Cryptocurrencies with low market values can offer an attractive risk-reward potential within the constantly developing crypto ecosystem. Three altcoins that could reach a market value of $10 billion by 2024 have significant potential. It is necessary to consider fundamental aspects such as decentralization, security, utility, and competitive advantages over higher-capitalized coins for these cryptocurrencies. Let’s evaluate these altcoins.
Altcoin Monero (XMR) Could Reach $10 Billion Market Value
Especially altcoin Monero (XMR), despite being one of the most robust projects, is a cryptocurrency with a market value of $2.18 billion. This is the leading privacy coin in the market with its proven innovative, completely decentralized technology over the years.
However, altcoin Monero has faced significant regulatory pressure resulting in a loss of over 23% in the last 30 days. At the time of writing, it is trading at $117.7, with a monthly trading volume of $3.09 billion. Monero has been oversold recently. Most of these recent sales occurred after Binance‘s delisting announcement.
Now, altcoin Monero will undergo the biggest resilience test in its history after losing the largest centralized crypto exchange. Therefore, surviving with increased usage and decentralized exchange solutions could elevate the privacy coin to higher grounds in 2024.
Monero’s low and predictable supply inflation of less than 1% per year, if sustained, could lead to a market value of $10 billion, providing approximately a 360% gain from current prices. On the other hand, a lack of liquidity is a major challenge to overcome. This forecast depends on positive developments within the altcoin Monero community and user base.
Decentralized Exchange Solutions with THORChain (RUNE)
Meanwhile, altcoin THORChain (RUNE), could prove to be an important ally for Monero’s success in 2024. This cross-chain protocol, focused on interoperability and decentralized exchange, holds significant potential for 2024. Its native token RUNE is currently trading at $5.09 with a market value of $1.74 billion. Notably, RUNE has seen an increase of 12.8% in the last 30 days with a massive monthly volume of $11.5 billion.
As regulatory scrutiny increases pressure on centralized exchanges, crypto investors may start looking for alternatives in Binance and other major markets. That’s when altcoin THORChain could shine and attract sufficient capital for growth.
Reaching a market value of $10 billion would result in approximately a 475% gain from its current market value. However, altcoin RUNE remains a highly inflationary asset, which could impact these gains on its price.
Could Maker (MKR) Reach a $10 Billion Value?
Lastly, Maker (MKR) also shows relevant potential for an increase in 2024, considering the overall regulatory scenario. Maker is an Ethereum-based protocol that supports the decentralized and over-collateralized stablecoin DAI. MKR is the governance token of the protocol, valued at $1.83 billion. Currently, the token is priced at $1,985 per token.
Reaching a market value of $10 billion would result in a gain of over 465% from its current market value. However, it is known that altcoin MKR performs under unfavorable conditions for other cryptocurrencies and often rises during bear markets. Therefore, this makes the altcoin Maker token a valuable hedge to consider.
