Roughly two weeks ago, Bitcoin (BTC) was valued at $69,000, and the total worth of the cryptocurrency market was approximately $2.3 trillion. However, the situation has since changed, with BTC’s price dropping below $60,000. Despite the overall market stagnation, there are expectations for some altcoins to demonstrate growth and surpass the significant milestone of a $10 billion market value. Among the numerous contenders, we have examined two for July. Let’s explore them together.
Polkadot (DOT) and Analyst Commentary
At present, with a market value of $8.74 billion and trading at around $6.08, Polkadot (DOT) is one of the top cryptocurrencies poised to achieve a $10 billion market value in July. Known for its interoperability and efforts in decentralized applications, the native token of the Polkadot network has experienced a 6% increase in the past 7 days despite the recent declines. Additionally, developments in the RWA sector for DOT are anticipated to have a positive impact on the price. According to renowned cryptocurrency analyst Michael Van De Poppe, DOT could follow Ethereum in experiencing a surge, leading to a significant price increase.
Chainlink (LINK) Price Outlook
Currently, with a market value of $8.29 billion and trading at around $13.60, Chainlink (LINK) is another cryptocurrency with the potential to reach a $10 billion market value in a short time. Although Chainlink’s price movements have shown a 23% decrease 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. Partnerships with leading US financial institutions such as The Depository Trust and Clearing Corporation (DTCC), JP Morgan (NYSE: JPM), and BNY Mellon highlight Chainlink’s potential.
Considering all factors, it appears more likely than overly optimistic that these two cryptocurrencies, which need to increase by less than $2 billion, will reach a $10 billion market cap in July. However, it is important to note that price drops and further declines in market cap could occur in scenarios where events impacting the global economy arise.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.