finbold.com
As May 2024 progresses, the cryptocurrency market is experiencing the ripple effects of the Bitcoin (BTC) halving event that took place in April—a key event often seen as a bullish catalyst for Bitcoin and the broader cryptocurrency landscape.
This positive sentiment is proving advantageous for several cryptocurrencies nearing significant market cap milestones, particularly the $1 billion mark. Despite the prevailing market trends, certain assets are showing strong potential for growth, supported by robust underlying fundamentals.
Building on this trend, Finbold has identified two cryptocurrencies poised to attract a substantial capital inflow in May 2024, potentially propelling them toward the $1 billion market cap milestone. Notably, these assets are already approaching this significant threshold.
Tezos (XTZ)
Tezos (XTZ), a blockchain platform known for its focus on security, decentralized governance, and scalability, is nearing a market cap of $910 million. Currently priced at $0.9277, marking a 4.50% increase over the last day, the ecosystem has shown notable activities.
Recently, the Tezos Foundation has partnered with Magic to enhance the onboarding process for decentralized applications (dApps). This will integrate Magic’s wallet solutions with the Tezos blockchain to improve user experiences, particularly by simplifying the processes for web3 applications.
Furthermore, Rarible, a key player in the digital marketplace space, is set to incorporate Tezos on its aggregated platform. This development underscores Tezos’ expanding influence and adoption in the NFT and broader digital asset markets.
Despite a challenging market environment, Tezos has shown resilience. According to CoinCodex, Tezos is expected to see a 6.54% price increase, potentially reaching around $1.020 by May 31.
The Fear & Greed Index stands at 66, pointing to strong market interest in Tezos. Over the last 30 days, these indicators highlight its robust fundamentals and the strong support it continues to receive from its community and developers.
JasmyCoin (JASMY)
JasmyCoin (JASMY) , which integrates IoT and blockchain technologies to empower users with data sovereignty, is currently demonstrating promising growth with a market cap nearing $905 million and a price of $0.01836.
According to CoinCodex, the price of JasmyCoin is predicted to rise by 152% and reach $0.0474 by May 31. The technical indicators suggest a neutral current sentiment, while the Fear & Greed Index indicates a level of 66.
Both Tezos and JasmyCoin are aligned with broader market trends and are poised to benefit from any positive shifts in market sentiment.
These two cryptocurrencies are likely to attract increased investment if the cryptocurrency market regains its bullish momentum, pushing their market caps over the $1 billion threshold.
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