A recent analysis suggests that three cryptocurrencies with modest market capitalizations are on track to potentially break through a $10 billion valuation by 2024. These altcoins are Monero (XMR), THORChain (RUNE), and Maker (MKR), each showing unique strengths that contribute to their growth prospects.
Monero Faces Regulatory Hurdles
Monero, known for its privacy-centric features, is contending with intense regulatory scrutiny, which has resulted in a 23% decline over the past month. Presently, the coin trades at $117.7. Despite this pressure, Monero’s adherence to a low supply inflation rate and increased adoption through decentralized exchanges could vastly improve its valuation.
THORChain Aims for Decentralized Exchange Dominance
THORChain, a decentralized liquidity protocol, has seen a 12.8% uptick in valuation over the last month. Trading at $5.09 with a $1.74 billion market cap, the inter-chain exchange platform could benefit from the regulatory crackdown on centralized exchanges. This could pave the way for a 475% gain if it achieves the $10 billion milestone.
Maker’s Stability Amidst Market Volatility
Maker, another contender, operates on the Ethereum blockchain, supporting the DAI stablecoin. Currently valued at $1.83 billion with a token price of $1,985, Maker could see over a 465% increase in market value. Its performance often counters the broader crypto market trends, making it an attractive hedge during downturns.
Investors monitoring these developments will be keen to see if these altcoins can overcome their respective challenges and achieve the anticipated growth, providing significant returns on investment.