Donald Trump’s historic win in the 2024 U.S. elections on November 6 is sparking renewed excitement in the crypto industry, especially as his pro-crypto promises have invigorated investors.
Following a decisive Republican victory, the cryptocurrency market has surged, with Bitcoin (BTC) hitting a new all-time high above $90,030 on November 12, bringing fresh momentum to the broader market.
Amid this rally, two promising altcoins, Chainlink (LINK) and Sui (SUI), stand out for their potential to reach a $10 billion market cap by the end of the year.
Both tokens are backed by unique growth drivers and increasing institutional interest, making them prime contenders for reaching this significant valuation milestone.
Sui (SUI)
Sui’s ecosystem has been rapidly expanding, with its Total Value Locked (TVL) reaching an all-time high of $1.41 billion, according to DefiLlama. This reflects growing user confidence and activity within the Sui network, positioning it as a formidable player in the DeFi space.
Currently priced at $3.12, SUI’s market cap has reached $8.83 billion, bringing it within close range of the $10 billion milestone.
This recent surge in value is fueled by strategic partnerships and ecosystem growth. For instance, MemeFi’s announcement as the first Telegram mini-app to collaborate with the SUI increases network activity.
Moreover, Sui’s ecosystem has seen a marked increase in liquidity recently, with daily trading volumes reaching $2 billion, according to the data from Santiment.
Additionally, the lending protocol Scallop (SCA), a key player within Sui’s DeFi space, has also experienced a 92% increase in token price over the past week, reflecting high demand for Sui-based financial solutions.
Chainlink (LINK)
Chainlink is at the forefront of cross-chain technology, establishing itself as a universal gas token that powers multiple blockchain networks.
With a current price of $13.92 and a market cap of $8.72 billion, LINK has been steadily climbing, fueled by its unique utility in allowing users to pay network fees across different blockchains.
By positioning LINK as a universal gas token, Chainlink’s new approach allows users to pay fees in LINK and receive a 10% discount, incentivizing high-volume users.
For instance, The Chainlink CCIP v1.6 Cross-Chain Billing solution consolidates various tokens into LINK for payments, simplifying the fee process for developers.
As the universal gas token, LINK is becoming central to Chainlink’s future growth, increasing its demand across the blockchain space.
For investors and traders, both assets offer compelling entry points supported by strong fundamentals and technical indicators.
Watching key levels, trading volumes, and ecosystem updates will be crucial for those looking to maximize gains as LINK and SUI approach their next growth phase.
Featured image via Shutterstock
