Latest PostNews

This Is Why You Should Buy & Stake Polkadot and Kusama, Says Analyst

news-image
Highlights

    The altcoin keeps rising steadily, owing to its robust fundamentals and hence showcasing a huge tendency to hit higher highs

    Polkadot and Kusama combined have the highest developer activity amongst others and could be the leader in the blockchain space too

The platform has a lot to offer over its competitors, the amount of development and fundamentally strong ecosystem is resulting in the crypto gaining popularity among a sea of other platforms.  At press time Polkadot price is $36.73, and market cap dominance stands at 1.70%, the coin is much lower than its ATH of $49.35 despite the developments. This gives us a clear picture of the potential of the coin. 

Meanwhile, its canary coin Kusama price is $413.11, while achieving its 24-hour high of $437.77. Kusama (KSM) has successfully completed the first round of parachain auctions and is now on the second round. The first five parachains resulted in 10% of the supply getting bonded. And this is why popular analyst Lark Davis is pretty bullish on the Polkadot ecosystem.

Consequently, the more Kusama bonds, the lesser will be available, resulting in the shooting of prices. Moreover, bonding results in a price surge, plus the investor gets all of his or her KSM back. The star performer of the first round was moon river, most of the investors have received gains of over 20 to 100x.

Polkadot has been the biggest pre-launch chain in terms of developer commitment. DOT and KSM combined have more developer activity than anyone else, KSM holds number 2 in terms of developer activity.

The coin has outperformed some of the prominent players in the crypto space in the last month. The Moonbeam parachain has tokens built on Polkadot’s substrate development tool, the tokens transfer to Ethereum wallets and smart contract addresses could be with more ease. Data from Messari suggests that DOT remains the most commonly held liquid asset by hedge funds and venture capitals.

Summing up, the Polkadot ecosystem is growing consistently. The coin(s) is undervalued considering the development on board. Considering the underlining potential of the platform it wouldn’t be wrong to expect the DOT price to hit above $50. The coin will rise above its current market cap ranking of 8. Hence it could be the right time to buy & stake DOT or KSM.

Tags
Show More

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Related Articles

Back to top button
Close
Close