Litecoin (LTC) and Near Protocol (NEAR) Poised to Reclaim $5B Market Caps in September

Market capitalization is a popular benchmark for accessing an asset's nominal value, multiplying the price by its circulating supply.

After a difficult August for cryptocurrency holders, who saw their portfolios shrink amid an overall poor market performance, Finbold has identified two promising cryptocurrencies that could cross the $5 billion market capitalization threshold in September.

When determining an asset's nominal worth, market capitalization, which is calculated by multiplying the price by the circulating supply, serves as a crucial indicator. Especially in the cryptocurrency market, where each coin can have a different supply and tokenomics, it is very useful.

In this article, we've highlighted the two projects that are most likely to reach the $5 billion capitalization mark in September. However, there is no assurance that this will occur, and each cryptocurrency's performance will be influenced by a variety of variables going forward.

Picks for you

Litecoin (LTC) to reclaim the $5 billion market cap

First up, Litecoin (LTC) is the cryptocurrency that is closest to the $5 billion level, with a market capitalization of $4.90 billion at the moment. LTC is currently trading at $65.95 per coin, having reached a low of $61.75 in the last seven days of trading.

With a circulating supply of 74.90 million LTC, the most well-known Bitcoin (BTC) fork must trade at $66.75 to reach $5 billion in capitalization, which would require an easy 1.21% upward movement.

It's important to note that Litecoin has lower transaction fees and confirmation times than Bitcoin. One of the strongest network effects in the cryptocurrency industry belongs to it, and numerous service providers enthusiastically back it.

Furthermore, LTC has seen a strong increase in these service providers as a popular payment option. According to data from Bitpay, Coingate, and, most recently, Bitrefill, Finbold highlighted some of these achievements.

This rising demand, not just in September but also during an impending bull market, might help Litecoin perform well.

Promising September for Near Protocol (NEAR)

Second, Near Protocol (NEAR) ranks 24th in terms of market capitalization with a nominal value of $4.6 billion, following Litecoin. NEAR, its native token, trades at $4.13 with a circulating supply of 1.1 billion and continuous supply inflation.

The highest and lowest prices for NEAR in the previous seven days of trading were $4.25 and $3.95, respectively. To reach the goal market capitalization of $5 billion, it must essentially trade above $4.54.

The Near Protocol offers a very scalable layer-one network for smart contracts and decentralized applications (dApps). Its present emphasis is on chain abstraction and decentralized artificial intelligence (AI), which facilitates protocol use.

In conclusion, Litecoin and Near are both on the verge of hitting a market capitalization of $5 billion in September, recovering from August's market crash. The market is nevertheless unpredictable, and these assets may still experience more bad performance despite the promising scenario.

The content on this site shouldn't be used as investment advice. Speculative is investing. Your money is at risk when you invest.

The above is the detailed content of Litecoin (LTC) and Near Protocol (NEAR) Poised to Reclaim $5B Market Caps in September. For more information, please follow other related articles on the PHP Chinese website!