Popular crypto analytics and market commentary show Coin Bureau has examined the potential of competing blockchains Polkadot ($DOT) and Cosmos ($ATOM).
Speaking in a recent YouTube update, Coin Bureau host “Guy” told viewers that he has big expectations for both Polkadot and Cosmos as blockchains built for scaling and cross-chain interoperability.
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Guy highlighted the demand being driven by Polkadot’s parachain feature. In particular, he singled out the project Acala, which recently announced a massive incentive fund for its decentralized finance (DeFi) platform based on DOT.
According to the host, Polkadot’s parachain slot auctions have had a beneficial effect on the demand for DOT.
As reported by The Daily Hodl, Guy said,
A convenient side effect of Polkadot’s parachain slot auctions is that almost 15% of DOT’s circulating supply has been locked for two years, and when you add that to DOT’s staked supply of around 55%, it means only around 30% of DOT’s supply is readily available for trading.
Guy predicted that $DOT’s price would find difficulty going higher than 3X its current level in the “short-to-medium term” due to its already massive market capitalization.
Coin Bureau’s host also predicted growth ahead for Cosmos, noting that its ecosystem had attracted projects which are not widely supported on centralized exchanges. He highlighted the cryptoasset’s medium-sized market capitalization, saying that it would take less money to drive up the price of $ATOM when compared to $DOT.
He also called a 3X price increase for $ATOM “realistic” in the short-to-medium term, assuming that retail interest in crypto resumes at its previous pace. In the event that Cosmos’s ecosystem continues to grow, Guy said a 5X price increase was a “possibility.”
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
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