The post 2 cryptocurrencies to reach $100 billion market cap in August appeared on BitcoinEthereumNews.com.

The cryptocurrency market experienced a notable surge in the second half of July, led by a powerful rally in Bitcoin (BTC). This bullish trend was driven by significant events, including the German government’s completion of a $3.5 billion Bitcoin selloff and the defunct Mt. Gox exchange successfully repaying 65% of its creditors, reducing supply pressure. Renewed investor confidence was evident as significant investments flowed into Bitcoin Exchange Traded Funds (ETFs), highlighting strong market sentiment. Amid this positive environment, several altcoins are on the brink of reaching significant milestones, with some assets nearing the $100 billion market cap threshold and poised for potential rallies.  Finbold has identified two cryptocurrencies, BNB Chain (BNB)  and Solana (SOL), that are likely to surpass this mark by the end of August. BNB Chain (BNB) BNB, the native token of Binance, priced at $597 with a market cap of $88 billion, shows strong potential to reach a $100 billion market cap by the end of August.  Technical indicators are displaying bullish patterns, suggesting increased buying pressure and a positive outlook. BNB has recently surpassed key resistance levels, including the 200-day EMA, indicating further price appreciation. BNB market cap. Source: CoinMarketCap With increased trading volume and a significant market recovery, BNB is positioned well for growth. If it can break through resistance levels at $610, $633, and $675, reaching a price of approximately $680, a $100 billion market cap is achievable by the end of August. Fundamentally, Binance’s recent court approval to invest customer fiat funds in US Treasury Bills has boosted market confidence.  This, coupled with Binance’s compliance with regulatory requirements and resolution of legal issues, has alleviated investor concerns.  The approval has led to a notable price recovery, pushing BNB toward the $600 level. With the continuation of bullish technical trends and positive market sentiment,…

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Filed under: News - @ July 20, 2024 6:26 pm