Blockchain technology is continuously evolving, with new projects emerging to address various challenges and expand the capabilities of decentralized systems. Fully Diluted Valuation (FDV) is a metric for assessing the potential market value of these projects, representing the market cap if the maximum supply of tokens were in circulation.
Analyzing projects launched in 2024 by FDV is important for several reasons
- Firstly, FDV provides a comprehensive view of a project’s potential market value, assuming all tokens are in circulation, which helps investors assess long-term growth prospects.
- Secondly, understanding FDV helps in comparing new projects against established benchmarks, ensuring a more informed investment decision.
- Additionally, evaluating FDV alongside market cap and backing entities offers insights into the project’s current market position and future scalability.
- Consequently, such analysis is vital for identifying promising blockchain projects and making strategic investment choices.
Now we will analyze the data together to understand the crypto market better. But remember that we do not give financial advice. Don’t forget to do your own research!
StarkNet (STRK)
StarkNet, with a market cap of $890M and an FDV of $6.85B, is backed by prominent entities such as Paradigm and Dragonfly Capital, among others. Specifically, StarkNet focuses on enhancing Ethereum’s scalability through zero-knowledge rollups, which significantly reduce transaction costs and increase throughput.
zkSync (ZK)
With a market cap of $563M and an FDV of $3.22B, zkSync is backed by notable investors like a16z and Placeholder. Essentially, zkSync aims to bring scalable and low-cost transactions to Ethereum via zk-rollups, thereby contributing to faster and cheaper transactions on the network. Blast (BLAST)
Blast, holding a market cap of $391M and an FDV of $2.30B, is supported by key players including Spartan Group and Delphi Digital. In particular, Blast is designed to offer a high-speed, low-latency blockchain solution, particularly targeting the DeFi and NFT sectors. Moreover, fundraising through token sales has provided the capital necessary to build and launch this innovative platform.
Taiko (TAIKO)
Taiko, with a market cap of $130M and an FDV of $2.07B, includes investors like DeFiance Capital and Hashed among its backers. Notably, Taiko is dedicated to creating a decentralized protocol for interoperability between different blockchain networks.
ZetaChain (ZETA)
ZetaChain, supported by firms such as Electric Capital and Pantera Capital, has a market cap of $223M and an FDV of $1.70B. Essentially, ZetaChain aims to enhance cross-chain communication and asset transfers, thereby making it easier to move value across different blockchains.
Saga (SAGA)
Saga, with a market cap of $141M and an FDV of $1.50B, includes backers like Sequoia and Benchmark. Specifically, Saga focuses on bringing high scalability and security to blockchain networks, targeting enterprise applications.
Dymension (DYM)
Dymension, supported by investors such as Framework Ventures and Alameda Research, has a market cap of $273M and an FDV of $1.48B. Notably, Dymension is designed to enhance the speed and efficiency of decentralized applications, aiming for broad adoption in various sectors.
Omni Network (OMNI)
Omni Network, with a market cap of $140M and an FDV of $1.35B, is supported by a diverse group of investors, including Three Arrows Capital and Polychain. Essentially, Omni Network focuses on providing a robust and scalable infrastructure for building decentralized applications.
Venom (VENOM)
Venom, with a market cap of $257M and an FDV of $1.11B, aims to provide high security and low latency for decentralized finance (DeFi) applications, thereby enhancing the overall user experience.
Manta Network (MANTA)
Manta Network, with a market cap of $332M and an FDV of $1.02B, is supported by entities such as Binance Labs and Polychain. Specifically, Manta Network focuses on privacy-preserving decentralized finance, ensuring secure and private transactions on its platform.
Conclusion
The launch of these innovative blockchains in 2024 demonstrates the continuous growth and diversification within the crypto ecosystem. By examining their market cap and FDV, we gain valuable insights into their potential impact and scalability. These projects, backed by some of the most influential investors in the industry, represent the forefront of blockchain technology, each contributing unique solutions to the challenges of scalability, interoperability, and security. Crypto fundraising has played a pivotal role in supporting these projects, providing the necessary capital for research, development, and expansion. As these blockchains mature, their influence on the broader crypto market is expected to grow, offering new opportunities and advancements in decentralized technologies.
