Analysis

2 cryptocurrencies to reach $100 billion market cap in April

For the cryptocurrency market, April is a critical month because of the Bitcoin (BTC) halving event, which is expected to spark optimistic trends that will spread to the larger industry. The industry is experiencing a long-term bullish feeling as the month goes on, and a number of digital assets are exhibiting potential for persistent buying pressure that might have an effect on their market capitalization.

Several assets are in position for possible rallies as they approach the $100 billion market capitalization benchmark. Finbold has therefore determined which two cryptocurrencies are most likely to cross that threshold.

These assets are getting close to that barrier, and how they develop will rely on a number of variables, including supply inflation and the bull market’s longevity.

BNB

The market capitalization of BNB, the native token of Binance, might reach $100 billion depending on how quickly the exchange expands. This could lead to a rise in demand for BNB and consequent purchasing pressure. In addition to being the native token of the biggest cryptocurrency exchange globally, a number of factors have the potential to raise BNB above $100 billion.

For example, by lowering the total supply, Binance’s burning mechanism—in which it buys back and burns tokens on a regular basis—may help boost BNB’s value and market capitalization.

Furthermore, the BNB Chain ecosystem’s activity can help it continue on its path to a $100 billion market valuation. Positive indicators from the first quarter, including revenue, profitability, and BNB’s price, might be critical if they continue in April BNB’s valuation.

The BNB token had a pullback on March 16 after hitting a multi-year high of $632.80 on March 16, amid prevailing positive emotions. Consequently, persistent bullishness in the market may result in more purchasing pressure.

With a market valuation of about $87 billion as of right now, BNB has a good chance of reaching the $100 billion milestone by the end of April with just a 14% gain. With daily losses of less than 1%, BNB was trading at $585 as of the most recent update.

Solana (SOL)

Solana (SOL) stands out for its durability, which has the potential to propel the company’s market capitalization above $100 billion. Despite frequent network disruptions, Solana’s resiliency is shown because it is still trading above the $170 support zone.

The excitement around meme coins that were introduced to the network and the record-breaking decentralized exchange (DEX) trade volume—which amounted to almost $60 billion—have already spurred the platform’s expansion.

Furthermore, as long as the network shows a dedication to fixing its continuous breakdowns, investor trust in Solana is probably going to increase. CEO of Solana Anatoly Yakovenko expressed his understanding of the annoyance that the current blockchain congestion bugs have generated, but he also pointed out that fixing these problems is more difficult than fixing complete failures in liveness. The deployment process is slowed down by these issues, which necessitate intensive testing and modifications.

Additionally, a positive impact on Solana’s price is anticipated from the impending Bitcoin halving. On April 20, the day of the Bitcoin halving, Changelly, a cryptocurrency exchange and analytics platform, predicts that Solana might reach $321. This analysis considers market trends, historical price data, and the general perception of Solana.

Solana’s value at the time of publication was $178, indicating daily gains of around 2%.

It’s crucial to emphasize that, although having a variety of solid foundations, the aforementioned cryptocurrencies’ chances of breaking the $100 billion milestone mostly depend on the persistence of positive market momentum.

Notice: Nothing on this website should be construed as investment advice. Investing is a risky endeavor. Investing involves a risk to your capital.

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