Bitboy Picks 4 Altcoins Set to Skyrocket Amid Market Outlook

By TheCoinrise Media
about 2 months ago

Renowned crypto analyst Ben Armstrong, also known as “BitBoy Crypto,” has revealed his top picks for altcoins which have the potential to gain during the current bullish season projecting a future market worth of $16 trillion.

In an X post, Armstrong expressed conviction that real-world assets (RWA) tokenization will shape the future of the crypto space. In his bid to strategically position investors for the projected profits ahead, he listed four specific cryptocurrencies that he believes hold promise for substantial returns for RWA tokenization.

BitBoy Crypto’s Fantastic Four Altcoins

The four crypto projects with a focus on tokenization include Ondo Finance (ONDO), Goldfinch (GFI), Pendle, and Realio Network (RIO).

Ondo Finance is led by former Goldman Sachs employee Nathan Allman and provides institutional-grade investment products leveraging blockchain technology. With support from investors like Coinbase Ventures, Ondo offers four RWA offerings. This allows investors access to various cash management products. The native token ONDO has gained significant traction since its launch in January, achieving a market cap of $1.14 billion.

Goldfinch (GFI) operates as a global credit protocol. It offers stablecoin yields sourced from sustainable real-world economic activities. The platform’s primary goal is to enhance accessibility in Decentralized Finance (DeFi) lending by enabling loans that accept collateral on and off the blockchain. GFI token has experienced a remarkable surge, trading at $4.57 after soaring by over 265% in the past four weeks.

Similarly, Pendle and Realio Network (RIO) are tokenization platforms offering comparable services to the investing public. Both PENDLE and RIO tokens have witnessed substantial growth, surging by over 140% in the last 30 days, aligning with the positive sentiment surrounding Real World Asset tokens.

Popularity of RWAs

According to CoinGecko’s recent findings, RWAs emerged as the second most profitable crypto narrative in the first quarter of 2024, trailing only meme coins. Investors have seen an average gain of 285.6% among the top ten RWA tokens during Q1 2024. This lends credence to Armstrong’s projections as regards the growing interest in tokenized assets.

Last year, Huros, the luxury watch company headquartered in Singapore, entered real-world asset tokenization by offering fractional ownership of high-value timepieces. It offered investors ownership of a share of a luxury watch for a fraction of the full price, thus making the prestigious assets accessible to a broader audience.

Tokenized Asset Market $16 trillion Potential

Meanwhile, a report by the Boston Consulting Group, says the tokenized asset market is projected to reach $16 trillion by 2030. 

All these predictions analysts believe are further fueling the bullish sentiments within the industry regarding tokens that offer solutions. Institutions are gradually adopting as seen with UBS, the leading banking institution based in Switzerland which debuted a live pilot of a tokenized version of its Variable Capital Company (VCC) fund last year.

Armstrong insists that as efforts to migrate real-world assets onto blockchain gain momentum, the conversation within the crypto sphere will increasingly focus on a “tokenized economy.” Predictions like Armstrong’s are common just like the CoinRise team highlighted some underrated crypto with huge potential for 2024.

The post Bitboy Picks 4 Altcoins Set to Skyrocket Amid Market Outlook appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

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