Blockchains, aka layer-1 protocols, power decentralized applications that can attract the masses. Successful blockchains have been known to provide great return on investments for early adopters. With the current market conditions, and upcoming crypto ETF approval, I’m expecting a few different layer-1 protocols to vastly outperform more established ones. I would argue that protocols that have yet to experience a bull run, and those who only had 1 cycle so far and benefit from a strong niche while being SEC compliant may very well significantly outperform their counterparts. I personally have my eyes on Injective, Kaspa, and BitTensor has very strong 4000%+ potential. Although it is not financial advice, if my prediction comes true, this would imply that a $25,000 investment would lead to becoming a freshly new millionaire.


Return on investments in decentralized applications (dApps) can be significantly magnified if the layer-1 protocol they are built upon is also growing significantly. In the previous bull run, we have seen trending protocols that have since then collapsed and have been forgotten. The market is littered with their corpses, which more often than not lead to their dApps to suffer an even worse fate. So, in this blog post, we will compare some of the most interesting protocols in terms of market potential.

Layer-1 Comparison

Even though Bitcoin does not have smart contract capabilities on the main chain, we can still use some of the market cap metrics as a baseline for our study.

Layer 1Market Cap in CirculationFully Diluted Market CapNo of Bull CycleFully Diluted Market Cap All Time HighNiche
BTC$824B$884B4$1.45T (-39%)Store of value
ETH$277B$277B3$587B (-54%)none
BNB$37B$37B2$105B (-65%)binance
SOL$31B$41B1$147B (-72%)speed
ADA$21B$27B2$140B (-80%)none
AVAX$15B$18B1$63B (-71%)gaming
DOT$9.2B$9.7B1$76B (-87%)Cross chains
ICP$4.7B$5.3B1$350B (-98%)Full stack run on-chain
ATOM$3.4B1$13B (-74%)Blockchain of blockchains
KAS$2.5B$2.5B0Bitcoin but faster
INJ$2.5B$3B1$3.4B (-14%)DeFi
TON$568M$11.2B1$27.4B (-59%)telegram

There are several bits of information I can observe from the table above: 1) the biggest chains tend to suffer less than the small chains in bear markets, 2) chains that have not been in a bull market yet do not have the baggage of older chains and are free to experience their full potential.

Chains that have been in multiple bull and bear market cycles sometimes have accumulated momentum and large market capitalization.

2025 Bull Market Prediction

Assuming the total capital flow in the market will be greater this bull cycle than previous bull cycle, then what can we expect in terms of potential growth for some of the chains above? I will assume that successful chains with at least 1 cycle, could grow to $200B, while chains that are on their first cycle into a $100B fully diluted market cap. I would argue that this is possible as long as the projects are SEC compliant to be traded on US exchanges without difficulties.

Assuming that both Bitcoin and Ethereum will reach an all time high again given their ETF status enabling them to attract pension plan funds and other large institutional investors capital. Let's assume Bitcoin may grow about $250K, which would imbue a fully diluted market cap of $5.2T (6X) by mid-2025. Over the years, Ethereum has gained market share over Bitcoin, so let’s assume that Ethereum will grow 8X this time around to $18K and a fully diluted market cap of $2.2T.

Then, let's assume that some of the successful chains with 1 cycle and with a strong niche will grow to an amount greater than the large cap chains of last cycle, for example $200B. Then Injective, and Toncoin would grow 50X, and 13X respectively.

Meanwhile, projects that are in their first bull market could possibly reach the $100B range, which would leave KAS (Kaspa) and TAO (BitTensor) growth 40X and 53X respectively.


Given the institutional investors moving into the crypto world for the first time, I expect the crypto market to grow significantly by mid-2025. While I wouldn’t be surprised if Bitcoin reached $250K (6X), and Ethereum $18K (8X), I am even more excited about a few projects that will experience their first and second bull cycle for returns greater than 40X!!! This would imply that a $25,000 investment in these projects could potentially lead to someone becoming a millionaire within a year and half. I believe that Injective, Kaspa, and BitTensor are all very strong contenders for massive growth this cycle given their specific narrative.

Please subscribe to my blog, as I plan on reviewing specific decentralized applications on these 3 protocols that could experience ever greater returns than their layer-1 counterparts. Meanwhile, more risk tolerant investors could use leverage to increase their return, which means even an investment of $2500 could be enough to become a millionaire.


Crypto Rookies is a crypto investor, serial entrepreneur in Artificial Intelligence and Web3/crypto with expertise in tokenomics and market making. Currently CEO of Smooth, which is a Market Making as a Service infrastructure designed to prevent economic collapse of crypto-currencies.

Meanwhile, please feel free to join the various communities I am involved in and do not hesitate to reach out.

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Also check out some of the early stage crypto assets that I’m actively using:

  1. GRVT, it’s a Decentralized zk-powered crypto exchange.
  2. MarginFi, it’s a peer-to-peer lending protocol on Solana.
  3. Drift, it’s a Decentralized crypto exchange on Solana.
  4. Swell, it’s a liquid staking protocol to use in conjunction with EigenLayer.
  5. Linea, a layer 2 protocol of Ethereum using ZK technology
  6. GetGrass, a DePIN project for shared internet bandwidth with an upcoming data labeling system