These two cryptocurrencies could reach a market value of $1 billion by the end of the year

Amid the recent turmoil in the cryptocurrency market, some digital assets are emerging as strong candidates for significant growth in the near term. While the overall market is stagnant, certain altcoins are demonstrating resilience and considerable upside potential.

With solid fundamentals, growing community interest, and other favorable factors, these cryptocurrencies could see a sharp rise if the bullish momentum continues. Two such assets, identified by Finbold, are close to reaching the $1 billion market cap mark. According to the analysis, the cryptocurrencies in question could reach this milestone by the end of 2024.

Cryptocurrencies with potential

Fantom (FTM), currently trading at $0.3417 with a daily gain of 0.4%, has a market cap of approximately $958 million. Despite facing a challenging second quarter, with a 46.71% drop in market cap from $3.19 billion to $1.7 billion, Fantom’s year-over-year growth remains robust, with a 94% increase compared to Q2 2023.

The drop in value is largely related to the slowdown in the cryptocurrency market as a whole. However, recent strategic initiatives such as the Ecosystem Vault and the gas fee monetization program could reignite growth as on-chain activity increases.

A significant reduction in Fantom’s transaction burn rate from 30% to 5%, along with the reallocation of these funds, could stimulate more activity on the network. This should increase revenue and demand for the token.

Furthermore, the recovery in on-chain activity towards the end of Q2, marked by a reversal in the decline in active addresses and transactions, indicates a potential bullish momentum. If these positive trends continue, Fantom could surpass the $1 billion mark in market cap by the end of 2024.

Helium (HNT)

Meanwhile, Helium (HNT), currently trading at $6.67, up 7.5% daily, has shown remarkable resilience. Its market cap is close to $970 million. Helium’s unique role as a pioneer in decentralized physical infrastructure (DePIN) networks has fueled its recent growth, especially through partnerships with traditional operators.

The adoption rate of Helium cryptocurrency has been accelerating rapidly, with over 108,000 subscribers on its unlimited plan. This expanding user base, coupled with strong customer retention and new revenue streams from collaborations with mobile operators, suggests that Helium’s upward trajectory is set to continue.

If this dynamic continues, the Helium cryptocurrency has a good chance of crossing the $1 billion market value threshold by the end of the year.

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