The cryptocurrency sector has seen an incredible rise in popularity and adoption over the last few years. The budding asset class has entered mainstream finance. Global financial institutions, such as BlackRock, have opened their doors to crypto. Governments have begun taking the idea of digital currency very seriously. Some nations have even accepted Bitcoin (BTC) as legal tender.
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Cryptocurrencies Face A Slight Dip
The crypto market faced a slight dip today, May 5. The market saw quite an upswing earlier this week. Bitcoin (BTC) unsuccessfully tested the $105,000 level. The original crypto has since fallen to the $102,000 price point.
The rally came after the US announced new trade deals with several partners. Cryptocurrencies began to surge in one of the most significant market rallies. The upward momentum may have been fueled by a spike in institutional investments.
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The latest dip could be due to investors booking profits after the recent surge. Many may be expecting a correction soon.
Top 3 Cryptocurrencies That Could Breach the $100 Billion Market Cap
1. Binance Coin (BNB):
Binance’s BNB coin has a market cap of $94.9 billion. The cryptocurrency is very close to breaching the $100 billion mark soon. If the crypto market rebounds, BNB’s market cap could hit $100 billion this cycle.
2. Solana (SOL):
SOL has a market cap of $90.6 billion. The cryptocurrency’s market cap will likely hit the $100 billion mark once it has reclaimed a higher price point. SOL is among the best-performing crypto assets of the last few years. SOL will most likely recover its losses in the coming months.
3. Dogecoin (DOGE):
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DOGE is the original meme cryptocurrency. The asset may also become the first memecoin to have a market cap of $100 billion. DOGE may see an ETF sometime later this year. An ETF launch will likely lead to a massive inflow of institutional money.
