Is Radix (XRD) The Next Solana Matic 30x Blockchain? Explained by Blockchain Developers
During the bear market, it’s always a good time to look for the next alpha coin, as most projects will focus on building instead of overly hyped marketing.
Radix (XRD) seems to be a silent builder here. Some said Radix could be the next Solana or Matic in the next cycle. Is it true? Let’s dive into it and find out!
Technology
Feedback from Blockchain Developers
When determining how much a blockchain is worth, it’s essential to know what the users want, in this case, the developers. The more the developers use the blockchain, the more worth the blockchain is.
So, is Radix good enough to have developers to build their projects with?
- Solid Developer’s Community. Radix has a passionate developers’ community. Defi protocols like DEXs have been built even the blockchain is not live yet.
- Easy to code with Radix. According to Ivan Liljeqvist from Ivan on Tech, a blockchain developer, Radix is easy to build with.
Market Capitalization Potential
As of 29 Dec 2022, Radix(XRD) is valued at around USD 348 million and is ranked 210 in the market.
Why does XRD have a potential 30x price rise?
XRD can rise from$0.034 to $1, almost 30x here. If XRD reaches $1, the total market capitalisation will be $9 billion, compared to other similar blockchains in December 2021, it’s a totally reachable target.
Cardano(ADA) had a total market cap of around USD 94 billion at its peak;
Solana(SOL) had a total market cap of around USD 75 billion at its peak;
Polygon(MATIC) had a total market cap of around USD 20 billion at its peak.
(Just a wild imagination, if XRD reaches ADA’s peak, USD 94 billion, that would be 300x, but remember, this is not just a dream with no proof!)
Liquidity Challenges
For a token to fly to the moooon, it requires fuel, which is liquidity. We need inflow capital to make an uptrend. However. Radix is facing a liquidity challenge. Challenges are not bad things, because if these are solved, Radix has great potential to spread its wings and is ready to fly!
Lack of exchanges listing
There’re only nine exchanges that have listed XRD. To name a few, they’re Bitfinex, Gate.io, AscendEX, etc.
Few exchange listings mean a lack of liquidity, which leads to little inflow of capital and price actions.
If they’re more big exchanges like Binance, and Coinbase listing XRD, the table will be turned.
New On-Ramp Possibility
A newly released coin might not need an exchange listing to acquire capital from investors. On-ramp is a possibility.
What is On-Ramp? It refers to the purchase process that investors directly obtain tokens from on-ramp service providers like MoonPay, Simplex with credit cards payment.
In simple words, you can directly get any tokens to your wallet like any other online purchase without exchanges (but it’s limited to small amount transactions only.)
Radix’s DEFI Craze
Like any other blockchain, Radix is expected to have Defi in Q2 and Q3 2023. Then, Radix’s stablecoins, USDC, USDT, or algorithm stable coins will follow.
Technical Analysis: Where Is A Good Entry Point?
As of 29 Dec 2022, the XRD token has been in a downtrend since June 2022 with the whole market. It tried to consolidate at around 0.055(the red line) but broke the support and reached 0.03(the green line).
Is it a good time for entry? It depends. No one can predict where the price will go, but a Dollar-Cost Averaging (DCA) is a good call here.
“Rome wasn’t built in a day is a good reminder” for all gem investors. Be patient! It takes time for good projects to develop, thrive, and eventually be recognised by the public.
Final Verdict
It’s hard to say if this is the project that you can’t miss, as no one has the crystal ball, but Radix is one of the projects that you should have put under your radar.
Disclaimer:
The article is for educational purposes only and has no intention of providing any financial advice. You are advised to consult professional financial advisors before making investment decisions and are liable for any financial decisions.
Some of the content is adapted from Ivan On Tech Youtube Video “THIS ALTCOIN CAN DO 30X (NOT CLICKBAIT) — Developer explains Radix Problems and Opportunities.”
