Can $1K become $10K in Crypto in 2024?

The main problem. How can you grow your portfolio with 10x or better investments in tough market conditions? The added problem. A lot of crypto projects have 10x or more potential. 

So how do you choose? Fighting against the tough market for alts right now is difficult. But it is doable. Today, 4 of our favorite crypto projects we see with low downside risk and 10x or more potential.

1) Bitcoin

Starting on great potential 10x projects, we have Bitcoin. You are probably tired of me saying that if you don’t have some Bitcoin in your portfolio, then you are doing crypto all wrong. But it’s true. And you are if you don’t have any. The most recent narrative around Bitcoin aside from the ETF is that Bitcoin is digital gold. And naturally, that means that comparisons to gold will get more common.

Source: X

The total market cap for gold is $16 trillion. And the total market cap for Bitcoin is $1.3 trillion. So a 10x in Bitcoin still makes it less valuable than the entire gold market. Even though, unlike gold, Bitcoin is:

• Digital so it’s easy to send it everywhere.
• Free or very low cost to store when compared to physical gold.
• Has no phony derivative or hypothecation concerns like gold with its “paper” gold and gold certificates. Often they are issued in a higher quantity than the physical gold to back them. Although Blackrock might help close the gap on this advantage and get into hypothecation and wrapping and derivative products for Bitcoin. I would be more surprised if Blackrock doesn’t do this eventually.
• Available anywhere.
• Will become the money of the internet.

Source: X

And gold has its benefits, too. But Bitcoin has more, especially in the digital age that we are now living. All the Bitcoin first investors I know think the same thing on this line, that Bitcoin’s market cap eventually eclipses gold. And when it does that will be 16x minimum and more than the 10x we are seeking.

2) Polygon

Next is Polygon, one of our old standbys. But we still love it. The only big question mark upcoming for Polygon is the token migration from MATIC to POL. Yet, it’s not a real problem. Just an unknown. The POL token will have more utility and be useful across Polygon products, not just the PoS blockchain as MATIC is now.

Its zkEVM is crushing by improving zero-knowledge tech for privacy between Layer 2’s and Ethereum. It allows for batching more transactions together. That means better scalability for any L2 that uses it. And its Agg Layer is doing even better. For aggregation, the idea is to use a layer built on top of all the zillion Ethereum Layer 2s so the liquidity and app access isn’t as fragmented as it is now.

Source: X

By fragmented we mean that apps and crypto on Arbitrum often stay only on Arbitrum unless given a good reason to move. But now Arbitrum, Optimism, Base, and Blast will be able to combine their app access and liquidity for better volume and pricing in gaming and DeFi.

You may not be hearing a lot from Polygon recently, but that doesn’t mean they aren’t making moves. They are making lots of them. And at prices near 40 cents, it’s a real bargain. A 10x from here would take it to $5 since nearly all the supply is in circulation. And from $4.7 billion to $47 billion. Doable. 

Source: X

That’s lower than its all-time high, which we expect POL to challenge when people discover Layer 1 chains again not named Solana.

3) ChainGPT

One of our AI favorites is ChainGPT. Its current market value is only ~$80 million. A 10x would take it to $800 million. Very doable. Some of the things we like about ChainGPT are:

• It’s an NFT generator for individual tokens or collections.
• Launchpad for AI and Web3 projects.
• AI-assisted trading help and research.
• The power and performance of general Web3 infrastructure and AI infrastructure specifically, which is what ChainGPT provides.
• Using AI to create better, faster, and cheaper smart contracts.

Source: X

You don’t need me to tell you the potential of AI or AI and crypto together. Infrastructure tools that make using AI easier will be the first line of successful projects within AI. All users of ChainGPT infrastructure need $CGPT for payments.

They cost A LOT less than building out an AI model. They cost a lot less than the typical computing power needed for an AI project. At $80 million, we think this project is a steal.

3) Goldfinch

And one of our favorites as a 10x possibility from the RWA sector is Goldfinch. Goldfinch is one of the most advanced RWA platforms by TVL. That means that real-world people are using it to tokenize real-world assets.

Goldfinch has a general pool where you can earn 7.6% on your USDC. That’s a nice return to start with. Then, as a decentralized credit protocol, they have investment funds for various niches like:

• By geography like the African Innovation Fund.
• By industry like the Carbon Reduction Fintech Fund.
• Both like the Emerging Markets Southeast Asia Fund.

Source: X

Today, Goldfinch’s Senior Pool is paying 9.26% of your USDC. That money is spread out over a few different pools and types of investments. A lot of the RWA market has been talked about so far. Big things are coming if even a fraction of the options come to light.

So why not start with a RWA project that’s already doing it? Goldfinch’s active loan volume is close to $100 million and growing. They are FAR ahead of most of the competition. Their $GFI token has a market value of $147 million. A 10x would make them a $2.1 billion project.

Possible for a leading crypto-RWA project that’s already tokenizing assets and making loans? Absolutely. Seems like a conservative estimate to us.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.

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