The digital currency recorded many twists and turns in 2023 but ushered in some rare gems that have the potential to soar by more than 3,000% in 2024.
Amidst the regulatory crackdown fueled by the United States Securities and Exchange Commission (SEC) when it labeled some of the top digital currencies investment contracts. Despite these uncertainties, many projects continued on the path of building their infrastructures, setting them up for a potential parabolic run when conditions become right.
With the trends in the market pointing towards the likelihood of a bull cycle, three coins, including Cardano (ADA), XRP, and Polygon (MATIC), are assets under $2 that have the capacity for a mega-rally ahead.
Here’s an insight into each coin’s trends and why they stand a chance to jump 3,000% in the near future.
Cardano is one of the most formidable smart contract networks around, but its valuation has been below expectations. At the moment, the coin’s price is pegged at $0.5981, and its market capitalization is $21,198,462,839. Despite this valuation, many consider Cardano as undervalued, a position that often sparks a debate considering the massive circulating supply of Cardano currently pegged at 35,362,302,157 ADA.
Despite this Cardano tokenomics, Input Output Global (IOG), the startup managing this protocol, has been hard at work making the blockchain better on all fronts. With new product releases and regular upgrades, Cardano is setting itself up for more mainstream adoption that can eventually boost its price.
Ahead of the bull run, Cardano has what it takes to jump 3000% to a high of $15.9.
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As the 6th largest digital currency by market capitalization, XRP remains one of the most-watched tokens in the industry today. Judged as undervalued with a $0.619 and $33,500,851,627 price tag and market capitalization, XRP’s time to shine is just around the corner.
With the regulatory clarity around the coin, institutions and businesses can now easily embrace the coin as a payment method, leveraging its speed and low cost. Ripple Labs is already setting the pace for these new alliances, including that with Uphold, which is designed for cross-border settlements.
As reported by The Crypto Basic, Market analyst EGRAG shared his predictions for XRP targets. EGRAG emphasized the significance of achieving these objectives and explained why reaching the $10+ goal is feasible.
The 3000% rise would take XRP to $18.57.
Polygon is the most capitalized Ethereum-based Layer-2, with a current market price of $0.953 and a capitalization of $9,137,069,186. Polygon has outperformed its records by onboarding more mainstream firms like Flipkart into its ecosystem.
It has also ushered in Polygon CDK, a toolkit that exchanges like OKX are now leveraging to launch their own L2 protocols. With Polygon’s aggressive infrastructural investment and the accompanying embrace on record, a parabolic rally is likely in the coming year.
Polygon which is currently trading at $0.99, the 3000% rise would take Matic to $30.