- Cryptocurrency analyst Alex Wacy predicts a parabolic rally for Centrifuge (CFG) amid the explosion of the tokenization industry.
- CFG price is currently close to $0.7 and could hit all-time highs during the alt season.
Cryptocurrency analyst and researcher Alex Wacy said Centrifuge (CFG) could go parabolic during the alt season and hit new all-time highs. CFG prices are up 13% in the past week and 40% in the past month.
Over the past two months, the value of the altcoin has overcome resistance around $0.70. Wacy sees $1.2 as the first major target for the bulls, with a vertical rally likely to push CFG past its all-time high of $2, which it reached in 2021.
Centrifuges and DeFi/Real Assets Story
Centrifugal Separator (CFG) is one of the best projects in Real Assets (RWA) sector. Launched in 2017, milestones achieved include MakerDAO’s first RWA issuance and on-chain securitization. In 2022, Centrifuge partnered with BlockTower to power on-chain finance for real-world assets.
The on-chain financial protocol team expects the total value locked to reach $1 billion by 2024, with growth helping to add $4 million in network fees to the Centrifuge Treasury. Revenues come from protocol fees and Centrifuge Prime, an infrastructure service that allows decentralized autonomous organizations (DAOs) to invest in real-world assets.
“A protocol fee is applied to Centrifuge to ensure the self-sustainability of the protocol,” the Centrifuge team said in a recently published blog post.
Centrifuge recently partnered with cryptocurrency platform Finoa to expand RWA investments for institutions. With these and other major developments, CFG prices are poised to explode.
“The charts look very clean and the industry leaders in the RWA sector are likely to attract significant attention, so the potential targets could be significant,” says Wacy. predicted.
Wacy sees $0.8 to $0.48 as a potential buy zone, with bullish targets for CFG prices above ATH being $5 and $7.