The next big thing in the world of cryptocurrencies is utility coins, according to one veteran analyst.
In a Twitter post earlier this week, Toray Kortan pointed out how these coins could be about to pump.
And their prediction seems spot on: Best Wallet (BEST), a fast-growing crypto wallet project, has raised over $2 million during its ICO.
Top Analyst Says Utility Coins Will Dominate Crypto Market
Kortan, known for his precise market calls and Twitter following of more than 59,000 people, says big changes are underway in the cryptocurrency market.
your publication Monday caught everyone’s attention while speculating that utility coins are the next niche to watch.
“If cryptocurrencies are integrated into society, society will need to derive value from utility,” Kortan wrote, hinting that the days of pure speculation could be ending.
And he is right.
There’s a world of difference between a token that simply sits in your wallet and one that powers real-world services, like cross-border payments or digital identity management.
If things are really progressing in the direction everyone (and Trump) says they are…
You might want to put the utility back on your radar.
If cryptocurrencies are integrated into society, society will need to derive value from the utility.
You’re seeing a sample of this now.
– T (@TorayCortan) December 2, 2024
Kortan, who also runs a popular crypto education platform, says this shift is already happening.
Their ideas overlap with the growing buzz around coins with real use cases, like running DEXs or managing smart contracts.
Additionally, with Donald Trump soon coming to office, Kortan believes these coins could be poised to connect crypto innovation to everyday life.
Utility Tokens Already Rally as XRP and BNB Post Gains
It appears that Kortan’s call for utility currencies is already developing.
The sector has been booming lately, and several utility-focused cryptocurrencies have posted huge gains.
XRP is leading the way, reaching its highest ever market capitalization yesterday and reaching price levels we haven’t seen since January 2018.
But it’s not just about XRP.
Other utility coins, such as HBAR and IOTA, are also making big moves.
What really stood out in the last 24 hours was BNB, which shot up 20% to reach $785.
BNB has landed on CoinMarketCap top five winnersand its trading volumes increased by a whopping 149%.
This change marks a significant change from when meme coins dominated the list of top gainers a month ago.
Now, tokens with practical use cases are getting all the attention.
And with Trump reportedly considering a crypto-friendly SEC chair, the utility token niche could be about to rebound even further.
So the difference is clear: while meme coins had their moment, the market seems to be maturing towards coins that actually do something.
Web3 Project Best Wallet Emerges as the Next Big Utility Coin and Raises $2 Million in ICO Phase
Although established utility coins are taking action, smaller cap projects could see even bigger gains as the market shifts.
Since XRP and BNB already have huge market caps, these smaller projects have much more room to grow.
One that is drawing attention in this regard is Best wallet.
The Best Wallet ICO has already raised over $2 million, and investors can purchase the native BEST token for just $0.022925.
More than $2 million raised in the $BEST Pre-sale!
This is a big milestone for the Best Wallet family, and we’re just getting started!
With stage 17 ending soon, now is the time to join the pre-sale and secure your spot!
Download now pic.twitter.com/Ot2uGQknJ5
– Best Wallet (@BestWalletHQ) December 3, 2024
It’s easy to see why investors are jumping in: BEST token holders get a host of benefits beyond what most utility coins offer.
Think reduced fees across the Best Wallet ecosystem and early access to new cryptocurrency releases.
BEST holders can even bet your chips for APYs greater than 1,700%.
What also sets Best Wallet apart is its all-in-one approach.
It’s not just another MetaMask clone – it offers a full set of services, including its own DEX that aggregates other exchanges for the best exchange rates.
Is @BestWalletHQ The deal of your life? Maybe… just maybe!
BEST WALLET – Presale pic.twitter.com/qFK2oCt8hd
-Austin Hilton (@austinahilton) November 30, 2024
The Best Wallet team is also developing a crypto debit card for real-world spending.
Additionally, since the wallet supports over 60 different blockchains, it is easy for users to manage their entire wallet in one place.
Cryptographic analyst Austin Hilton He said investing in the BEST token could be the “deal of a lifetime.”
So, with utility coins heating up and the Best Wallet ICO hitting key milestones, early investors could be jumping in at just the right time.
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