As time progresses in May 2024, the cryptocurrency market continues to experience fluctuations due to the widely anticipated Bitcoin halving event in April, which is generally considered a bullish trigger for the broader cryptocurrency environment led by Bitcoin. Meanwhile, discussions are ongoing about which cryptocurrencies could reach a market cap of $1 billion. Despite the presence of hundreds of cryptocurrencies close to this mark, let’s take a closer look at two of them.
Tezos (XTZ)
The blockchain platform Tezos (XTZ), known for its focus on security, decentralized governance, and scalability, appears to be approaching a market value of $900 million. As of the time of writing, it is resisting the recent market downturn with a price value in the region of $0.9012. Despite this, there has been a decrease of 3.76% in value over the last 24 hours.
Recently, the Tezos Foundation has also made significant moves. The Foundation has partnered with the company Magic to support the hiring process for decentralized applications (dApps), which simplifies the situation for users, particularly in web3 applications, and aims to improve experiences by integrating Magic’s wallet solutions into the Tezos blockchain.
Additionally, the company Rarible also appears to be preparing to include Tezos on its platform. Looking at the developments, it can be said that significant steps have been taken for Tezos to meet greater adoption in the NFT market.
Despite the market downturns, Tezos is expected to show strong price performance in the coming days. According to data provided by CoinCodex’s artificial intelligence algorithms, Tezos could reach $1.02 by May 31, with a price increase of 6.54%.
JasmyCoin (JASMY)
JasmyCoin (JASMY), which combines IoT and blockchain technologies to empower users with their own data, is currently experiencing notable growth with a market cap of $890 million and a price of $0.01806 at the time of writing.
On the other hand, it was mentioned that Arthur Hayes, who played a significant role in the rise of WIF, had also purchased JASMY coins, which has drawn attention to the cryptocurrency.
According to information shared by the artificial intelligence used by CoinCodex, JasmyCoin’s price could see an increase of 152% by May 31, potentially reaching $0.0474. Technical indicators show a neutral sensitivity, while the Fear and Greed Index is at 66.
