š 2 Cryptos to reach $1 billion market cap by the end of 2024
Amid recent market turbulence, certain digital assets are emerging as strong contenders for substantial growth in the near term.
Despite the broader marketās 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.
šø 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, Fantomās year-over-year (YoY) growth remains strong, with its market cap still 94% higher compared to Q2 2023.
The decline was largely due to the broader cryptocurrency market downturn and the Fantom Foundationās 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 Fantomās 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.
šø Helium (#HNT )
Helium (HNT), currently trading at $5.99, has shown remarkable resilience with a market cap nearing $970 million.
Heliumās 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.
Heliumās 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 Heliumās upward trajectory is likely to continue.
