 Billion Market Cap in May
As May 2024 progresses, the cryptocurrency market continues to feel the ripple effects of April's Bitcoin (BTC) halving event, which has traditionally been a bullish catalyst for both Bitcoin and the broader cryptocurrency landscape
This ongoing bullish sentiment is especially beneficial for many cryptocurrencies that are approaching major market cap milestones, including $10 billion. Here are two cryptocurrencies that are likely to exceed this threshold. These predictions are based not only on the continuation of the bull run, but also on the potential benefits of high supply inflation, which could lead to increased market value even if price movements remain minimal.
In this context, Polkadot (DOT) and Polygon (MATIC) are two cryptocurrencies projected to reach the $10 billion market cap milestone.
Known for its interoperability features and expanding parachain ecosystem of individual blockchains connecting to and operating within the Polkadot network, DOT is well positioned for significant growth. Continuous evolution of the network and increased adoption of cross-chain applications can significantly increase market value.
Polkadot founder Gavin Wood recently introduced the Gray Paper, which outlines the upcoming Joint Aggregation Machine (JAM) upgrade for the network. This protocol is a decentralized hybrid system designed to deliver secure and scalable smart contract functions, integrating certain features of Ethereum into the architectural framework of Polkadot, thereby increasing its utility.
DOT reversed the downward trend, rising nearly 3% to $7. However, as of the time the news was published, it dropped to $6.56.
