Amid recent market turmoil, some digital assets are emerging as serious contenders for significant growth in the near term.
Despite the overall market stagnation, individual altcoins are showing resilience and showing significant potential.
With strong fundamentals, growing community interest, and other favorable factors, these cryptocurrencies could see a surge if the bullish trend continues.
Finbold identified two such assets that are likely to attract significant capital inflows by the end of 2024, bringing them closer to the $1 billion market cap mark, a threshold they are already approaching.
Phantom (FTM)
Fantom (FTM), currently trading at $0.3417, boasts a market cap of around $958 million.
While the company had a tough second quarter, with its market cap down 46.71% quarter-on-quarter (from $3.19 billion to $1.7 billion), Fantom’s year-over-year growth remains strong, with its market cap still 94% higher than Q2 2023.
The decline was largely due to the broader cryptocurrency market downturn and the Fantom Foundation’s rebranding as Sonic Labs. However, recent strategic initiatives, including the Ecosystem Vault program and Gas Monetization, could see a return to growth as network activity picks up.
The significant reduction in Fantom’s transaction fee burn rate from 30% to 5%, as well as the redistribution of these funds, is expected to stimulate greater network activity, increasing revenue and demand for tokens.
Additionally, the recovery in network activity at the end of Q2, marked by a reversal in the decline in active addresses and transactions, points to potential bullish momentum. If these positive trends continue, Fantom has a good chance of surpassing a $1 billion market cap by the end of 2024.
Helium (HNT)
Helium (HNT), currently trading at $5.99, has shown remarkable resilience, with its market cap approaching $970 million.
Helium’s unique role as a pioneer in decentralized physical infrastructure networks (DePIN) has fueled its recent growth, particularly through partnerships with incumbents and an expanding physical infrastructure that now includes nearly 16,000 access points.
Helium’s adoption rate is growing rapidly, with over 108,000 subscribers to its unlimited plan, indicating a steady growth phase.
An expanding user base, high customer retention rates and new revenue streams from mobile operator partnerships suggest that Helium’s upward trajectory is likely to continue.
If this momentum continues, Helium has every chance of breaking the $1 billion market cap threshold by the end of the year.
In conclusion, both Fantom and Helium are on promising trajectories to reach $1 billion market cap by the end of 2024.
Fantom’s resurgence of network activity and strategic initiatives, coupled with steady subscriber growth and expansion of Helium’s infrastructure, positions them well to capitalize on emerging opportunities in the digital asset space.
Investors should keep a close eye on these projects as they continue to evolve and potentially reach new heights.
Disclaimer: The content of this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
