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Multicoin Capital Predicts Significant Growth For Drift Protocol

11/09/2024 09:33

According to Foresight News, Multicoin Capital has released a research report on Drift Protocol, revealing that it has accumulated a substantial position in DRIFT through its various funds, including liquidity and venture capital funds, over the past few years. The report outlines a valuation framework and market assumptions, leading Multicoin Capital to predict a benchmark price of $3.58 for DRIFT, which is more than seven times its current price. Multicoin Capital believes that as users and liquidity continue to migrate to Drift and Solana, the Drift Protocol is poised for further growth. The firm’s optimistic outlook is based on the increasing adoption and integration of Drift within the broader Solana ecosystem, which is expected to drive significant value appreciation for the DRIFT token.

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