Which is the next double currency is hopeful to enter with a light position.
1. Link, as a leader in the oracle space, has already achieved two to three times growth, yet I firmly believe it has limitless potential. As mentioned in previous episodes, this project serves as a bridge between the real world and the blockchain realm, which I would call 'three pies.' Its significance is not limited to the DeFi space; in fact, it has extensive applications in many areas, including real-world NFTs, insurance, the second-hand car market, the Internet of Things, and more. Therefore, the value of innovation can be considered five-star. In terms of market size, its scale is closely related to the DeFi sector, with a current market cap of $8 billion, while its peak market cap in the last bull market was $16 billion. Notably, 40% of the tokens are still pending unlock. Even considering the approximately 7% of tokens released each year after the peak of the last bull market, this impact can essentially be ignored. Therefore, it is reasonable to expect that in the next bull market, its market cap could increase tenfold, reaching a scale of $60-80 billion. Thus, even at the current scale, there is still a tenfold growth potential.
2. UNI
As the leader of decentralized exchanges (DEX), although the team caused some dissatisfaction among large holders with some recent decisions, this does not negate the fact that it remains one of the largest and most practical DEXs. The current total value locked (TVL) has reached $3.7 billion, an unattainable leading position, especially with the upcoming V4 version that will further enhance user experience. Its innovation index score is also perfect, and it has performed excellently in terms of market cap scale in the financial sector. The current market cap is $2.8 billion, with a peak of $3.66 billion in the last bull market. Currently, 42% of the tokens are still locked, with an annual release of 2%. Even considering the peak of the last bull market, there is still nearly 13 times growth potential. The estimated range for the current bull market is $60-80 billion, so there is at least 25 times growth potential.
3. ARB, OP
Looking at ARB and OP together, they actually have very similar characteristics, both being top performers in the Ethereum OP series Layer 2. We will mainly focus on the data performance of ARB (the same applies to OP). Currently, ARB's on-chain total value locked (TVL) is $2.1 billion, which is impressive. To better understand, we can compare it with the high-performance public chain SOL, which was highly regarded in the last bull market (recently also achieving double growth, with a TVL of $600 million), as well as Binance Smart Chain (TVL of $2.9 billion). Surprisingly, ARB's TVL is not much different from Binance and even exceeds SOL's by three times. Now, if you think these two are old chains, let's look at the emerging chain SUI's TVL, which is $130 million. Then we check another Layer 2 project supported by Bybit, Mantle, whose TVL is only $75 million, which is ruthlessly surpassed. Currently, 80% of ARB tokens are still locked, and it is heard that there will be a large unlock in the next bull market, with an expected 60% of tokens unlocked. The current market cap is $1.3 billion, and after unlocking three times, it can reach $3.9 billion. In the next bull market, it is expected that its market cap will reach around $50-60 billion, so there is still 15 times growth space.
4. AAVE
As a leader in the DeFi lending space, AAVE is undoubtedly one of the most notable DeFi projects on Ethereum, being the frontrunner in the lending field. The current total value locked (TVL) has reached $5.8 billion. From the data, Ethereum's TVL is currently $26 billion, so AAVE accounts for 22% of that. In previous episodes, we mentioned that the protocol can generate approximately $30-50 million annually, and this figure could be higher in a bull market. In the last bull market, AAVE's peak market cap reached $24 billion, while the current market cap is only $1.4 billion. Therefore, even if it rises to the peak of the last bull market, there is still 17 times growth potential. In the next bull market, it is estimated that the market cap could reach at least $30-40 billion, suggesting a bullish estimate of about 28 times growth potential.
5. SNX
As a leader in the synthetic asset space within DeFi, SNX has also been featured in our hundredfold series. Its potential is limitless, and the industry it is in is full of possibilities. SNX can synthesize any real-world asset into on-chain assets, significantly promoting the development of the blockchain finance industry. It has already achieved three times growth, indicating that many wise funds have flowed in. The current market cap is $900 million, and it is mostly unlocked, with no inflation issues, as others collateralizing assets will synthesize SNX. Of course, there are some zero-sum game elements in the current SNX mechanism; the estimated market cap for this project should at least reach $20-30 billion, indicating a remaining growth potential of 30 times.
6. RNDR, as a leader in the decentralized cloud rendering space, is also one of our hundredfold series. In March, we introduced it at a price of around $1.3, and now it has risen to $3.3. The market potential of the industry is immense, with predictions estimating the market size will reach $30 billion by 2025. The fundamentals of the project are also performing well, supported by powerful investment institutions, all leading film production companies in the industry. The token model's integration is also unmatched. The current market cap is $1.2 billion, with 40% of tokens still pending unlock, and the annual unlock rate is about 10%. For this project in the next bull market, it is estimated to reach at least $10-20 billion, indicating around 15 times growth potential.
7. STX
As a leader in Bitcoin Layer 2, the STX project has actually been quietly developing for nearly 10 years, focusing on deepening the Bitcoin Layer 2 field. It has recently attracted wide attention due to the rise of Bitcoin. This also means that this project has remained active over the past 10 years, indicating that its team is determined to continue driving the project forward, rather than just quickly exiting after raising funds. With the heat of Bitcoin in the next bull market, STX will undoubtedly receive more attention. The current market cap is $860 million, with 20% of tokens still locked. Assuming Ethereum's Layer 2 could reach a market cap of $50 billion, why can't Bitcoin's Layer 2? Therefore, based on current estimates, STX also has at least 50 times growth potential.
8. AAVE
As a leader in the DeFi lending space, AAVE is undoubtedly one of the most notable DeFi projects on Ethereum, being the frontrunner in the lending field. The current total value locked (TVL) has reached $5.8 billion. From the data, Ethereum's TVL is currently $26 billion, so AAVE accounts for 22% of that. In previous episodes, we mentioned that the protocol can generate approximately $30-50 million annually, and this figure could be higher in a bull market. In the last bull market, AAVE's peak market cap reached $24 billion, while the current market cap is only $1.4 billion. Therefore, even if it rises to the peak of the last bull market, there is still 17 times growth potential. In the next bull market, it is estimated that the market cap could reach at least $30-40 billion, suggesting a bullish estimate of about 28 times growth potential.