The two tokens could raise up to $1 billion in capitalization in September
Even in such a volatile market, some digital assets are emerging as leaders, showing great growth potential. Two altcoins in particular are likely to raise a significant amount of capital, bringing their market capitalization close to the $1 billion mark as early as September.
Flow (FLOW)
Flow is a decentralized blockchain developed by Dapper Labs and designed for high-speed transactions. It is a developer-friendly environment serving the next generation of digital assets and applications.
The upcoming Crescendo network upgrade, scheduled for September 4, is a critical catalyst for Flow's growth. The goal of this upgrade is to connect Flow to the broader Web3 ecosystem, increasing interoperability and utility.
At its current price of $0.6136 and market capitalization of $937,141,505, Flow needs an increase of just 6.7% to reach the $1 billion mark, which is achievable given current market trends.
Fresh derivatives data supports this optimistic outlook. The growth in trading volume and open interest indicates increased market activity, while the ratio of longs to shorts reflects a strong bias towards long positions.
The MultiversX (EGLD) token, currently valued at $896.41 million, is considered another strong candidate to increase its market capitalization to $1 billion.
The platform is on the cusp of growth driven by the upcoming Spica network upgrade and innovative security features. One of the most promising developments will be the introduction of passwords, a passwordless authentication method that could revolutionize blockchain security.
In addition, MultiversX's partnership with MetaMask to implement two-factor authentication (2FA) on the blockchain with Guardians provides an additional layer of security, protecting users even if their cid-phrases are compromised. advancements are timely and could attract more users to the platform. The developments listed above contribute to MultiversX's movement towards surpassing a market capitalization of $1 billion.