100X Gain for This Coin After Blockchain Launch? Analyst Believes It Outclasses ADA and DOGE
In a recent thread of tweets, prominent cryptocurrency advocate Chill | TheResponsibleDΞGΞN expressed deep confidence in Router Protocol’s ($ROUTE) future performance. The self-proclaimed DΞGΞN’s optimism comes as $ROUTE prepares to launch its proprietary blockchain, which he believes could radically transform the DeFi landscape.
Chill cites Metcalfe’s Law, USD devaluation, valuation, and supply as the four core reasons behind his bullish stance on $ROUTE. The law, named after Robert Metcalfe, proposes that the value of a network correlates with the square of the number of its users. As Router Protocol plans to serve various stakeholders, including developers, retailers, wallet providers, and businesses, the potential for exponential growth, according to Chill, is vast.
He argues that as the U.S. Federal Reserve continues to print money in the wake of Covid-19, the resultant devaluation will see the price of scarce assets, like cryptocurrencies, surge exponentially. Given that $ROUTE will soon have its own blockchain, this could potentially drive the price up significantly.
Chill takes a comparative approach for his third point, asserting that $ROUTE’s value outweighs that of $DOGE and $ADA, even in a bear market. His faith in Router Protocol is so strong that he believes a market cap of $5-10B isn’t far-fetched for a Layer-1 (L1) solution connecting the entire blockchain space.
He further alluded to Router Protocol’s limited supply of 20 million tokens and the increasing demand as more businesses make use of its technology. This, he argues, would outweigh supply and potentially catapult $ROUTE’s price upwards.
Answering a query about the utility of the $ROUTE token, Chill clarified that $ROUTE connects all chains and each chain uses its token for gas. $ROUTE will enable unified gas payments, offering users a cheaper fee and a revenue share component.
Router Protocol’s Performance and Predictions
Router Protocol, currently priced at $3.70 per ROUTE/USD, has experienced a significant decrease from its all-time high of $19.08 recorded over a year ago. However, the past week has seen a price increase of 23.17%, indicating possible positive momentum.
Price predictions vary, with one forecast suggesting an increase to $3.75 by July 19, 2023, and another predicting a rise to $4.33 by July 16, 2023. Despite the 80.55% decrease from its all-time high, these short-term predictions and the bullish stance from influencers like Chill could potentially signal a brighter future for Router Protocol and its holders.
