DeepOnion - An anonymous Cryptocurrency launched July 2017 has taken the market by storm in recent days, prompting people to ask: "What is DeepOnion and why should I buy some?
Let me first begin by saying whenever you see a Crypto go 800% in a month it certainly draws your attention, it also makes you question whether or not you've missed the boat and whether it is a good time to enter.
In this case it is still a very good time to buy, I will explain why:
DeepOnion is still very young and is still in early stages, most of it's competition is years old and already have an established market. As of writing it's Market cap is just over $16 Million dollars with 4 Million coins in circulation (25 Million is total supply).
So how does that compare to some of the bigger players? Let's have a look:
DeepOnion current Market Cap = $16,000,000
Monero Market Cap = $4,500,000,000
Dash Market Cap = $5,600,000,000
Bitcoin Market Cap = $217,000,000,000
That is right, currently DeepOnion has 0.3% of Monero's market cap! What does that mean for investors?
DeepOnion could rise in value by 10,000% and still only be 30% of Monero's current value.
Now your probably saying: "It took a year for Monero to reach that number" or "Why would DeepOnion reach a third of Monero's market cap".
Firstly, it did indeed take Monero more than a year to reach that level, but Crypto has changed since then and there is a lot more money being injected into it, and a much larger user base. It also only took a few days for Monero to go from $2 Billion to $4 Billion Market Cap. This shows just how quickly things change.
Secondly, DeepOnion is very similar to Monero in terms of goals and audience, except DeepOnion has proven to be much better at penetrating the community and gaining exposure, quickly. In months DeepOnion has created one the largest threads on Bitcointalk, and has established what I believe to be the most active and popular forum dedicated to an altcoin. Furthermore, the technology is designed to accommodate a wider audience whilst still setting itself to be the most anonymous and untraceable cryptocurrency.
That brings us back to "Why is now a good time to invest in DeepOnion".
I believe the ball has began rolling, this is the hardest to achieve in a early cryptocurrency. There are coins that spend years before finally getting mass adoption, many don't even make it that far.
If you invest now you can expect returns almost immediately, the next 12 months are going to be big and anything is possible.
You can certainly expect that by July next year DeepOnion will be a major coin in every investors portfolio, but by then you've probably missed the big gains. 1000% is not unlikely, I certainly believe DeepOnion is possible of a $1 Billion market cap over the next 12 months, about $45 per coin. Knowing Monero's current market cap, and likely growth in the Crypto market, I believe it can then continue to grow further over 24 months and reach $10,000,000,000.
Remember DeepOnion is an anonymous coin, designed to be untraceable. There are so many markets which this appeals to, even Mum and Dad investors as it allows them to keep savings away from governments, tax agencies and even family members. Every coin over the next few years will try to become anonymous/untraceable, but by then DeepOnion will have already established it's position as a top 3 Anonymous coin.
Current price: $4.20
Potential price: $100+
DeepOnion price to meet Monero current Market Cap $225