The post 3 cryptocurrencies to reach $100 billion market cap in 2024 appeared on BitcoinEthereumNews.com.

In the occurrence of a bull market in 2024, three cryptocurrencies could reach a $100 billion market cap this year. Previously, we covered low- and mid-cap cryptocurrencies with the potential to reach $1 billion, $10 billion, and $50 billion capitalization. Of course, each of these could further compete for the $100 billion if enough demand enters the scene. In particular, the most likely projects to achieve such a valuation in a lower time frame are the ones already closer to the hundred-billionth. Moreover, high supply inflation may contribute to an increased market cap even if the price remains unchanged. Solana (SOL) could reach a $100 billion market cap In particular, Solana (SOL) is a $48.12 billion market cap cryptocurrency with upside potential considering its recent growth. Solana’s relevancy has increased among other cryptocurrencies, and its decentralized finance (DeFi) ecosystem challenges Ethereum’s (ETH). Notably, institutional investors have shown interest in its solution for a more scalable and efficient Web3. SOL is highly backed by Venture Capitalists (VCs) and financial giants. Solana (SOL) market cap and price data. Source: CoinMarketCap A run to a $100 billion market cap would result in nearly 108% capitalization gains, possibly impacting its price. However, Solana’s token is known for its large yearly supply inflation of over 17%. This characteristic will diminish the capitalization surge effects on the unitary price of SOL. XRP set to overcome the $1 per token Second, XRP is a strong candidate to reach the hundred-billionth mark, moving from its current $30.25 billion market cap. Its focus on remittance and institutional partnerships could fuel adoption. Meanwhile, Ripple’s monthly token unlocks and occasional extra sell-offs may propel the capitalization through circulating supply inflation. XRP market cap and price data. Source: CoinMarketCap A run to a $100 billion market cap would result in nearly 230%…

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Filed under: News - @ February 17, 2024 2:22 pm