Renowned economist Raoul Pal predicts a 300x market cap boom for the Web3 and altcoin market in the coming years.
Raoul Pal says innovative altcoin markets are about to explode
The macro expert expects the market cap of cryptocurrencies and Web3 projects to grow at an unprecedented rate. In a recent Google Tech Talks interview, Pal estimated the market’s total value to reach $300 trillion.
Pal bases his prediction on the movements he has already observed surrounding the Web3 and altcoin market. In recent months, Web3, in particular, has attracted some of the biggest names in technology and finance. Pal notes that this is rapidly attracting venture capital (VC) investors to the industry.
The macro expert added that at the moment, investments are moving slowly due to regulatory concerns. However, he states that this is similar to the early days of the internet and that adoption took time:
All major Web2 players are involved. The financial system is a system in which everyone is involved. They’re just moving forward cautiously due to regulatory concerns, so it’s unlikely to see them. But everyone is aware that everything is here. Personally, it’s unlike anything I’ve ever seen. It’s like the internet in some ways, but it moves faster and has a wider scope – which may sound ridiculous – because it adds value to the protocol layers on its own.
The market’s largest Web3 coins
Right now, from data storage to broadcast platforms, the cryptocurrency market is home to a host of innovative Web3 projects. In a possible rally predicted by Raoul Pal, the following cryptocurrencies will take center stage.
- Polkaot (DOT)
- Filecoin (FIL)
- Internet Computer (INP)
- Theta Network (THETA)
- BitTorrent (BTT)
- The Graph (GRT)
- Helium (HNT)
- Casper (CSPR)
- Basic Attention Token (BAT)
- Stacks (STX)
As Kriptokoin.com, we have included the current Web3 investments of Google and the crypto money exchange CryptoCom in this article.
“I’m waiting for 300x”
Pal included this prediction in the second half of the interview. Taking a look at the current market cap and price movements of cryptocurrencies, the expert says:
So there’s a tremendous increase in value coming in. If I compare where we are now, let’s call it a trillion dollar asset valuation in cryptocurrencies. Nearly all traditional asset markets are worth between $200 trillion and $300 trillion each. We’ll probably get there in 10-15 years.
Finally, it will add to the “fastest and largest” crypto markets the world has ever seen, according to Pal:
Bigger than oil. It is superior to the internet in size. This is a completely different situation. This is a very popular phenomenon. The idea is that when the macro is resolved, everyone will flock to the industry. Remember that everyone is starting initiatives in this area. We will see tons of products, new changes and new innovations in the next six to 12 months. Thus, thanks to the 60 billion dollar VC investment, we will move the entire market forward exponentially.
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