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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“The first one is that it can support multiple collateral types. This, of course, means ERC-20 tokens. It also means Bitcoin through WBTC. A range of cross-chain assets that are emerging now. Also, there will be other stablecoins. Centralized stablecoins that already exist on the Ethereum blockchain. But most importantly, security tokens.”The MakerDAO foundation initially owned all of its MKR tokens but as Rune explained, they sold them off to multiple huge players in the EthereMum world in order to fund teams of 100 people. He says that MKR exists only to be able to vote in the system. The system rewards people who hold CDPs and when everything goes well, the MKR total supply is reduced, tokens get burned off and the value of the remaining tokens increases. Dai is extremely unique and some consider it as the real stablecoins, unlike the pegged coins. Dai is built on an open system so people who invest in cryptocurrency can access the stability of the Oracle system. Christensen also explained how real security tokens operate better in the world of traditional assets. He said:
“Security tokens are still something that is quite new. But what that really represents to Maker is the ability to now interact with real-world assets. The ability to interact with real-world finance and provide arbitrage opportunities between the traditional finance world and the tokenized world. That means that in the future the Dai will not just be backed by volatile cryptocurrencies, but things like real estate, bonds, and stocks.”The most important way to use Dai is as a stablecoin. If anything happens to the Ethereum network, there could be some negative consequences to the market but MakerDAO couldn’t get in a worse position than the one last year.
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