By the conclusion of 2024 two cryptocurrencies set to achieve a market capitalization of 1 billion
In the midst of recent fluctuations in the market, certain digital assets are emerging as promising candidates for significant growth in the near future. While the overall market may be stagnant, some altcoins are demonstrating resilience and showcasing notable potential. Supported by solid fundamentals, increasing community engagement, and other advantageous factors, these cryptocurrencies could see a substantial rise if the bullish trend continues.
### Notable Insights
A senior commodity strategist has pointed out how Bitcoin’s recent decline has revealed vulnerabilities in the U.S. stock market. Additionally, prediction markets are currently estimating a 51% chance of victory for Kamala Harris over Donald Trump. Meanwhile, Bitcoin is undergoing its third ‘parabolic advance,’ with discussions circulating around the possibility of reaching $250,000. Ethereum bulls are targeting $4,000, even as analysts caution about a potential ‘major rebound.’
According to Finbold, two specific assets are anticipated to draw significant capital inflows by the close of 2024, bringing them closer to the $1 billion market cap milestone, which they are already approaching.
### Fantom (FTM)
Fantom (FTM), trading at $0.3417, currently holds a market cap of around $958 million. Despite facing a tough Q2, which saw a 46.71% quarter-over-quarter decline in its market cap from $3.19 billion to $1.7 billion, Fantom has experienced impressive year-over-year growth, maintaining a market cap that is 94% higher than it was in Q2 2023.
The drop can be attributed largely to the widespread downturn in the cryptocurrency market and the rebranding of the Fantom Foundation to Sonic Labs. However, recent strategic initiatives, including the Ecosystem Vault and Gas Monetization program, could reignite growth as on-chain activity begins to increase.
A notable decrease in Fantom’s transaction fee burn rate from 30% to 5%, along with the reallocation of these funds, is expected to encourage more network activity, thereby boosting revenue and demand for the token. Furthermore, a rebound in on-chain activity towards the end of Q2, evidenced by an increase in active addresses and transactions, indicates potential bullish momentum. If these favorable trends persist, Fantom is well-poised to exceed the $1 billion market cap by the end of 2024.
### Helium (HNT)
Helium (HNT), currently priced at $5.99, has exhibited impressive resilience, with its market cap nearing $970 million. Helium has carved out a niche as a leader in decentralized physical infrastructure networks (DePIN), which has driven its recent growth—especially through collaborations with traditional carriers and the expansion of its physical infrastructure to nearly 16,000 hotspots.
The adoption rate for Helium has surged, with over 108,000 subscribers on its unlimited plan, indicating a robust growth phase. This expanding user base, paired with solid customer retention and new revenue avenues from mobile carrier partnerships, suggests that Helium’s upward trajectory is likely to remain strong. Should this momentum continue, Helium is well-positioned to surpass the $1 billion market cap threshold by year-end.
### Conclusion
In summary, both Fantom and Helium are on promising paths toward achieving a $1 billion market cap by the end of 2024. With Fantom’s resurgence in on-chain activity and strategic initiatives, along with Helium’s strong subscriber growth and infrastructure expansion, both are well-placed to capitalize on emerging opportunities within the digital asset landscape. Investors should keep a close watch on these projects as they evolve and potentially reach new heights.
### Disclaimer
The information provided on this site should not be interpreted as investment advice. Investing carries risks and is speculative in nature. Always be aware that your capital is at risk when investing.