💎 Hidden Gem Alert: $PSP Token's Growth Potential
In this analysis, the main objective is to uncover hidden gems within the cryptocurrency space. Specifically, the focus is on identifying tokens that are currently undervalued but have great potential for the upcoming cycle.
One potential gem that I have selected for future consideration in the crypto market is the $PSP token. $PSP serves as the native token of Paraswap.
Paraswap is a decentralized exchange aggregator that aims to provide the best prices across multiple decentralized exchanges (DEXs) on the Ethereum blockchain and other EVM-compatible blockchains such as Uniswap and Sushiswap.
To evaluate the potential of $PSP, I conducted a thorough analysis of its current status and future plans.
Additionally, I conducted an examination of the token allocation and unlocking mechanisms of $PSP. Furthermore, I compared the characteristics of $PSP with other similar tokens such as Uni and Sushi to gain a comprehensive understanding of its position in the market.



Add text here. Markdown formatting is supported.


Following the DYDX platform, Paraswap also conducted an airdrop of their tokens to their users. The launch of Paraswap coincided with a favorable market condition; however, as predicted, the price of $PSP token quickly dropped after the airdrop. Unfortunately, due to the market downturn at the beginning of January, Paraswap had limited opportunities for growth.
As of now, the current market capitalization of $PSP is approximately 19 million US dollars, whereas other similar platforms have market capitalizations exceeding 100 million US dollars. Based on its current low market cap, there is potential for $PSP to grow at least 10 times its current value. Moreover, Paraswap has attracted investment from over 30 DeFi investors. It is important to note, however, that low-cap tokens carry a higher level of risk, and not all tokens achieve success.

Let's begin by examining the price of $PSP since its launch and compare it to the top two tokens in the crypto market, namely BTC and ETH. As observed, PSP initially started at a price of 1.5 US dollars in November 2021. Since then, it has experienced a significant drop of approximately 97% in value, whereas ETH and BTC have faced a comparatively lower decline of around 60% in their prices.
The airdrop and market conditions have contributed to a more substantial drop in the price of $PSP compared to other tokens. Currently, $PSP is trading at around 0.03 US dollars with low trading volume. However, with a potential trigger such as a favorable market condition or attracting larger investors (whales), there is a possibility of a rapid increase in the price of $PSP.
It is worth noting that $PSP has not yet experienced a bull run, and there is a possibility that its price could increase significantly during the next bull run in the market.
The image below illustrates the Paraswap Supply Schedule and the allocation of tokens. According to the schedule, the token supply will reach 2 billion by November 2025. As of now, approximately 30% of the PSP tokens have been distributed, and the unlocking of tokens will continue until November 2025.
With the current market capitalization standing at 19 million US dollars, it is important to note that the fully diluted market cap, based on the current price, would be 67 million US dollars. This indicates the potential for market capitalization growth if the price of PSP were to increase.