An analysis of the universe of leading cryptocurrencies published by Bloomberg, and compiled by analyst Sherwin Dowlat of the Satin Group, has just been released. And its conclusions will make for particularly interesting reading for followers of the Cardano project.

Adopting a multi-pronged approach to its analysis of the leading cryptocurrencies which serve either as stores of value or primarily as utility tokens, the report covers metrics such as economic velocity and implied velocity, and anticipates strong potential upsides for ADA over the longer-term provided certain conditions are met.

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At the same time, Dowlat outlines that his forecast for most utility tokens is not optimistic, even for those coins which experience reasonably successful adoption.

Dowlat also studies the upside potential of privacy currencies, specifically Monero and ZCash, performing a direct comparison of what are arguably the world’s two leading anonymity cryptocurrencies. The report concludes that markets for both these currencies will likely be driven first and foremost by illegal activity, although Dowlat also concludes that Monero will likely make for the bigger beneficiary of the two – “the Privacy market user base will most likely rely on networks that have more active codebase development,” he states – with XMR likely to capture 60% of the market with ZCH catching just under a third of that figure.

However, the report does work from a number of assumptions and is unclear as to why or how high velocity coins may still struggle to gain in value over the longer term. The author points out, however, that the views expressed are uniquely his own, and also comes to the conclusion that there is long-term upside for both BTC and ETH.