Mid-cap cryptocurrencies with solid fundamentals may offer enticing risk-reward ratios in the dynamic crypto world. For this article, we have selected three assets that could hit a $50 billion market cap by 2024.
In particular, Chainlink (LINK) is a $11.77 billion market cap cryptocurrency with huge upside potential as the leading Oracle. With the growth of real-world assets in decentralized finance (DeFi), Oracle solutions might play an important role in the industry.
The financial titan BlackRock Inc. (NYSE: BLK) has already mentioned that tokenization has a great value for the market. Therefore, data Oracles capable of processing off-chain information from the on-chain space might benefit from this value perception.
A run to a $50 billion market cap would result in nearly 324% capitalization gains, impacting its price. However, Chainlink’s token is known for its large yearly supply inflation of over 15%. This characteristic will diminish the capitalization surge effects on the unitary price of LINK.
Toncoin (TON), Telegram’s cryptocurrency network
In the meantime, Toncoin (TON) illustrates well the growing participation of off-chain companies in the crypto landscape. This layer-1 blockchain was created in partnership with Telegram, one of the leading messaging apps in the world.
The Open Network’s native token, TON, currently has a $7.36 billion capitalization and a unitary price of $2.23.
A run to a $50 billion market cap would result in nearly 579% capitalization gains, with investment results also slowed down by an astonishing 183% yearly inflation.
Essentially, a supply increase would also increase TON’s market cap, even if the price remains the same.
Bitcoin Cash (BCH)
Lastly, Bitcoin Cash (BCH) could move from its $5.29 billion capitalization to the projected $50 billion market cap. This cryptocurrency surged from a blockchain split in 2017 involving the Bitcoin network, resulting in both BCH and BTC.
BCH lost the market battle, with a current capitalization 200 times lower than BTC. Charles Hoskinson recently explained how centralized players might use capital to influence picking a cryptocurrency winner.
Nevertheless, Bitcoin Cash’s ecosystem continues to grow and innovate, besides being a more efficient medium of exchange than Bitcoin Core.
A run to a $50 billion market cap would result in nearly 845% gains from current prices. This is supported by Bitcoin Cash’s low and predictable supply inflation of less than 1.75% per year. Additionally, this supply inflation will halve in 2024, just like BTC.
Similar to our previous selections, these cryptocurrencies may not deliver the forecasted scenario unless they manage to acquire meaningful adoption and usage.
All things considered, investors must always do proper risk management and research when investing in the cryptocurrency market.
By
By
By
By