David Hoffman, a co-founder of Bankless, shared insights today regarding the significant rise in the values of PRL and QTC. He referred to these projects as examples reminiscent of the “Bitcoin clones” from 2017, signaling a renewed interest in the market.
According to Hoffman, PRL has experienced a weekly growth of 30%, achieving a fully diluted market cap of $4.2 billion. Meanwhile, QTC saw a staggering 300% rise over the past month, bringing its valuation to around $1.8 billion, calculated based on a total supply of 21 million tokens.
Hoffman focused on the trend of tokens with a limited supply of 21 million attaining billion-dollar valuations once more. However, he did not provide a technical evaluation regarding whether these projects offer the same level of security or applications as Bitcoin.