As the cryptocurrency market shows signs of recovery, several digital assets are approaching important market cap marks.
Among them, Chainlink (LINK) and Polkadot (DOT) stand out as the leading candidates that are projected to cross the $10 billion mark in the coming weeks.
These forecasts are based not only on the continuation of the bullish trend, but also on factors such as high supply-side inflation, which can drive market capitalization higher even with minimal price fluctuations.
Chain link (LINK)
Chainlink has made significant strides in increasing transparency in the cryptocurrency ecosystem. A key development contributing to its bullish outlook is the integration of Chainlink’s proof-of-reserve (PoR) system by 21Shares, a leading issuer of cryptocurrency exchange-traded products (ETPs).
Positive sentiment around Chainlink is further strengthened by technical analysis from a renowned crypto analyst Ali Martinez. Martinez highlighted the formation of an inverted head and shoulders pattern on the 4-hour LINK price chart.
This pattern, which often indicates a bullish reversal, suggests that Chainlink could experience a significant price reversal in the coming weeks.
Chainlink shares are currently trading at $13.34, with a market cap of approximately $8.11 billion. Chainlink’s current development and broader bullish market sentiment are positioning the company to surpass the $10 billion market cap mark.
A combination of increased transparency, upbeat technical indicators and general market optimism are key factors behind this potential growth.
Polkadot (DOT)
Despite the bearish pressure, Polkadot is showing solid network fundamentals that could push its market cap beyond the $10 billion threshold. While DOT’s price has recently fallen more than 2% to around $5.59, on-chain metrics remain remarkably bullish.
Polkadot Subscan shows that daily holders have reached a record high of 1.3 million, with 503 new holders added in the last 24 hours.
Data from Coanalyze indicates that while open interest remains low, the Long/Short ratio is 2.83, with 73.86% of traders long the asset. This suggests short-term fear but long-term optimism among investors. Polkadot currently has a market cap of approximately $8.03 billion.
Continued network growth, growing user engagement, and optimistic investor sentiment indicate that DOT is well positioned to overcome recent price woes and reach the $10 billion market cap mark.
The ongoing bullish sentiment in the cryptocurrency market, coupled with significant developments in the Chainlink and Polkadot ecosystems, is setting the stage for these digital assets to reach the $10 billion market cap mark in August.
Investors should keep a close eye on these cryptocurrencies as they move toward these important milestones.
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