News

DOT to Outperform ETH Capturing its Big Portion of Market Capitalization

Dot Price to hit $10 by Year-End

The DOT price which rallied from $3.98 to the present levels in just a fortnight, is expected to fly high towards the strong resistance formed at $5.5. After attaining $5.5 successfully, The DOT price may head towards $10 by the end of 2020.

The DOT price has broken apart from the parallel channel in the past couple of hours to rally above $5 in a very short time. At the press time, DOT price stands at $5.32 with a gain of 1.19 percent in the last 24 hours and nearly 21.25 percent. 

However, some analyst predicts DOT price may hit as high as $50 in the coming days or might go as high as $100 if the market mood is in the right momentum. The price showing the first signs of a potential reversal, forming a nice round consolidation moving above the lower range.

Will DOT outpower ETH and Showcase its Potential

Polkadot blockchain is gaining much momentum within the crypto space as it is anticipated to perform better than the more popular Ethereum blockchain. Right after the inception of the mainnet in July 2020, Polkadot is looked upon a replacement of the ETH blockchain.

One of the popular crypto analyst and blockchain & DeFi investor has predicted the DOT ecosystem will outperform the ETH platform in the coming days. Moreover, the upgrades like providing insurance options may be an added advantage for the platform. 

 Collectively, after a few failed attempts, $DOT is finally curling with increasing volume currently. On the contrary, ETH price is also reclaiming its 2yr old position. The DOT market cap is nearly $4 billion and ETH’s is more than $58 billion. Therefore DOT has a pretty long way to go.

Overall, ETH can be considered as one of the safest altcoin investment. But it would be pointless to not have exposure with DOT, as it requires more than 10X to reach ETH’s market cap. 

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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