Bullish altcoin - DOT to moon
DOT ready to moon

Bullish altcoin - DOT to moon

By Cryptofab | Cointune | 10 Mar 2021


Polkadot is now the coin #4 in market cap... outpassing Cardano.

DOT is only 15% lower in market cap than BNB - the #3, which surged again this week as explained in my previous article. In the short term, BNB should remain higher than DOT in market cap due to the multiple DeFi Automated Money Makers on the Binance Smart Chain - e.g. Pancakeswap & Autofarm.

In the mid term, DOT could go higher than BNB in market cap and become the coin #3 after BTC and ETH for the following reasons:

  • Parachain projects like the one announced with Parity Technologies yesterday are quite promising and will pump DOT higher
  • Polkadot will also deploy DeFi applications and Automated Money Makers with low fees like Binance - but more decentralized
  • In the meantime, Polkadot offers staking rewards higher than 14% on its mainnet in a fully transparent and decentralized way

Furthermore, the staking on Polkadot is quite convient - if you took the time to read the articles published on this topic. There are only two constraints:

  • The amount to be staked has to be at least 200 DOT in order to get a chance to be accepted by the selected validators
  • The unbonding period is 28 days - which is good news for the token value since it urges the nominators to stake longer

As Polkadot was created by Gavin Wood, Ethereum cofounder, it is similar to what ETH 2.0 plans to be... except that it is fully available.

Regarding DOT value, we all know that ETH already had hit its All-Time-High in 2017 before collapsing and took nearly three years to get back to this ATH. Polkadot's advantage is that its All-Time-High was hit very recently, on February 20, at $42.25. Therefore, it is currently less than 9% below its ATH...

Next steps for Polkadot:

  • DOT will likely move towards $42 in the near future - if Daddy Bitcoin does not crash suddenly
  • Above $42, it will enter a price discovery zone, which could make it bullish due to FOMO effect
  • The next step will be $50 in the short term, and then $100 - it is not a financial advice, as usual

Click here to get more info on the coins in which I believe the most.

 

 

 

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Cryptofab
Cryptofab

I do not want to change the world, but I can contribute to it.


Cointune
Cointune

Crypto, DeFi and passive income.

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