Good Fundamental Cryptocurrencies with Potential to Reach $10 Billion Market Cap in 2024
There are several cryptocurrencies with lower market caps that have the potential for appealing risk-reward opportunities in the ever-evolving crypto ecosystem. In this article, we have selected three assets that could reach a $10 billion market value by 2024. However, it’s important to note that these cryptocurrencies are either experimental projects or require specific conditions to grow, especially considering the regulatory environment.
We have evaluated these projects based on their fundamental aspects such as decentralization, security, utility, and competitive advantages over higher capitalized coins.
Monero (XMR) Could Reach a $10 Billion Market Cap
Monero (XMR) is currently a $2.18 billion market cap cryptocurrency and one of the most solid projects in the market. It is the leading native-privacy coin with a proven, innovative, and fully decentralized technology.
Despite its strength, Monero has faced significant regulatory pressure, resulting in over 23% losses in the last 30 days. The recent sell-off was mainly triggered by Binance’s delisting announcement. Surviving through increased usage and decentralized exchange solutions will be crucial for Monero to reach higher grounds in 2024.
If Monero reaches a $10 billion market cap, it would result in nearly 360% gains from its current prices. However, the lack of liquidity remains a significant challenge that needs to be addressed for this forecast to materialize.
THORChain (RUNE) for Decentralized Exchange Solutions
THORChain (RUNE) could play a vital role in Monero’s success in 2024. This cross-chain protocol focuses on interoperability and decentralized exchange solutions, making it an important ally for Monero.
The native token, RUNE, currently trades at $5.12 with a market cap of $1.74 billion. As regulatory scrutiny intensifies on centralized exchanges, investors may seek alternatives like THORChain. This could attract enough capital to drive its growth.
If THORChain reaches a $10 billion market cap, it would result in nearly 475% gains from its current market cap. However, the inflationary nature of RUNE may impact the realization of these gains in price.
Can Maker (MKR) Reach a $10 Billion Value?
Maker (MKR) also shows significant potential for a surge in 2024, considering the overall regulatory scenario. It is an Ethereum-based protocol that supports the decentralized and overcollateralized stablecoin DAI.
MKR is the governance token of the Maker protocol, valued at $1.83 billion and priced at $1,985 per token currently.
If Maker reaches a $10 billion market cap, it would result in over 465% gains from its current market cap. MKR has a history of performing well during bear markets, making it a valuable hedge to consider.
Conclusion
While these cryptocurrencies have the potential to reach significant market caps by 2024, it’s important to note that meaningful adoption and usage are crucial for their success. Investors should always practice proper risk management and conduct thorough research before investing in the cryptocurrency market.
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