7 Cryptos That Could Move Over 10 Times Higher

Cryptos - 7 Cryptos That Could Move Over 10 Times Higher

Source: PixieMe / Shutterstock.com

I wanted to explore for myself seven cryptos that could move over 10 times higher over the next year or so. I like to write articles here for InvestorPlace where I explore potential investments for myself. This has the added benefit of making me have to carefully conduct due diligence on these cryptos.

These cryptos are highly speculative. But they all seem to have one common trait — very low market capitalizations, with average market caps below $2 billion. Of course, there is no guarantee that their market caps could rise from here. But at least with these cryptos, there is the potential to skyrocket if interest in them takes root.

And, as always, keep in mind that these cryptos are highly speculative. You could very easily lose most or all of your investment.

Moreover, these cryptos are not easy to acquire. It turns out that most of them can only be bought using another cryptocurrency as the exchange medium. I will describe for each of these on what exchange you can buy them and how to do the purchase.

For example, none of these are available on Coinbase Global (NASDAQ:COIN). Most are available on Binance US, but not all of them can be bought there. And even if they are you typically will have to either buy a stablecoin like Tether (CCC:USDT-USD) first. You will likely have to use the USDT to perform an exchange to obtain any of these cryptos.

Here is the list:

  • Trader Joe (CCC:JOE-USD)
  • Ramp (CCC:RAMP-USD)
  • Bridge Mutual (CCC:BMI-USD)
  • Decentraland (CCC:MANA-USD)
  • Floki Inu (CCC:FLOKI-USD)
  • Reserve Rights Token (CCC:RSR-USD)
  • ICX (CCC:ICON-USD)

In addition, as a bonus at the end of the article, I discuss one or two runner-ups  — several cryptos that are not yet public or may have recently completed an ICO (initial coin offering).

Let’s dive in and look at these.

Cryptos That Could 10x: Trader Joe (JOE-USD)

overhead shot of hands on a white keyboard

Source: Shutterstock

Market Cap: $350 million

Trader Joe is the largest Avalanche (CCC:AVAL-USD) based trading and lending exchange, as measured by TVL (Total Value Locked), according to Cointelegraph. The company also hopes to develop future Defi products (decentralized finance), according to an initial article from the company in Medium.

For example, the company just announced at the end of October that it’s releasing a new site called Banker Joe. This is a lending and borrowing platform, powered by Chainlink (CCC:LINK-USD) blockchain software.

Trader Joe intends to launch new products including a crypto options exchange. The Trader Joe token represents the value of the underlying business and should rise significantly over the next year as the level of trading and activity in its sites increases.

Ramp (RAMP-USD)

hands typing on a computer keyboard under a computer screen

Source: Shutterstock

Market Cap: $115 million

Ramp is a U.K. decentralized blockchain that helps users stake their non-Ethereum crypto on Ethereum- based platforms. In its essence, Ramp is a Defi (decentralized finance) app.

RAMP DeFi allows the staked capital of non-ERC-20 staking blockchains to be collateralized into a stablecoin known as rUSD. rUSD is available and used on the Ethereum blockchain.

rUSD and eUSD holders can exchange, lend or borrow both tokens on the Ramp Defi site. They can create liquidity for users with capital locked into staking arrangements.

Recently the company raised $10.1 million to help power its adoption. In addition, the crypto intends to add new chain expansions, allow rUSD minting by allowing people to borrow rUSD in order to earn high yields on the Ethereum network. As the popularity of this crypto increases, expect the crypto to take off over the next year.

Cryptos That Could 10x: Bridge Mutual (BMI-USD)

A photo pf physical representations of cryptocoins above wooden tiles bearing black letters that spell out insurance.

Source: Najmi Arif/ShutterStock.com

Market Cap: $33 million

Bridge Mutual is a decentralized insurance platform that provides insurance coverage for stablecoins, centralized exchanges and smart contracts. In other words, it ensures that the stablecoin in which you put your crypto money will actually stay stable and not crash.

It also provides insurance for other Defi products, including high-interest rate yield farming and “atomic swapping” Defi products. This is where you swap one crypto for another without using a stablecoin like Tether in between.

One of its key features is that it will soon offer insurance for Solana (CCC:SOL-USD) based yield products. As I have written in a recent article, Solana is set to become the third-largest cryptocurrency. This will make it the only company that insures Solana-based Defi products, especially with NFTs (non-fungible tokens), and other Defi contracts.

As a result, look for BMI-USD crypto to rise substantially over the next year as interest in Bridge Mutual’s insurance products takes off.

Decentraland (MANA-USD)

Decentraland logo displayed on smartphone screen, teal background behind the phone

Source: shutterstock.com/Piotr Swat

Market Cap: $6.5 billion

Decentraland is a crypto-powered virtual reality game — or more correctly a virtual living platform written on the Ethereum (CCC:ETH-USD) blockchain. In Decentraland’s universe, you can purchase land, outfits, scenes, and a host of other virtual assets using MANA tokens. They can also appreciate in value. You can later sell them to others, so it becomes an alternative reality. It’s a “world owned by users.”

