Financial troubles caused by Covid failed to disrupt the cryptocurrency market over the last couple of years as a clutch of tokens managed to reach record highs. The atmosphere of encouragement also allowed several brand new coins to break through, and in some cases, sparking growth much higher than others with decades of history. While some of that fervour has died down, new research has identified the coins with enough momentum to reach the $1 trillion market cap by 2023.
Cryptocurrency market capitalisations capture the total value of a single tradable coin.
The total market cap value is the product of a cryptocurrency price multiplied by the number of circulating coins.
Experts usually can’t produce a single value for each coin and come up with a range instead.
For example, price estimates for bitcoin tend to vary between $45,000 and $50,000 apiece, placing its value range between $846 billion and $940 billion.
Crypto Head claimed that bitcoin will make it first, with its average annual growth rate of 159 percent.
The firm estimated that that rate would allow it to add around $100 billion to its estimated current value of $902.1 billion within the next 10 months.
That would give each coin an estimated value of just under $55,000 within the year, nearly $15,000 above its current price of $41,487.70.
Ethereum isn’t currently as valuable, with less than half of bitcoin’s value at $448 billion.
But the coin can still make it to $1 trillion by next year thanks to its more generous annual growth rate, according to Crypto Head.
While worth half as much, it is growing almost twice as fast as bitcoin, with an estimated rate of 308 percent.
The Crypto Head estimations would mean that Ethereum could add up to $551.5 billion to its value by 2023.
Although those two currencies will make it to the trillion-dollar mark first, others aren’t far behind.
Crypto Head found eight more currencies with growth rates that could take them to the same mark by 2024.
Some are fan favourites and have existed for less than half the time of their competitors.
The coins tipped to pass the $1 trillion market value by 2024 are:
Tether: 267 percent growth rate
Crypto.com: 798 percent growth rate
BNB: 615 percent growth rate
Dogecoin: 716 percent growth rate
USD Coin: 577 percent growth rate
Decentraland: 1,684 percent growth rate
Fantom: 5,044 percent growth rate
Cardano: 423 percent growth rate