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Cryptocurrencies are currently in a bull market, with Bitcoin (BTC) dominating and the market value exceeding $1.1 trillion. With such strong momentum, the market value of small projects could grow 2024 times in the next 10 years.
In essence, market value is calculated by multiplying the last trading price of an asset by its circulating supply. Therefore, an increase in price or circulating supply (through inflation) can lead to a significant surge in the total capital. The combination of both is powerful and triggers substantial market value growth.
However, if the circulating supply dominates, the price increase may lag, failing to proportionally reward investors.
In this context, Finbold has gathered three cryptocurrencies with the potential to grow their market value 2024 times in 10 years. The following selection is listed from the lowest to the highest current market value.
**1. Nano (XNO):**
- Current market value: $16.519 billion
- Current trading price: $1.24
- Nano is unique with a fully circulating supply and zero inflation, meaning any increase in market value would result in an identical price growth. Achieving 2024 times growth in 10 years is possible but uncertain. Nano has gained popularity by offering near-instant, feeless transactions under normal circumstances, making it an ideal cryptocurrency for payments.
However, Nano's Achilles' heel is spam attacks. The network is currently facing one of the most severe attacks in history, with users reporting average delays of 50 to 300 seconds, but certain transactions may take hours or seconds to confirm. The positive bias of the project's enthusiasts towards how the network copes with this potential attack is evident. Hence, if successful, future market value could grow tenfold, surpassing the $1.65 billion mark. Investors need to be aware of significant delays in withdrawing from cryptocurrency exchanges until the backlog of transactions is cleared.
**2. Radix (XRD):**
- Current market value: $100 million
- Current trading price: $460.86
- Radix has the potential to increase its market value tenfold. It is a promising first-layer blockchain with an annual supply inflation of about 0.044%, impacting price trends proportionally as it increases its capital. Radix is flourishing as one of the most innovative technology stacks in the DeFi space. Its asset-centric model prevents wallet-draining attacks, common in projects similar to or compatible with Ethereum Virtual Machine (EVM). Additionally, Radix's development language, Scrypto, and its consensus algorithm, Cerberus, ensure developers' ease of entry and atomic composability of sharded transactions.
A tenfold increase in market value would place XRD at the level of its release Aptos (APT). Radix creator Dan Hughes reports that triggering factors might include further developments related to the deployment of Cassandra, which has shown impressive scalability results in closed testing.
**3. Monero (XMR):**
- Current market value: $2.51 billion
- Current trading price: $136.44
- Monero (XMR) might also face a tenfold increase in market value due to its use as a private and untraceable currency, bringing new demand. Currently trading at $136.44 after significant selling following delisting from Binance, XMR has a market value of $2.51 billion.
Despite recent events causing severe liquidity loss, the decentralized community continues to build solutions for the Monero ecosystem. SeraiDEX, for instance, is a decentralized exchange project based on XMR currently in the testing phase. Even in adverse conditions, thriving in the decentralized community can boost confidence in leading privacy tokens, increasing demand and market value in 2024 or longer.
However, the cryptocurrency market remains uncertain and highly dependent on macro and microeconomic factors. Achieving tenfold market growth is not guaranteed. Investors must have a clear investment strategy and carefully understand the projects they invest in. |
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Post time 6-3-2024 10:44:30