Good fundamental cryptocurrencies with low market capitalization have attractive risk-reward potential in an ever-evolving crypto ecosystem. In this article, Finvold identifies three assets that could reach a market value of $10 billion in 2024.
However, it is important to understand that the following cryptocurrencies are experimental projects or require certain conditions to grow. Especially considering the regulatory environment.
For this list, we focused on the fundamental aspects of these projects, such as decentralization, security, practicality, and competitive advantage over big-capitalization coins.
Monero (XMR) could reach $10 billion market cap
In particular, Monero (XMR) is a cryptocurrency with a market capitalization of $2.18 billion, despite being one of the most solid projects. It is the market-leading native privacy coin and has already proven its innovative and fully decentralized technology over the years.
Nevertheless, Monero has faced significant regulatory pressure, resulting in losses of over 23% in the past 30 days. At the time of writing, the trading price was $118.5 and the monthly trading volume was $3.09 billion, which is 50% higher than the market capitalization. This recent decline mainly occurred after Binance’s delisting announcement.
Monero will now undergo its biggest resiliency test in history following the loss of the largest centralized cryptocurrency exchange. Therefore, privacy coins could gain even more momentum in 2024 if they can survive through increased usage and decentralized exchange solutions.
A market cap of $10 billion would represent a return of almost 360% from the current price. This is supported by Monero’s low and predictable supply inflation of less than 1% per year.
On the other hand, lack of liquidity is a major challenge to overcome. This prediction relies on positive developments from the Monero community and user base.
THORChain (RUNE) for decentralized exchange solutions
Meanwhile, THORChain (RUNE) could prove to be an important ally for Monero’s success in 2024. With a focus on interoperability and decentralized exchange, this cross-chain protocol has the potential to be relevant this year.
The native token, RUNE, is currently trading at $5.12 and has a market capitalization of $1.74 billion. In particular, RUNE is up 12.8% in the past 30 days and has a huge monthly trading volume of $11.5 billion.
As regulatory scrutiny puts pressure on centralized exchanges, crypto investors may start looking to Binance and other major marketplaces for alternatives. This is when THORChain can shine and collect enough capital to grow.
A market cap of $10 billion would represent a gain of nearly 475% from its current market cap. However, RUNE is still subject to significant inflation, which may impact the price realization of these gains.
Can Maker (MKR) reach a $10 billion valuation?
Finally, Maker (MKR) also shows a possible surge related to 2024 considering the overall regulatory scenario. Maker is an Ethereum-based protocol that supports the decentralized and overcollateralized stablecoin DAI.
MKR is the protocol’s governance token with a value of $1.83 billion and a current price of $1,985 per token.
If the market cap reaches $10 billion, you’ll earn more than 465% off the current market cap. However, MKR is known to perform in unfavorable conditions for other cryptocurrencies and typically spikes during bear markets. Therefore, this makes Maker tokens a worthwhile hedge to consider as well.
Similar to the selection of two cryptocurrencies that have the potential to reach $1 billion in market capitalization in 2024, these cryptocurrencies may not realize their predicted scenario unless they gain meaningful adoption and usage. There is a gender.
All things considered, investors should always do proper risk management and research when investing in the cryptocurrency market.
Disclaimer: Content on this site should not be considered investment advice. Investments are speculative. When you invest, your capital is at risk.