2024

Radix

Nano

Monero

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 <p class="paragraph">Cryptocurrencies are in a bull market, led by the dominating Bitcoin (BTC), with over $1.1 trillion in capitalization. With such a strong momentum, smaller projects could experience a 10 times increase in market cap in 2024.</p>
 <p class="paragraph">Essentially, the market cap is calculated by multiplying the last traded price of an asset with its circulating supply. Therefore, a price or a circulating supply increase – through inflation – can cause the capitalization to surge. The combination of both is powerful, triggering massive market cap increases.</p>
 <p class="paragraph">However, if the circulating supply has the protagonism, the price gains may lag behind, not rewarding investors proportionally.</p>
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 <p class="paragraph">In this context, Finbold gathered three potential cryptocurrencies for a 10 times market cap increase in 2024. The following selection will list the projects from the lowest to the highest current market cap.</p>
 <h2 class="wp-block-heading" id="h-can-nano-xno-see-a-10x-price-increase-in-2024">Can Nano (XNO) see a 10x price increase in 2024?</h2>
 <p class="paragraph">First, there is Nano (XNO), a $165.19 million capitalization cryptocurrency currently trading at $1.24. Interestingly, XNO is one of the few cryptocurrencies with a fully circulating supply and zero inflation. This means that any market cap increase would result in the exact same price growth.</p>
 <p class="paragraph">Therefore, Nano necessarily needs 10 times more demand for its capitalization to <a rel="noopener noreferrer nofollow" title="increase" href="https://thebittimes.com/tag/increase.html">increase</a> by that amount in 2024. This is possible but uncertain. XNO thrives by offering zero-fee transactions with nearly instant confirmation under normal circumstances, making Nano an ideal <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency for payments.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="471" src="https://cdn.thebittimes.com/images/2024/02/29/5985a586d7f3439820b8e1d64d0bca10.webp" alt class="wp-image-157758" srcset="https://cdn.thebittimes.com/images/2024/02/29/5985a586d7f3439820b8e1d64d0bca10.webp 1024w, https://cdn.thebittimes.com/images/2024/02/29/5985a586d7f3439820b8e1d64d0bca10.webp 300w, https://cdn.thebittimes.com/images/2024/02/29/5985a586d7f3439820b8e1d64d0bca10.webp 768w, https://cdn.thebittimes.com/images/2024/02/29/5985a586d7f3439820b8e1d64d0bca10.webp 1536w, https://cdn.thebittimes.com/images/2024/02/29/5985a586d7f3439820b8e1d64d0bca10.webp 1896w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Nano (XNO) market cap and yearly price chart. Source: <em>CoinMarketCap</em>
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 <p class="paragraph">The monster-in-the-closet for Nano, however, is spam attacks. On that note, the network faces one of the worst attacks in its history. Users have reported delays of 50 to 300 seconds on average, but some specific transactions could require hours or a few seconds to confirm.</p>
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    <p lang="en" dir="ltr">The nano network is currently undergoing performance degradation&nbsp;due to a potential attack meaning transactions are delayed,&nbsp; we are in the process of gathering additional information about the situation $XNO</p>— Nano (@nano) February 26, 2024
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 <p class="paragraph">Enthusiasts of the project have shown a positive bias on how the network responded to this potential attack. Thus, a successful outcome could trigger a 10 times <a rel="noopener noreferrer nofollow" title="increase" href="https://thebittimes.com/tag/increase.html">increase</a> in <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> cap moving forward, surpassing the $1.65 billion mark. Investors must be aware of considerable delays in withdrawing from <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> exchanges until the transactions’ backlog gets cleared.</p>
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">#Nano #XNO is surviving what appears to be one of the biggest and most sophisticated spam attacks yet (still waiting on more data <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>), and while degraded, is still outperforming just about every other monetary network for time-to-finality, with the majority of… pic.twitter.com/4zwkxjQwH8</p>— ᗰᒍ ♡ { / } (@atxmj) February 27, 2024
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 <h2 class="wp-block-heading" id="radix-xrd-for-a-10x-increase-in-market-cap">Radix (XRD) for a 10x increase in market cap</h2>
