In the lead up to the next bullrun now is a good time to research into strong projects that will look to out-perform BTC over the duration of the cycle.
L1's are a large part of the cryptocurrency market with ETHEREUM being the leading L1 altcoin, a coin with a market cap of ~220B, due to diminishing returns with every cycle investing in projects that have yet to grow to this level offer a higher ceiling for potential gains.
One of those L1's is INJECTIVE, an L1 that currently sits at approximately half its ATH set in May of 2021. A POS blockchain "built for finance" based on the COSMOS SDK able to facilitate cross chain transactions with other major L1's.
Looking at competing L1's like SOLANA where it has an ATH of $260, an almost 8x from current price. This naturally brings on more sell side pressure as people that are still underwater from the previous cycle and are inclined to sell at break even as soon as price reaches that level. This will be the case all the way up to all time high.
However, for INJ once it breaks it's previous ATH there is no sell side pressure as everybody is in profit every time a new ATH is made. This then snowballs into brand new territory, retail likes to FOMO in and smart money takes their profits.
When looking at the last bullrun, CORDANO reached a total market cap of ~110B, if INJ was to do the same it would mean a price of $1100/INJ. Not saying this is going to happen but stranger things have happened.
Very exciting prospect and definitely a project I am anticipating to be one of the best performing in 2024-2025.
L1's are a large part of the cryptocurrency market with ETHEREUM being the leading L1 altcoin, a coin with a market cap of ~220B, due to diminishing returns with every cycle investing in projects that have yet to grow to this level offer a higher ceiling for potential gains.
One of those L1's is INJECTIVE, an L1 that currently sits at approximately half its ATH set in May of 2021. A POS blockchain "built for finance" based on the COSMOS SDK able to facilitate cross chain transactions with other major L1's.
Looking at competing L1's like SOLANA where it has an ATH of $260, an almost 8x from current price. This naturally brings on more sell side pressure as people that are still underwater from the previous cycle and are inclined to sell at break even as soon as price reaches that level. This will be the case all the way up to all time high.
However, for INJ once it breaks it's previous ATH there is no sell side pressure as everybody is in profit every time a new ATH is made. This then snowballs into brand new territory, retail likes to FOMO in and smart money takes their profits.
When looking at the last bullrun, CORDANO reached a total market cap of ~110B, if INJ was to do the same it would mean a price of $1100/INJ. Not saying this is going to happen but stranger things have happened.
Very exciting prospect and definitely a project I am anticipating to be one of the best performing in 2024-2025.