As we stare down the barrel of a burgeoning new bull market, we all have been asking ourselves the same question: how much higher can these market caps go?
While we sit and pray that another 10x is on the way, the fact is there is already $2T in the global cryptocurrency market cap and, while a lot of that is propped up by tokens with bad liquidity-to-value ratios meaning that there is less actual money in the market than that implies, we still have to prop up value another $18T to reach that goal.
With a 900% increase in global cryptocurrency adoption so far this year, meaning that a tick under 20% of people in the world own a cryptocurrency, that still leaves 80% of the world unintroduced in decentralized banking. This is a hefty percentage, but simply assuming the rest of the world buys cryptocurrency at the same rate would only imply a 5x gain.
At this juncture, for us to add on the level of value needed for a 10x, we need more than just the rest of the global population catching up to crypto and adding it on at current levels of interest.
We need big money, big governments, and passionate buy-in to really start the new frenzy.
Yes, we know that there is seemingly endless wealth in the US and Chinese markets. From the birth of BTC, their activity has been both the shining beacon of progress and the death knell of regulation for decentralized currencies.
But there is another continent brimming with 12x growth in adoption this past year as well as with $100B in cryptocurrency capital flowing in.
One that desperately needs cryptocurrency unlike any other modernized region, and has seemingly gone all in to buy the dip and catch up with the rest of the global economy.
That’s right, even Forbes knows, Africa is going to be an absolutely major player in the upcoming cryptocurrency pump, and those of you who pick this trend up will be the next group of adopters we look back on as clairvoyant.
With grassroots adoption 33% higher than global average, P2P transactions the highest globally in terms of rate usage, Africa has set the stage to be early to the burgeoning reality of future finance.
Why is this the case? Because local currencies are volatile, banking institutions hold less power, and Africa has long faced a crisis of the unbanked.
Innovation isn’t just a desire, it’s a necessity out there, which is why you should expect human ingenuity under dire circumstances to create the conditions necessary for this massive pump in African cryptocurrency usage to continue.
With this, I’d look for major assets that are investing into this new wave as well as newer assets with good backing entering the space. ADA has lagged behind in recent months, but their strategy of investing into Africa already paid major dividends earlier in the year and I imagine they will continue to expand those operations when they’re finished dealing with their developmental issues.
Afrostar is a new cryptocurrency launching tomorrow, led by CEO Darren Winters who has serious investment backing already raising $500,000 for marketing and development! Leading a cadre of big money players and a six-digit following, the Afrostar team is looking to create financial infrastructure to support the 1.2B population of Africa.
If Afrostar represents the first step in bringing an exchange built for Africans, who circumstantially rely heavily on P2P transactions, watch out. That could be a major catalyst for the evolving cryptocurrency market in the continent, which would be a major slice of this cake to Winters and his investors.
If this all seems to be too far fetched for you, I can understand that. Previous biases are what’s preventing most people from buying into this movement. But understand that when most people are zigging, it’s a good time to zag. Being early here could be the next big win that no one is talking about.
It’s only up to you whether that juice is worth the squeeze.