The wider crypto space is quite rugged to comprehend. Whilst, some cryptocurrencies are extremely overvalued, and some are extensively undervalued despite owning strong fundamentals. Polkadot price which was almost doubled to hit an ATH of $55 prior to the parachain auctions is back to its initial level post the campaign launch.
Polkadot And Cardano Two Most Undervalued Assets Right Now!
DOT has come a long way just within a span of the year. At present, it appears that the crypto fraternity is not treating the Polkadot ecosystem as the distinctive development network it is. Rather, the price apts to follow the sentiment of the wider crypto market.
A popular crypto analyst from the crypto fraternity Sean Benson is confident of future prospects of Polkadot and Cardano. He acclaimed them as highly undervalued assets, which would see monumental growth in future days. Although Cardano has executed its core goal of the whitepaper Alonzo smart contracts upgrade on September 12th, it has urged the community to have sensible expectations in the beginning. As the platform is actively working to deploy DEXs, the next bull cycle is decisive for ADA price action.
On the other hand, Polkadot appears to be following the path of Cardano with no price action. The ecosystem has organized a parachain party on December 18th along with the first batch of parachain winners AcalaNetwork, MoonbeamNetwork, AstarNetwork, ParallelFi, and clover_finance. Although auctions are at their final stage of the launch, DOT prices remained sluggish.
Collectively, as the macro market outlook remains bullish. Protagonists across the market argue present dip is the buying opportunity. At present, the DOT price is trading at its decisive bottom around $24.91. However, as the market is expected to resume the upward move by early 2022, a parachain auction would then catalyze its price action.