MANA tokens are now trading for $3.60 after spending a long time below $1. Meta’s (NASDAQ:FB) move to virtual reality has sparked huge interest in this cryptocurrency and its associated reality. Recently, the site held the first-ever Metaverse Festival from Oct. 21 to Oct. 24.

Everything in Decentraland has parcels of LAND. Some parcels also have themed communities or Districts. They have common interests and uses.

Decentraland is still under active development and is continually changing. The value of MANA tokens reflects the increased interest and popularity of the Decentraland virtual world.

Cryptos That Could 10x: Floki Inu (FLOKI-USD)

An image of a corgi wearing a horned viking helmet above text saying Floki Inu on a black background.

Source: Zie Project/ShutterStock.com

Market Cap: $1.519 billion

Floki Inu is a meme coin, along the lines of Dogecoin (CCC:DOGE-USD) and Shibu Inu (CCC:SHIB-USD). It was started as a joke based on Elon Musk’s Shiba dog, which he named Floki. It has created a virtual crypto world, a university, and is developing a game based on an alternative reality.

The backers recently offered users a sneak peek at its upcoming NFT-based metaverse game. The game’s name is Vahalla. Elon Musk is advertised to be one of the in-game characters.

Floki’s backers will be running a TV marketing campaign starting during the first week of December that will run through Christmas. The idea is to get people to buy Floki tokens just as Dogecoin became popular in the public mindset. Indeed is now used as a means of payment, as I wrote about recently.

Look for Floki Inu crypto to rise as the company’s ongoing marketing campaigns take root.

Reserve Rights Token (RSR-USD)

A concept image of the world with different crypto icons.

Source: Shutterstock

Market Cap: $448 million

Reserve Rights Token is the arbitrage currency that supports the value of a sister stablecoin called the Reserve Token (CCC:RSV-USD). Unlike Reserve stablecoin, the Reserve Rights token is volatile and its function is to keep the RSV stable.

The reason for this is that Reserve stablecoins have a basket of cryptocurrencies backing them managed by smart contracts. So the RSR token is an investment vehicle to keep the currencies in the RSV pool stable through injections and deletions. In addition, Reserve Rights tokens are minted and sold when the RSV stablecoin loses its parity with the U.S. dollar.

According to Coinmarketcap, this provides an arbitrage opportunity for RSR token holders. Arbitrageurs can benefit from this mechanism when RSV trades above $1, by buying RSV at $1 from the Reserve smart contract using RSR. They can then sell it at the current market price to net the difference as profit.

This option is only available to RSR holders. It’s currently one of the main drivers for holding RSR tokens.

Cryptos That Could 10x: ICX (ICON-USD)

a digital graph overlayed over hands typing and a pile of crypto coins

Source: Shutterstock

Market Cap: $1.4 billion

ICX is a decentralized blockchain South Korean network focused on interoperability. It is a general-purpose blockchain protocol based on the native cryptocurrency ICX that can run smart contracts and other Dapps (decentralized apps). The ICON Network uses a proprietary blockchain engine called ‘loopchain’ that can process hundreds of transactions per second.

ICON’s founding purpose was to “ensure the integrity and transparency of data between institutions and companies.” The company began in 2017 in South Korea and uses the ICX crypto to tokenize the value of its ICON blockchain network.

In effect, this is a play on South Korea’s adoption of blockchain technology. Look for the crypto to move substantially as ICON-based blockchain applications take hold in that country.

7 Cryptos That Can 10: Summary and Bonus

I mentioned there would be a few bonuses of crypto picks that are not yet public or newly public.

One of these is Portal Defi. It is not yet public but could potentially soon have an ICO. It was recently backed by a number of well-funded crypto venture capital companies, including the well-known Coinbase Ventures. Portal Defi offers a wallet and Bitcoin Defi (decentralized finance) app and offers a “Layer 2” exchange (with upgraded smart contract capabilities).

Another project to watch is Ardana (CCC:DANA-USD), which recently came public. It is a Cardana (CCC:ADA-USD) based Defi hub offering a stablecoin in USD and other major currencies. Its non-U.S. ICO recently ended but the crypto does not yet seem to be trading publicly.

Once it does it might be worth investigating further. However, as a stablecoin, you should be aware that it may not rise significantly. However, I highlight this crypto in case it has some spin-off cryptos or in case the actual crypto that goes public is not a stablecoin.

On the date of publication, Mark R. Hake held a LONG position in FLOKI-USD. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Mark Hake writes about personal finance on mrhake.medium.com and runs the Total Yield Value Guide which you can review here.


Article printed from InvestorPlace Media, https://investorplace.com/2021/11/these-7-cryptos-could-move-10-times-higher-based-on-their-recent-catalysts/.

©2022 InvestorPlace Media, LLC