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Finbold

02/15/2024

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3 cryptocurrencies to reach $50 billion market cap in 2024

Mid-cap cryptocurrencies with solid fundamentals may offer enticing risk-reward ratios in the dynamic crypto world. For this article, Finbold selected three assets that could hit a $50 billion market cap by...

3 cryptocurrencies to reach $50 billion market cap in 2024

Mid-cap cryptocurrencies with solid fundamentals may offer enticing risk-reward ratios in the dynamic crypto world. For this article, Finbold selected three assets that could hit a $50 billion market cap by 2024.

Yet, it’s vital to acknowledge that these listed cryptocurrencies are experimental or must fulfill certain criteria for capitalization expansion. Some of them may not see this value increase fully reflected in price due to relevant supply inflation.

While compiling this list, we assessed the projects’ core features, such as decentralization, security, practical use, and how they stack up against larger coins.

Previously, Finbold reported on 2 low-cap cryptocurrencies to reach a $1 billion market cap in 2024 and 3 cryptocurrencies to reach a $10 billion market cap in 2024.

Picked for you

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.

Chainlink (LINK) market cap and price data. Source: CoinMarketCap

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. 

Toncoin (TON) market cap and price data. Source: CoinMarketCap

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, according to CoinCodex.

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.

Bitcoin Cash (BCH) market cap and price data. Source: CoinMarketCap

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.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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