WILL THERE BE A CRYPTO ABLE TO REACH BITCOIN MARKET CAP?
We live in a time of general downturn in the Crypto markets and we are very far from the 2021 records in which Bitcoin exceeded a market capitalization of $ 1 trillion.
In any case, Bitcoin still stands out above all as token value and market capitalization, as it is natural for the coin that represented the initiator and founder of the crypto market.
On November 10, 2021, the BITCOIN had hit $ 68,990, occupying the largest share of the entire cryptocurrency sector. It accounted for 60% of the entire market capitalization, although that slice has dropped from 80 to 90% in the previous five years, when digital currencies were much less well-known and traded. The second crypto currency, Ethereum, had a capitalization of 13% of the entire market in 2021, while all other major currencies were under 2%.
“Bitcoin has started to get so big that it likely creates its own demand as companies and institutions start making forays into a field they would not have touched a few months ago” Deutsche Bank analyst Jim Reid wrote in a statement. “Ironically, it is turning into a credible asset class for many, increasing so much in recent times and also gaining growing institutional support“, he added.
Today, after just over 6 months, the BITCOIN has lost over 70% and the scenario is totally different. More and more cryptocurrencies are making their way, albeit in a context of general contraction. And in the market it is known that it is in the so-called DIP that the new gems are found.
These days we have identified one in particular. It is the only crypto that has reached such a value per single token that it even surpasses Ethereum. We are talking about 2G Carbon Coin, ticker $2GCC, a cryptocurrency just listed in DEX last 8 July which in a few days exceeded $ 2,100, obtaining a capitalization that surpasses that of the entire crypto market. However, It is clear that this is only “potential” capitalization as the effect of the price increase for each token is due to the very low liquidity that the Team initially made available to the market with respect to the demand obtained. The decisions that will be taken in the next few hours by the founders of the token, a Tunisian industrial group based in Switzerland active in the refining of bioethanol, in agricultural activities and in the trading of carbon credits will be decisive.
Yes, because if on the one hand the pump obtained can give great attention to the $2GCC, on the other hand, if not properly managed, it could turn into a boomerang. It will certainly be difficult to present to exchanges a crypto with a circulating quantity in relation to the value per single asset such as to exceed the market. Therefore, if the 2G Carbon Coin team wants to maintain such a high market price, it can only instil confidence in investors by burning, for example, as much supply as possible, i.e. reducing the quantity in circulation. Another choice could be the reverse, or to release liquidity that exceeds demand by drastically reducing the value of the token. In any case, both solutions are chosen to be weighed in detail against an extremely precise and adequately communicated positioning and marketing strategy.
The $ 2GCC project certainly benefits from the rare peculiarity of NOT being born from the blockchain, but of having landed from a ten-year industrial project that denotes solidity, investments and institutional ties such as those with the Tunisian government.
There is another objective element. Even when the token was at $ 500 no one would have thought it would still rise. It is now at $ 2,100. The Gem is there but it will take time to see if it will continue to shine.