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2 cryptocurrencies to reach $5 billion market cap in the first half of 2024

2 cryptocurrencies to reach $5 billion market cap in the first half of 2024

As the cryptocurrency market rebounds from a recent downturn, investor sentiment is shifting positively, suggesting a potential upswing.

This surge is anticipated to push several altcoins beyond the $5 billion market cap mark, signifying a major milestone in their valuation and influence within the broader cryptocurrency landscape.

Finbold has highlighted two cryptocurrencies likely to surpass this threshold. These assets are nearing the milestone, with their trajectory dependent on the continuation of the bull run and factors like supply inflation. 

High supply inflation could increase their market cap even if their prices remain unchanged.

Aptos (APT)

Aptos (APT) recently set a new record in daily transaction volume, reaching 115 million transactions in a single day, surpassing Solana (SOL) and Sui (SUI) networks. The platform demonstrates impressive scalability, handling 32,000 transactions per second (TPS).

A key driver of this activity is the game Tapos Cat, which has significantly increased network usage.

Aptos price and market cap. Source: CoinMarketCap

Aptos is also expanding its ecosystem with strategic partnerships and integrations in the DeFi and NFT markets. Despite recent price volatility, its resilience and robust infrastructure support future growth. At press time, Aptos is trading at $9.14 with a market cap of $3.99 billion.

Render (RNDR)

Render (RNDR) offers blockchain-based rendering services for content creators and developers, driving its unique market appeal. Despite price fluctuations, Render has shown a steady upward trend, with a 23% increase in the past month and a 5% rise in the last week. 

This momentum has pushed its market cap considerably.

Render price and market cap. Source: CoinMarketCap

One of the reasons for the surge in price for AI tokens such as RNDR was the success of Nvidia (NASDAQ: NVDA). Nvidia’s achievements in the AI sector have significantly boosted market confidence, driving substantial gains for these tokens.

Recently, a position trader booked an estimated $13.2 million (345%) profit from Render. Nvidia’s progress in AI has led to significant gains for AI tokens, particularly after its earnings call.

Render’s growing ecosystem includes new partnerships and integrations with major digital content platforms and decentralized applications (dApps). This expansion enhances its utility and market presence. 

Currently, Render is trading at $10.02 with a market cap of $3.89 billion, showing strong potential to surpass its all-time high set in March 2024. 

Key technical indicators suggest continued upward momentum, making Render a compelling investment ahead of the anticipated market upswing.

As these platforms continue to innovate and expand their use cases, achieving a $5 billion market cap seems increasingly likely.

It’s worth noting that despite being supported by several fundamentals, the possibility of the highlighted cryptocurrencies reaching the $5 billion mark will largely depend on whether the market maintains a bullish momentum.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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