Centrifuge (CFG) price ready for parabolic rally, top analyst says

  • Crypto analyst Alex Wacy predicts parabolic rally for Centrifuge (CFG) amid explosion in tokenization industry.
  • CFG price is near $0.7 today and could rally to a new all-time high amid an altseason.

Crypto analyst and researcher Alex Wacy says Centrifuge (CFG) could go parabolic and reach a new all-time high amid the altseason. The price of CFG is up 13% in the past week and 40% in the past month.

In the past two months, the altcoin’s value has bounced off resistance around the $0.70 area. Wacy sees the first main target for the bulls at $1.2, with vertical gains likely to push CFG past its all-time high above $2 reached in 2021.

Centrifuge and the DeFi/Real-World Assets narrative

Centrifuge (CFG) is one of the top projects in the real-world assets (RWAs) space. It launched in 2017 and milestones achieved include the minting of MakerDAO’s first RWA and onchain securitization. In 2022, Centrifuge partnered with BlockTower to bolster onchain financing of real-world assets.

The onchain finance protocol’s team projects a run to $1 billion in Total Value Locked in 2024, with growth helping add $4 million in network fees to the Centrifuge Treasury. The revenue will come from protocol fees and Centrifuge Prime, an infrastructure service that allows decentralized autonomous organizations (DAOs) to invest in real-world assets.

“Protocol fees are going live on Centrifuge in order to ensure self-sustainability of the protocol,” the Centrifuge team noted in a recently published blog post.

Centrifuge has also recently partnered with crypto platform Finoa to expand RWA investments for institutions. These and many other key developments have CFG price ready to explode.

“The chart looks exceptionally clean, and the potential targets could be substantial as industry leaders in the RWA sector are likely to attract significant attention,” Wacy predicted

Centrifuge price chart and prediction shared by crypto analyst Alex Wacy. Source: X

Wacy sees $0.8 – $0.48 as a potential buy zone, while his bull market targets for CFG price above the ATH are at $5 and $7.

Source link

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top