2 cryptocurrencies to reach $1 billion market cap by the end of 2024 
Cryptocurrency Aug 11, 2024 Share
Amid recent market turbulence, certain digital assets are emerging as strong contenders for substantial growth in the near term.
Despite the broader market’s stagnation, specific altcoins are demonstrating resilience and showing significant potential.
Backed by robust fundamentals, growing community interest, and other favorable factors, these cryptocurrencies could experience a surge if bullish momentum persists.
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Finbold has identified two such assets likely to attract considerable capital inflows by the end of 2024, propelling them closer to the $1 billion market cap milestone – a threshold they are already nearing.
Fantom (FTM)
Fantom (FTM), currently trading at $0.3417, boasts a market cap of approximately $958 million.
Although it faced a challenging Q2, with a 46.71% quarter-over-quarter (QoQ) decrease in its market cap from $3.19 billion to $1.7 billion, Fantom’s year-over-year (YoY) growth remains strong, with its market cap still 94% higher compared to Q2 2023.
Fantom market cap. Source: CoinMarketCap
The decline was largely due to the broader cryptocurrency market downturn and the Fantom Foundation’s rebranding to Sonic Labs. However, recent strategic initiatives, including the Ecosystem Vault and Gas Monetization program, could reignite growth as on-chain activity picks up.
A significant reduction in Fantom’s transaction fee burn rate from 30% to 5%, along with the reallocation of these funds, is expected to stimulate more network activity, boosting revenue and token demand.
Additionally, a late-Q2 recovery in on-chain activity, marked by a reversal in declining active addresses and transactions, indicates potential bullish momentum. If these positive trends persist, Fantom is well-positioned to surpass the $1 billion market cap by the end of 2024.
Helium (HNT)
Helium (HNT), currently trading at $5.99, has shown remarkable resilience with a market cap nearing $970 million.
Helium’s unique role as a pioneer in decentralized physical infrastructure networks (DePIN) has fueled its recent growth, particularly through partnerships with traditional carriers and an expanding physical infrastructure that now includes nearly 16,000 hotspots.
Helium market cap. Source: CoinMarketCap
Helium’s adoption rate has accelerated rapidly, with over 108,000 subscribers on its unlimited plan, reflecting a robust growth phase.
This expanding user base, along with strong customer retention and new revenue streams from mobile carrier collaborations, suggests that Helium’s upward trajectory is likely to continue.
If this momentum is sustained, Helium has a strong chance of crossing the $1 billion market cap threshold by the year’s end.
In conclusion, both Fantom and Helium are on promising trajectories toward achieving a $1 billion market cap by the end of 2024.
Fantom’s recovery in on-chain activity and strategic initiatives, coupled with Helium’s robust growth in subscribers and infrastructure expansion, position them well to capitalize on emerging opportunities in the digital asset space.
Investors should closely monitor these projects as they continue to develop and potentially reach new milestones.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.