Consulting giant Fool analysts have predicted 3 cryptocurrencies that could reach trillion-dollar valuations in the next bull market rally. However, many analysts think that more than one project will cross this threshold at this point.
3 fast-growing cryptocurrencies that could be worth $1 trillion by 2030
In the cryptocurrency market, only one cryptocurrency has reached a trillion-dollar market cap so far: Bitcoin (BTC). But a growing number of analysts and investors now think that the next crypto bull market will result in multiple cryptocurrencies reaching a trillion-dollar valuation.
How likely is this scenario? So far, the entire market cap was $3 trillion, spanning thousands of different cryptocurrencies. As such, the path to a trillion-dollar valuation for any coin is difficult at best, unless the size of the crypto market expands dramatically. Here’s a closer look from Fool analysts at three high-growth cryptocurrencies that could get there.
Bitcoin (BTC)
Considering that the leading crypto has surpassed $1.28 trillion in the last bull market, hitting $1 trillion in the next bull market may make more sense than it seems. With a current market cap of $458 billion, Bitcoin (BTC) would need to more than double in value to reach the trillion-dollar mark. Given its current price of $22,800, Bitcoin is still well below the ATH level of $68,789.63. In terms of price, it needs to rise by more than $50,000.
There are other, more sophisticated ways to think about a trillion-dollar valuation for BTC. For example, prominent Bitcoin bull Michael Saylor has focused on the world’s physical gold supply.
If you believe in the idea that Bitcoin is “digital gold,” then at some point the value of Bitcoin and the value of the world’s physical gold supply should start to converge. Currently, the value of the world’s physical gold supply is estimated to be between $10 trillion and $15 trillion, so Bitcoin’s possible maximum valuation could also rise to this level. This logic may sound exaggerated, but Wall Street bank Goldman Sachs followed a similar process of reasoning, hitting a $100,000 price target for Bitcoin in January 2022.
Ethereum (ETH)
A trillion dollar valuation is harder to come by for Ethereum (ETH), which currently has a market cap of around $200 billion. To reach $1 trillion, its value would have to increase fivefold. Even at its all-time high, ETH has only reached a market cap of $571.67 billion, so there is clearly a lot of work to be done. Slow, incremental growth is not the path to a trillion-dollar valuation for Ethereum.
One approach to valuing Ethereum is to value all lines of business separately. For example, NFTs, games, decentralized finance (DeFi), and the metaverse. You will then need to make a growth projection for each of these lines of business.
But will any of Ethereum’s core businesses grow by 5X? Take the NFT market, for example, which is worth $25 billion in both 2021 and 2022. Assuming Ethereum currently controls close to 75% of the NFT market, that’s roughly $20 billion in annual sales. The 5X scaling factor means $100 billion in annual NFT sales for Ethereum.
Analysts have suggested that the metaverse market could be a trillion-dollar industry, so even if Ethereum only claims 10% market share, that’s still $100 billion, more than enough to offset any stagnation in the NFT market.
Left (LEFT)
Finally, there is Solana (SOL), which was the market favorite before the 2022 events unfolded. Solana has gained more than 100% in 2023, so conditions look more fertile for crypto. Despite this rapid increase, its market cap is still under $10 billion, so a trillion-dollar valuation would mean more than 100x gain in value.
The good news is that with its new Solana Mobile initiative, it’s making a big bet on mobile crypto. Solana is also making big strides in its global expansion strategy by investing in new ventures in Europe, Asia and the Middle East. cryptocoin.com We have mentioned that Ethereum founder Vitalik Buterin also supports Solana.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your own research and due diligence before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.