As we approach the end of the first half of 2024, cryptocurrency The market appears to be on the verge of a major bull cycle. The ongoing upward trend presents opportunities, especially for coins approaching $10 billion market cap.
NEAR Protocol (NEAR)
NEAR Protocol (NEAR) has significant growth potential in its role as a leading blockchain for mainstream applications, processing millions of transactions daily. With a current price of $7.81 and a market cap of $8.42 billion, NEAR is strengthening its market position with its focus on democratizing AI ownership and increasing scalability.
There has been a significant increase in NEAR’s trading activity in recent months, and increased demand in the open interest market indicates potential price increases. Despite market declines, NEAR is up 13% in the last month and 113% since the beginning of the year. This is in line with broader AI token trends.
Technical indicators are positive for NEAR and it is currently trading well above its 200-day simple moving average (SMA), fluctuating between $6.71 and $8.68. The next resistance level is $9.59 and if it breaks this level, it can target $11.56.
Offering a developer-friendly, scalable environment for decentralized cryptocurrency applications, NEAR stands out as a strong candidate for growth with its artificial intelligence and big data-focused approach.
Polygon (MATIC)
polygon (MATIC) attracts attention with its user-friendly Ethereum (ETH) scaling solutions. However, in the short term, Polygon’s price outlook points to consolidation, and many indicators point in that direction. Polygon, which has a cryptocurrency price of $0.7174 and a market cap of $7.10 billion, saw a modest 3% increase in the last week.
Polygon, which is traded close to the $0.72 resistance level and finds support at $0.60, may make a rise towards $0.84 if it breaks this resistance. Layer 2 scaling solution and growing enterprise interest are important drivers for growth. Despite the market decline after a strong first quarter, Polygon is poised to rebound and is targeting the $1 level again soon.
To reach a $10 billion market cap, Polygon needs to continue growing. This growth is supported by technological advances and strategic partnerships. With its solid foundation and market appeal, Polygon is well positioned to achieve this goal.
The first half of 2024 will be a critical period for NEAR Protocol and Polygon as they approach their $10 billion market cap targets. The likelihood of these cryptocurrencies reaching their stated goals will largely depend on whether the market can maintain its upward momentum.
