David Hoffman identifies PRL and QTC as Bitcoin clones

Bankless co-founder David Hoffman has highlighted a surge in the valuations of two altcoins, PRL and QTC, characterizing them as “2017 Bitcoin clones.” This trend is driven by a renewed investor interest in projects that utilize a limited supply narrative of 21 million tokens.

According to Hoffman, PRL has seen a weekly increase of 30%, bringing its fully diluted valuation (FDV) to $4.2 billion. Meanwhile, QTC has experienced a monthly gain of 300%, reaching an approximate valuation of $1.8 billion. Hoffman’s observations focus on the market narrative of scarcity rather than providing a technical assessment of the projects' security or specific use cases compared to Bitcoin.