2 cryptocurrencies to reach $5 billion market cap in July 
Cryptocurrency Jul 6, 2024 Share
The cryptocurrency market has recently seen a downturn, with many altcoins on the verge of recovery. This sentiment is particularly beneficial for cryptocurrencies approaching significant market cap milestones.
In this context, Finbold has identified Polygon (MATIC) and Uniswap (UNI) as the cryptocurrencies with the potential to hit the $5 billion mark in July.
Polygon (MATIC)
Polygon (MATIC) has been a critical player in the Ethereum (ETH) scaling solution space, providing a layer-2 solution that improves transaction speeds and reduces costs.
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Despite a recent 32% drop in value over the past month, MATIC has shown signs of a potential bullish reversal. A recent analysis identified a falling wedge formation on the MATIC/USDT trading pair, which is typically a bullish reversal pattern.
Polygon price and market cap. Source: CoinMarketCap
If MATIC breaks out from this formation, it could lead to significant upward price movements. Moreover, as the broader crypto market recovers, investor confidence and trading volumes are expected to increase, driving MATIC’s price higher.
The ongoing demand for efficient Ethereum scaling solutions further solidifies MATIC’s position for growth. Given these factors, MATIC is well-positioned to surpass the $5 billion market cap milestone, making it a compelling buy for investors looking to capitalize on its recovery potential.
Uniswap (UNI)
Uniswap (UNI) is a leading decentralized exchange platform in the DeFi space, facilitating seamless token swaps without the need for intermediaries. UNI has recently shown a 5% increase in its daily chart despite market volatility, indicating resilience.
UNI price and market cap. Source: CoinMarketCap
Earlier this year, UNI was a standout performer, but recent declines in transactional activity on the Uniswap platform have impacted its valuation. However, the partnership between Uniswap Labs and Transak, which facilitates fiat purchases of crypto directly in the Uniswap Wallet, according to sources, is a significant development.
This integration is expected to increase user adoption and transactional activity, driving higher trading volumes and liquidity on the platform.
As DeFi continues to grow, platforms like Uniswap that offer decentralized trading will benefit from increased user engagement and innovation. These factors make UNI a strong candidate to surpass the $5 billion market cap milestone and a promising investment for traders looking to benefit from the DeFi market’s expansion.
For MATIC and UNI to hit the $5 billion market cap milestone, favorable market conditions are essential. This includes a broader market recovery, increased investor confidence, higher trading volumes, and ongoing demand for their respective solutions.
As the crypto market slowly stabilizes and grows, these cryptocurrencies are well-positioned to achieve their potential and offer substantial returns for investors.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
