$NTRN is being recognized as a strategic investment in the Cosmos and Celestia ecosystems. It's gaining attention due to its notable support and development:
- The Lido ($LDO) team is a key player behind $NTRN.
- It has solid backing from prominent investors, including Binance Labs, CoinFund, Delphi Ventures, LongHash Ventures, Semantic Ventures, and Nomad Capital.
This project stands out for several reasons:
- It functions as a settlement layer for @CelestiaOrg / $TIA roll-ups.
- It addresses the user experience challenges in Cosmos by introducing cross-chain smart contracts. This allows users to interact with decentralized applications across different blockchains without needing to transfer assets. It supports cross-chain activities like liquid staking, swaps, and money markets.
- Unique in offering replicated security, $NTRN leverages the $ATOM capital base to enhance network security, positioning it as safer than many other chains.
- It boasts interoperability with multiple platforms, including Ethereum, Layer 2 solutions, Cosmos, and Celestia, aiming to be a central hub for on-chain activity and liquidity within the Cosmos ecosystem.
Furthermore, $NTRN's economic model is attractive:
- There's no inflation in its model.
- It has deflationary tokenomics, with 75% of fees being burned.
- The token has a hard cap of 1 billion $NTRN, with no unlocks scheduled until June 2024.
In terms of market valuation, $NTRN, with a circulating market cap of around $350M and a fully diluted valuation of $1B, appears undervalued, especially when compared to:
- $TIA with a $2.3B circulating market cap and a $16B fully diluted valuation.
- $ATOM at a $4B circulating market cap and a $4B fully diluted valuation.
- $SEI with a $1.8B circulating market cap and a $7B fully diluted valuation.
- $INJ at a $3B circulating market cap and a $3.6B fully diluted valuation.
Given these comparisons, there's an expectation for $NTRN to potentially reach around $5 per token, translating to approximately a $1.5B circulating market cap.
