3 cryptocurrencies : Cryptocurrencies that are solid but not widely owned might offer good chances for profit in the ever-changing world of crypto. In this article, Finbold has chosen three cryptocurrencies that could be worth $10 billion by 2024.
It’s important to know that the cryptocurrencies mentioned are still being tested or need certain things to happen to become successful, especially the rules and laws that apply to them.
We made this list by checking the basic parts of these projects, like how spread out they are, how safe they are, what they can be used for, and how well they do compared to bigger projects.
Monero (XMR) could reach a $10 billion market cap
Monero (XMR) is a cryptocurrency worth $2.18 billion. It is known for being very reliable and is the top privacy-focused digital currency. Its technology is unique, completely independent, and has worked well for many years.
Monero has lost over 23% of its value in the last month because regulators are putting a lot of pressure on it. Its price is now $118.5, and it traded $3.09 billion worth in a month, which is 50% more than its total value. This big drop in price mainly happened after Binance said it would no longer list Monero.
Monero is facing its toughest challenge yet after losing support from the biggest crypto exchange. If it can keep being used more and find success with decentralized exchanges, this privacy-focused digital currency might grow stronger in 2024.
If the value of the company reaches $10 billion, its price would go up by almost 360% from what it is now. This increase is possible because the amount of Monero available increases by less than 1% every year, which is both small and steady.
On the other hand, not having enough cash is a big problem. This prediction relies on good changes from the Monero community and its users.
THORChain (RUNE) for decentralized exchange solutions
At the same time, THORChain (RUNE) might help Monero do well in 2024. This system works across different blockchains and helps with swapping currencies without a central authority, and it could be really useful this year.
The local currency, RUNE, is now selling for $5.12 and is worth a total of $1.74 billion. Importantly, RUNE’s value has increased by 12.8% in the past month, and it has been traded a lot, with $11.5 billion worth of trades.
If rules become stricter for big cryptocurrency exchanges, investors might search for other options like Binance. During this time, THORChain could become more popular and get more money to expand.
If RUNE’s value grows to reach $10 billion, its worth could go up by almost 475% from what it is now. But, since RUNE’s value can decrease over time due to inflation, this increase in worth might not fully happen.
Can Maker (MKR) reach a $10 billion value?
Finally, Maker (MKR) also has a good chance to increase in value in 2024, because of the rules and regulations in place. Maker is a system built on Ethereum that helps keep the stablecoin DAI stable and secure by requiring more collateral than the loan amounts.
If the market value reaches $10 billion, it would mean more than a 465% increase from its current value. However, MKR often does well even when other cryptocurrencies are struggling, typically rising in value during tough times for the market. This makes the Maker token a good option to think about as a protective investment.
Just like we picked two cryptocurrencies that could be worth $1 billion in 2024, these might not meet expectations unless they become widely used and accepted.
Investors should always carefully manage risks and do their research before investing in the cryptocurrency market.
Disclaimer: The information on this website isn’t meant to be taken as advice for investing money. Investing involves uncertainty, and there’s a chance you could lose your money when you invest.