2024

Trillion

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<a href="https://x.com/RaoulGMI/status/1790009238829273453" rel="noopener noreferrer nofollow">Raoul Pal</a>, known for his provocative macroeconomic opinions, has sparked interest with his recent remarks on the trajectory of the cryptocurrency market. In a thought-provoking post, Pal dove into the nuances of what he calls "The Everything Code," explaining how the global liquidity cycle since 2008 has shaped macroeconomic trends.
According to Pal, this cycle, characterized by near-perfect cyclicality, has been instrumental in propelling growth assets, particularly technology stocks and cryptocurrencies, to new heights.
Central to Pal's thesis is the idea that the depreciation of fiat currency, caused by increased liquidity to service debt obligations, serves as a catalyst for rising asset prices. He argues that this phenomenon, combined with the rapid adoption of cryptocurrencies, similar to the exponential growth of the internet, could pave the way for a monumental upsurge in cryptocurrency market capitalization.&nbsp;
Pal foresees staggering growth from $2.5 trillion to $100 trillion, backed by Metcalfe's Law and fueled by unprecedented levels of adoption.
<blockquote>
 $10T this expansion, $100T later. <a href="https://t.co/IqGD43xOxG" rel="noopener noreferrer nofollow">https://t.co/IqGD43xOxG</a>— Chris Burniske (@cburniske) <a href="https://twitter.com/cburniske/status/1790066147657703778?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 13, 2024</a>
</blockquote>
Chris Burniske, former head of cryptocurrencies at&nbsp;<a href="https://u.today/ark-invest-makes-crucial-amendment-to-sec-filing-for-eth-etf" rel="noopener noreferrer nofollow">ARK Invest</a>, agreed with Pal's bullish outlook, stating that the cryptocurrency market could witness monumental growth, reaching $10 trillion in the near term and soaring to $100 trillion in the future.&nbsp;
Pal enthusiastically endorsed Burniske's view, emphasizing that there is a consensus in certain quarters of the financial community about the transformative potential of cryptocurrencies. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="d39ebbee-3ae3-48d2-befa-db7f7982c669" src="https://u.today/sites/default/files/inline-images/bitcoin-dominance_%28Coinmarketcap%29.png">Source: <a href="https://coinmarketcap.com/charts/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
As of now, according to the TOTAL Index Group, crypto market capitalization is estimated at $2.213 trillion, of which&nbsp;<a href="https://u.today/bitcoiner-samson-mow-slams-ripple-for-spreading-fud-about-bitcoin-and-tether" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> holds $1.22 trillion, which is over 55% of the entire figure.&nbsp;<a href="https://u.today/ethereums-gas-crisis-over-vitalik-buterin-presents-new-solution" rel="noopener noreferrer nofollow">Ethereum (ETH)</a> takes up just over $350 million, with the remaining $640 million and a bit distributed among all other altcoins.

$100 Trillion for Crypto Market? Raoul Pal Says Yes

U_Today

Outros artigos publicados em 14 de mai. de 2024

Binance Ends Support for XRP and TUSD

DYDX CEO Antonio Juliano Steps Down; Prompting Company Transition

Deribit Exchange Welcomes Paradigm’s into Linear Altcoin Options Trading

Worldcoin (WLD) Price Tanks 10% Amid Strong Whale Deposits to Binance

Tether Freezes 5.2M USDT Linked to Phishing Groups

Top 5 Real World Asset (RWA) Cryptocurrencies: What’s Driving Their Meteoric Rise?

Receba nossa newsletter para saber diariamente as novidades das criptomoedas!