As Bitcoin (BTC) steadies after a period of prolonged decline, investors have turned their attention to altcoins. With minor movements observed in the altcoin market, speculation is rife about which cryptocurrencies might reach a market cap of 5 billion dollars. This article delves into two prominent altcoins, Aptos (APT) and Render (RNDR), both of which are in the top 30 by market cap and are nearing this significant milestone.
How is Aptos (APT) Progressing?
Aptos (APT) has garnered continuous interest since its launch, and with its ecosystem gaining investor confidence, there is a strong belief that it might surpass the 5 billion dollar market cap soon. The network recently hit a remarkable milestone of 32,000 transactions per second (TPS), outpacing competitors like Solana (SOL) and Sui (SUI) and setting a new daily transaction volume record.
The uptick in activity on the Aptos network is attributed to various innovations and new initiatives. With the current price of Aptos standing at $7.87 after a 2.78% increase over the last 24 hours, its market cap is currently 3.54 billion dollars, approximately 1.5 billion dollars short of the target.
What is the Current Status of Render (RNDR)?
Render (RNDR) has been significantly impacted by the recent surge in interest in artificial intelligence (AI). Despite a 20% price increase last month, a 13% drop in the past week has affected its momentum. Nvidia’s influence on the AI market has been a crucial factor in RNDR’s growth.
Currently trading at $7.97 with a slight decline of 0.42% in the last 24 hours, RNDR’s market cap has dipped to 3 billion dollars. Its trading volume stands at 79 million dollars, leaving it about 2 billion dollars shy of the 5 billion dollar goal.
Key Takeaways for Investors
- Aptos has achieved a notable 32,000 TPS, indicating strong network performance.
- Innovations on the Aptos network may drive its market cap beyond 5 billion dollars.
- Render’s price fluctuations are influenced by Nvidia’s role in the AI sector.
- RNDR needs to recover from recent losses to reach its market cap target.
Despite the recent declines, the support from Nvidia for AI tokens coupled with a potential rise in BTC could enable these altcoins to hit the 5 billion dollar threshold swiftly.