I recently watched a video discussing Velodrome's native token, VELO, and the potential price scenarios. It's really interesting because the speaker, "Lee the Captain," believes in Velodrome fundamentally as a decentralized exchange on Optimism, which is a popular Ethereum layer 2. He highlights how layer 2s are important for addressing Ethereum's scalability and high gas fees.
What I found particularly exciting is his comparison of Velodrome's current market cap, around $40 million, to its potential. He thinks a price of $1.50, which would put its market cap at $1.3 billion, isn't out of the question, especially if we see a strong altcoin season. He even brings up Uniswap's past market cap of over $20 billion as a benchmark for what's possible in the DeFi space, which is projected to be worth over $200 billion by 2030.
He also mentions the growing number of crypto owners globally, now over 600 million, which is double what it was during the 2021 bull run. This makes me optimistic that if an altcoin season does happen, it could be even bigger than before. While he doesn't give exact timelines, he emphasizes staying patient and dollar-cost averaging, which is a solid strategy in this volatile market.
https://www.youtube.com/watch?v=8yAjYcueNsE