Ripple CEO predicts doubling of market cap: $5 trillion by 2024

The CEO projects an increase in total market capitalization to $5 trillion by the end of 2024.

This forecast is based on various macroeconomic indicators, such as the approval of the first US spot Bitcoin ETFs and the impending Bitcoin halving.

The question arises as to which cryptocurrency is most suitable to buy in view of this expected growth.

Market expansion driven by institutional adoption

Garlinghouse highlighted the first macroeconomic change: the growing participation of institutional investors in the cryptocurrency market since the launch of spot Bitcoin ETFs.

“I’ve been in this industry a long time and I’ve seen these trends come and go,” Garlinghouse told CNBC; “I am very optimistic myself. I think the macro trends, the big pictures like the ETFs, are really attracting institutional money for the first time.”

ETFs have been a game changer in the market because they give institutional and retail investors access to Bitcoin without direct ownership.

In addition, the Bitcoin halving is coming up again this month after 4 years, following the Bitcoin Cash halving earlier this month. Historical trends have shown us that the Bitcoin halving is impacting market dynamics and pushing Bitcoin’s price to a new ATH. The halving reduces the reward for Bitcoin miners, reducing the available supply of new bitcoins.

“You see this driving demand, and as demand increases, supply decreases,” Garlinghouse said. “You don’t need to have studied economics to know what happens when supply shrinks and demand increases.”

Positive regulatory dynamics

Garlinghouse also highlighted changes in the current regulatory approach by US regulators to a potentially more positive and understanding approach that could act as a catalyst for market growth.

“One of the things I will say about the macro tailwind for the industry: I think we’ll get more clarity in the United States,” Garlinghouse said. “The US is still the largest economy in the world, and it has unfortunately been one of the more hostile crypto markets. And I think that will start to change too.”

It was quite unexpected to hear this from the CEO of Ripple, whose company has been hit with an astonishing $1.95 billion in fines and penalties, far exceeding the amount they have made from selling unregistered XRPs.

In conclusion, Garlinghouse said of the future of the market:

“The total market capitalization of the crypto industry… can easily be predicted to double by the end of this year… [aangezien deze] is influenced by all these macro factors.”

Ripple CEO predicts crypto market will double in size to $5 trillion by the end of 2024 https://t.co/H8xwyVMHwC

— CNBC (@CNBC) April 7, 2024

The total crypto market cap was approximately $2.6 trillion as of April 4. If the market were to double, that would indicate a new total crypto market cap of $5.2 trillion.

Given Garlinghouse’s optimistic view of the market, it is essential to focus on market opportunities with high potential for investors. Here are a few coins that have a high chance of big increases.

Sloth (SLOTH)

SLOTH, a memecoin called Slothana (SLOTH), was just released during a presale and in this short time they have collected over $10 million. The sloth, who has given up the boring corporate job and embraced the Solana blockchain, is now busy finding various income channels for Solana enthusiasts through cryptocurrency.

Slothana has become popular for its slogan and also for advertising an impending crypto airdrop when the coin is operational. The Sloth’s investment target is set at $420 million, and anyone who backed in the early stages can get incredible benefits if they back early.

🚀 Get ready to blast off with Slothana! 🌿 We’re gearing up for launch and this is your last chance to grab your $SLOTH 🌕 Don’t miss out on the action as we prepare to announce our official launch date. Watch this space. #slothana #memecoin

— Slothana (@SlothanaCoin) April 8, 2024

Since a SLOTH token goes for one SOL during the presale and its value is 10,000 tokens for a SLOTH, you can exchange approximately $0.182 for a single SLOTH. According to the news coming out of the end of the presale, this will happen in a while and when that is over, the token will be listed on the first exchange and therefore potentially have a much higher value.

5th Scape (5SCAPE)

The latest crypto project known as 5th Scape (5SCAPE) is bringing to life its own native token that could potentially see high value growth, acting not only as a means of transaction but also granting access to an emerging hub of Virtual Reality. (VR) and Augmented Reality (AR) experiences. Developed with the aim of meeting the needs of both VR and AR users and developers, 5th Scape forms an ecosystem that all parties can benefit from.

In this innovative ecosystem you can enjoy playing your favorite game, watching a movie or having an educational experience. 5th Scape connects VR and AR experiences, giving you access to both forms of technology. Moreover, you can also purchase premium VR glasses and accessories from 5th Scape to further enhance your immersive experience.

🚀 Our presale has surged past stage 3!

🌐 Join us now and delve into a world of virtual reality with our multi-utility token.

🎉 Don’t miss out on being part of our vibrant community! #cryptocrash #cryptocrash #Wormhole #cryptocurrency #5thScape #Presale #4thstage 🌟 pic.twitter.com/QeznEVAvFJ

— 5th Scape (@5th_scape) April 4, 2024

When you use the 5SCAPE token you will have many benefits, such as access to premium content, staking rewards, and the ability to vote on the future of the project. It is also interesting that the project has already raised over $4.3 million from presale tokens at a price of $0.00285, which could show how popular 5th Scape will be.

Bitcoin Minetrix (BTC.MTX)

The Bitcoin Minetrix (BTCMTX) presale has raised nearly $12.9 million of its $15 million goal and is well on its way to launch. BTCMTX provides access to passive rewards and Bitcoin cloud mining as an essential tool for traders and investors.

One of the best ways to earn passive income with cryptocurrencies is by staking BCMTX, where you can earn additional tokens and mining credits that can be used for cloud mining of Bitcoin. You can get a chance at additional passive income in the form of a new token that can rise so high and Bitcoin, which is predicted to be worth more than $100,000 this year.

🚀 @Bitfarms_io is gearing up for the #Bitcoin halving with a massive $240 million investment in upgrading its mining equipment! 💰

With the hash rate capacity tripled and efficiency boosted, how do you think this will impact the $BTC mining landscape?

Also another breakthrough… pic.twitter.com/UWDiaEqLfW

— Bitcoinminetrix (@bitcoinminetrix) April 3, 2024

During the presale you can get a token for only $0.0145. Then, during the presale period, you will have the chance to stake BTCMTX and be passively rewarded until the token is launched on the first exchange and the stake-to-mine dashboard becomes operational.