Why Is Arcblock’s ABT Surging? How Much Would $1000 Investment in the Token Be Worth at $1 Billion Market Cap?
Arcblock’s native token, ABT, has surged over 40% in the last 24 hours, significantly outpacing the wider crypto market. The blockchain project’s token now trades at $0.46 with a market capitalization of $45 million.
What’s behind this powerful breakout?
As crypto trader @MYC_Network points out enthusiastically on Twitter: “$ABT is surpassing #XRP. Maybe because Arcblock has true interoperability and worked with Hyperledger to bring a successful multi-chain protocol.”
Indeed, Arcblock brands itself as an innovative “blockchain 3.0” project focused on easing blockchain adoption for businesses and developers through its network services. And with momentum now accelerating for ABT, investors are taking notice.
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Show more +In particular, crypto newbie @CryptoN3wbi3 remains extremely bullish on ABT’s potential, despite having already surged 40% in a day. As he tweets: “No doubt, @ArcBlock_io stands out as the most undervalued #token in the market, boasting superior #blockchain v3.0 #technology.”
In fact, he runs some speculative numbers on ABT’s hypothetical growth. With Arcblock’s market cap currently sitting at just $45 million, @CryptoN3wbi3 suggests a $1000 investment bought 2940 ABT tokens could be worth over $29,000 if Arcblock reaches $1 billion in market cap.
While future prices are difficult to predict, it’s clear momentum and fundamentals are aligning for ABT in the near-term. With the token already breaking out, Arcblock looks set to continue outperforming the broader crypto market.
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