Two weeks ago, Bitcoin (BTC) was trading at $69,000, and the total value of the cryptocurrency market was approximately $2.3 trillion. However, BTC’s price suddenly dropped below $60,000. Despite the market’s general stability, some altcoins are expected to show signs of growth and exceed the significant milestone of a $10 billion market value. For July, we have identified two potential candidates. Let’s explore them together.
Polkadot (DOT) and Analyst Commentary
Currently valued at $8.74 billion and trading at around $6.08, Polkadot (DOT) is one of the leading cryptocurrencies that could reach a $10 billion market value in July. Renowned for its interoperability and contributions to decentralized applications, Polkadot’s native token has experienced a 6% increase in the past 7 days, despite the recent market declines. Additionally, developments in the RWA sector for DOT are anticipated to have a positive impact on its price. According to cryptocurrency analyst Michael Van De Poppe, DOT has the potential to emulate Ethereum’s rise, leading to a significant price surge.
Chainlink (LINK) Price Outlook
With a market value of $8.29 billion and trading at around $13.60, Chainlink (LINK) is another cryptocurrency that could achieve a $10 billion market value in the near future. Although Chainlink has experienced a 23% drop in the last 30 days, there was a 0.21% increase in the last 7 days and a 2.58% drop in the last 24 hours. Notably, Chainlink’s partnerships with prominent US financial institutions such as The Depository Trust and Clearing Corporation (DTCC), JP Morgan (NYSE: JPM), and BNY Mellon highlight its potential for growth.
Considering all factors, these two cryptocurrencies are within striking distance of reaching a $10 billion market cap in July. However, it’s important to acknowledge the potential for price drops and further declines in market cap in the event of global economic factors. As always, investors should conduct their own research as cryptocurrencies carry high volatility and risk.
