The anonymity-centric altcoin known as Monero (XMR) is in the news lately as the ‘best buy in crypto’ according to many analysts. Even though Bitcoin is not far behind the altcoin, Monero is rising fast and the rise seems to have attracted many potential investors on the market.
According to a new report issued by an initial coin offering (ICO) advisory and research firm named Satis Group, Monero (XMR) is currently the 11th largest cryptocurrency – but that could change soon. As the report predicts, Monero (XMR) could be worth $18,000 within the next five years – which would represent an 18,200% increase from its current value of $98.
The ICO advisory firm attempts to forecast what shape the cryptocurrency market will take over the next decade. The reason why XMR is in the spotlight now is simple – the firm expects that 90% or more of its crypto asset valuations over the next decade will be linked – not to decentralized applications (dApps) or other use cases – but to offshore deposits.
As a cryptocurrency that is uncensorable and helps users obfuscate data, Monero is definitely one of the top gainers in this decade. In the other group of potential crypto assets, Satis ranks Bitcoin as a top-gainer over the next couple of years, predicting a $96,000 price mark in five years.
As the firm reported:
“Despite a lack of appeal during retail frenzies, we continue to believe that BTC and its network effect will dominate end-market share within Currencies and the overall cryptoasset market, driven by: 1) increasing liquidity and purchasing avenues, 2) increasing brand recognition, 3) its position as the default base-pair within the crypto markets, 4) declining relative volatility, 5) relative lack of attack vectors, 6) network capacity alleviation through the maturity of layer-2 solutions, and 7) an increasingly high attack and overthrow cost.”
Other large-cap cryptocurrencies are also expected to appreciate against the dollar, according to Satis, and these may include Ethereum, Litecoin, and Dash – however, all of them will see their market share crater compared to the price of XMR and BTC.
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