 <p class="paragraph">Second, we have Radix (XRD), a promising layer-1 blockchain with a $460.86 million market cap, trading at $0.044. XRD has yearly supply inflation of approximately 2.5%, which would proportionally impact the price action while increasing its capitalization.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="484" src="https://cdn.thebittimes.com/images/2024/02/29/c0d7e2b797467f6b059c0deb97362ffd.webp" alt class="wp-image-157759" srcset="https://cdn.thebittimes.com/images/2024/02/29/c0d7e2b797467f6b059c0deb97362ffd.webp 1024w, https://cdn.thebittimes.com/images/2024/02/29/c0d7e2b797467f6b059c0deb97362ffd.webp 300w, https://cdn.thebittimes.com/images/2024/02/29/c0d7e2b797467f6b059c0deb97362ffd.webp 768w, https://cdn.thebittimes.com/images/2024/02/29/c0d7e2b797467f6b059c0deb97362ffd.webp 1536w, https://cdn.thebittimes.com/images/2024/02/29/c0d7e2b797467f6b059c0deb97362ffd.webp 1896w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Radix (XRD) market cap and yearly price chart. Source: <em>CoinMarketCap</em>
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 <p class="paragraph">Notably, Radix thrives as one of the most innovative technological stacks in DeFi. Its asset-oriented model prevents wallet-draining hacks, which are common in projects similar to or compatible with the Ethereum Virtual Machine (EVM).</p>
 <p class="paragraph">Moreover, Radix’s development language, Scrypto, and its consensus algorithm, Cerberus, guarantee easy onboarding for developers, plus atomic-composability for the sharded transactions the network processes.</p>
 <p class="paragraph">A 10 times market cap increase would place XRD where Aptos (APT) is at the time of publication. The trigger could be further developments related to Cassandra’s deployment, which has shown impressive scalability results in closed testings, reported by Dan Hughes, Radix creator.</p>
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">Sequenced state transitions<br><br>Discussed often recently, where validator sets responsible for state with many transitions can optimize execution.<br><br>Thought I'd try an implementation &amp; test my theory.<br><br>16 groups, 128 nodes + usual node spec = ~31k swaps/s $xrd #crypto #radix pic.twitter.com/DAE6CcLm7G</p>— Dan Hughes | Radix (@fuserleer) February 7, 2024
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 <h2 class="wp-block-heading" id="monero-xmr">Monero (XMR)</h2>
 <p class="paragraph">Finally, Monero (XMR) could also face a 10 times market cap increase as its use as private and untraceable money brings renewed demand. Currently, XMR trades at $136.44 with a $2.51 billion capitalization after a massive sell-off following Binance’s delisting.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="471" src="https://cdn.thebittimes.com/images/2024/02/29/4fdf2dc3f8d3e58c677494e264d46bd3.webp" alt class="wp-image-157764" srcset="https://cdn.thebittimes.com/images/2024/02/29/4fdf2dc3f8d3e58c677494e264d46bd3.webp 1024w, https://cdn.thebittimes.com/images/2024/02/29/4fdf2dc3f8d3e58c677494e264d46bd3.webp 300w, https://cdn.thebittimes.com/images/2024/02/29/4fdf2dc3f8d3e58c677494e264d46bd3.webp 768w, https://cdn.thebittimes.com/images/2024/02/29/4fdf2dc3f8d3e58c677494e264d46bd3.webp 1536w, https://cdn.thebittimes.com/images/2024/02/29/4fdf2dc3f8d3e58c677494e264d46bd3.webp 1896w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Monero (XMR) market cap and yearly price chart. Source: <em>CoinMarketCap</em>
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 <p class="paragraph">Despite the significant liquidity loss in this recent event, the decentralized community keeps building solutions for the Monero ecosystem. For example, the SeraiDEX is a decentralized exchange project based on XMR, which is currently in the testing phases.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">Serai is looking for testnet validators<br><br>If interested in participating and gaining expertise critical to running a validator, please join our Discord: https://t.co/sKOQYoR7VB<br><br>The current rough estimate for resource requirements is 300GB of disk space, 12GB of RAM, and 4-6 cores</p>— Serai DEX (@SeraiDEX) February 4, 2024
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 <p class="paragraph">Being able to thrive even under adverse conditions could increase the market’s and users’ confidence in the leading privacy coin. This could consequentially lead to more demand and a market cap increase in 2024 or further.</p>
 <p class="paragraph">Still, the cryptocurrency market is uncertain and highly dependent on macro and microeconomics. Reaching a 10 times market increase is not guaranteed. Investors must have a clear investment strategy and understand the projects they are investing in cautiously.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/3-cryptocurrencies-for-a-10x-market-cap-increase-in-2024-tbt81101.html">https://thebittimes.com/3-cryptocurrencies-for-a-10x-market-cap-increase-in-2024-tbt81101.html</a></p>

3 cryptocurrencies for a 10x market cap increase in 2024

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