August was a tough month for cryptocurrency investors, who suffered portfolio losses amid weak overall market performance. As September approaches, Finbold has his eye on the trusted cryptocurrencies that could surge to reach a $5 billion market cap.
Market cap is a popular benchmark for assessing the nominal value of an asset, multiplying the price by its circulating supply. This is especially important in the cryptocurrency landscape, given that each cryptocurrency can have an arbitrary supply and tokenomics.
In this article, we have selected two of the most likely projects to break the $5 billion market cap threshold in September. However, there is no guarantee that this will happen, and the performance of each cryptocurrency will depend on many factors in the future.
Litecoin (LTC) to Regain $5 Billion Market Cap
Firstly, Litecoin (LTC) is the cryptocurrency closest to the $5 billion mark, currently with a market cap of $4.90 billion. LTC is currently trading at $65.95 per coin, down to $61.75 over the past seven days.
With a turnover of 74.90 million LTC, the most popular Bitcoin (BTC) fork would need to trade at $66.75 to reach a market cap of $5 billion – a slight increase of 1.21%.
In particular, Litecoin benefits from lower transaction fees and confirmation times than Bitcoin. It has one of the strongest network effects in the cryptocurrency industry and is widely supported by many service providers.
Moreover, LTC has shown solid growth among these providers as one of the most popular means of payment. Finbold reported some of these gains according to data from Bitpay, Coingate and, most recently, Bitrefill.
Growing demand could drive Litecoin’s positive momentum not only in September but also during the upcoming bull market.
A Promising September from Near Protocol (NEAR)
Secondly, Near Protocol (NEAR) follows Litecoin at 24th place by market cap with a notional value of $4.6 billion. Its native token, NEAR, trades at $4.13 with a circulating supply of 1.1 billion and constant supply inflation.
Over the past seven days, NEAR has traded as high as $4.25 and as high as $3.95. In fact, it needs to trade above $4.54 to reach its $5 billion market cap target.
Near Protocol offers a highly scalable layer-one network for smart contracts and decentralized applications. Its current focus is on decentralized artificial intelligence (AI) and chain abstraction, making the protocol easier to use.
In summary, both Litecoin and Near are close to reaching a market cap of $5 billion in September, recovering from the August crash. However, the market is unpredictable, and these assets may still experience further negative dynamics, despite the promising scenario.
Disclaimer: The content of this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
