- Earlier this week, Kusama coined a limited edition “Kusama Parachain Launch Collection” NFTs and sent them to the network’s newsletter subscribers.
- Analysts remain optimistic about Polkadot in the long term and expect the introduction of Parachains to rally to a new all-time high.
- In the past month, Polkadot and Kusama combined “Dotsama” had more development activity than any other blockchain project.
Polkadot (DOT) and Kusama (KSM) became the top winners last month. Despite the recent consolidation, the analysts at “Dotsama” are optimistic.
Polkadot is likely to make a comeback
The multi-blockchain protocol, which focuses on creating cross-chain bridges, is making strides in its ecosystem development. After the successful completion of the first Parachain auction on Kusama, the blockchain protocol is now in the second round.
The first five paracets resulted in 10% of the KSM supply being tied up (withdrawn from circulation). Historically, scarcity drives up asset prices. Therefore, increasing the percentage of KSM supply that is tied is directly correlated to the KSM price.
Interestingly, the Polkadot ecosystem has attracted less attention from the crypto community as projects on the Binance Smart Chain, Polygon, Terra and Solana are live and have attracted traders.
Although the community is still waiting for an announcement for the launch of Parachains, Polkadot has nurtured a community of developers creating projects with strong use cases for DOT. The ecosystem is favorable to massive growth and it is ready for use.
Lark Davis, cryptocurrency analyst and YouTube content creator, recently visited Twitter to share his optimistic outlook on DOT.
Interestingly, according to a report by the crypto research and data platform Messari (as of July 2021), Polkadot is one of the most commonly held liquid assets (excluding Bitcoin and Ethereum) in the crypto venture and hedge fund portfolios.
The most commonly held crypto assets in all institutions.
Institutional interest is expected to skyrocket with the announcement of the launch of Parachain.
In the case of Kusama, the asset is jumping on new trends. Earlier this week, the team released a limited edition NFT collection that minted 9,999 NFTs for the “Kusama Parachain Launch Collection”.
The NFTs were distributed to the project’s newsletter subscribers.
Overall, the updates to the project’s ecosystem over the past two months have kept analysts optimistic about the DOT price. “Dotsama” is known as a “money maker” because of its upside potential.
Lark Davis says
Even if you had bought the top at KSM, you would have risen 10 times at $ mvr, most of those who supported it have risen 20 to 100 times or more. And the real kicker at Parachain auctions…. You will get your KSM back at the end! This is solid evidence that Dotsama is a money maker.
FXStreet analysts expect DOT price to rise 40%, although the altcoin is currently facing strong resistance.