As a researcher with a background in blockchain technology and experience in analyzing digital asset markets, I believe that the next bull run could see several altcoins surpassing the $100 billion market cap. The crypto landscape has evolved significantly since the last bull market, with innovative technologies, expanding use cases, and increasing mainstream acceptance. Here are my top four picks for altcoins that have the potential to hit a $100 billion market cap in the next bull run.
In more straightforward terms, the previous bull market saw several altcoins reaching valuations of over $100 billion. However, the blockchain sector has evolved significantly over the past four years. New technologies, broader use cases, and growing mainstream adoption are propelling some altcoins towards the potential of a $100 billion market cap. This upcoming phase offers not only lucrative investments but also significant transformations to the financial industry. Here are four altcoins that could reach a market capitalization of $100 billion during the next bull run:
1. Altcoins – Shiba Inu (SHIB)
Shiba Inu is currently one of the most popular dog-themed cryptocurrencies, boasting a significant following and numerous imitators. With a trading price of approximately $0.00001874, Shiba Inu boasts a market capitalization of over $11 billion. According to the market cap trend chart, the total value of this asset is on a downward trajectory, with the next support level estimated around $8.3 billion.
Reaching an unprecedented peak, SHIB‘s market capitalization soared to a staggering $41.1 billion – a record for any meme coin besides Dogecoin. Initially, Shiba Inu was merely a humorous digital currency. However, as time progressed, the team behind it developed substantial technology, functionality, and infrastructure surrounding the token. This growth could potentially propel SHIB towards surpassing $100 billion in market cap.
The data reveals that Shibarium hosts approximately forty distinct protocols. Among these, ten are liquid staking platforms, and eleven are decentralized exchanges. Furthermore, there are two bridges and five wallets included in the list, elevating Shiba Inu’s status beyond a mere meme coin, potentially making it a formidable competitor even surpassing Dogecoin’s standing in the blockchain market.
2. Toncoin (TON)
Toncoin is a primary blockchain explicitly engineered for seamless cross-chain compatibility. This innovative chain is the creation of Telegram, the globally recognized messaging platform boasting over 1 billion users. Subsequently, the TON Foundation emerged, assuming responsibility for network development.
As a cryptocurrency analyst, I would explain that TON isn’t a recently emerged altcoin for beginners in the crypto world. Instead, it has been present since 2021 and has been trading at relatively low prices under the dollar mark. The recent surge in popularity of TON can be attributed to the shift in the gaming ecosystem towards Telegram mini apps over the past few months.
The peak market capitalization of Toncoin reached an astounding $25.2 billion during April 2024. This significant milestone occurred concurrently with the debut of Notcoin (NOT), an innovative Tap-to-Earn game, which attracted a large number of new users not only to cryptocurrency but also to the TON blockchain.
The Telegram mini-apps ecosystem has experienced remarkable growth since then, leading to heightened expectations that this market cap will expand significantly. It’s plausible that Toncoin will exceed a value of $100 billion during the upcoming bull market.
3. XRP (XRP)
As a cryptocurrency analyst, I’ve come across numerous enigmas within the digital currency sphere, and Ripple (XRP) is one that continues to intrigue me. Despite being the oldest coin on this list, which includes Litecoin (LTC), Monero (XMR), and Bitcoin Cash (BCH), XRP has managed to maintain its position among the top 10. However, the fact that its price has been suppressed for the past five years remains a puzzling phenomenon for many members of the XRP community.
Among the other listings, XRP stands out with its market value exceeding $100 billion. Between January 2 and 3, 2018, XRP experienced a significant surge, climbing from approximately $95 billion to $121 billion. This growth marked the peak of the 2020-2021 bull run, with XRP reaching a market value of $131 billion on January 7.
In the bear market and subsequent recovery, XRP‘s value took a significant hit and failed to regain its previous levels, unlike other cryptocurrencies. During the mini-bull season in March 2024, the token reached a market capitalization of only $39 billion. The ongoing legal dispute between XRP and the SEC, which began late in 2020, has kept a lid on its price growth.
The agreement between the SEC and Terraform Labs, coupled with the termination of Ethereum 2.0 probes, fuels optimism amongst XRP supporters that Ripple may secure similar leniency. Following Ripple’s triumph in reducing their penalties from $2 billion to $1.3 billion, there is a strong possibility for XRP to exceed the $100 billion market cap once more, if favorable market conditions prevail.
4. Altcoins to buy – Chainlink (LINK)
As aChainlink analyst, I’d describe it as follows: I’ve had the privilege of observing Chainlink, founded by Sergey Nazarov, make significant strides behind the scenes. chainlink is like the industrious and unassuming kid in the family, quietly building the Cross Chain Interoperability Protocol (CCIP), the blockchain’s equivalent to TCP/IP. By January 2023, an impressive 1600 blockchain protocols had adopted its technology – a remarkable achievement considering the CCIP mainnet hadn’t even launched yet. Since then, another 657 projects have joined the ranks, with 148 of them integrating in 2024 alone.
As an analyst, I would express it this way: My current assessment indicates that Chainlink’s market capitalization hovers around the $8.6 billion mark, a decrease from its peak of $12.11 billion attained on March 11, 2023. The all-time high market cap for Link was achieved in May 2021 at $22 billion before experiencing a downward trend. Notably, the strong support level for Chainlink is situated near the $8 billion mark and has been tested repeatedly since November 2023.
With a market value of just $22 billion despite having fewer customers and a less pronounced rally than previous, this underestimated entity is poised to astound many once a significant bull market ensues.
Conclusion
Experts in the cryptocurrency sector anticipate that the upcoming bull market will surpass all previous records in crypto history. To date, regulatory bodies have given the green light to two Exchange-Traded Funds (ETFs). Furthermore, there is ongoing discussion amongst industry pioneers about the potential for additional approvals. Several altcoins are predicted to reach or even exceed a market capitalization of $100 billion.
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2024-06-20 14:34