The head of the Spartan Black cryptocurrency fund, Calvin Koch, believes that in the near future DOT will take third place after BTC and ETH, and Polkadot will enter the TOP 3 blockchains.
According to CoinGecko, the Polkadot project is already ranked sixth in terms of market capitalization. Today, DOT is trading at $5,9 per coin, and its capitalization is more than $5,2 billion.
After placing the DOT on the Binance cryptocurrency exchange about a week ago, the price of this coin has risen by 101%. The head of Spartan Black believes that thanks to such rapid growth, Polkadot has every chance to break out of the top three most popular cryptocurrencies. Koch predicted the takeoff of the DOT rate back in mid-August, saying that the DOT would reach $5 per coin.
“If the market capitalization of Cardano is $3,8 billion, then for Polkadot this figure should be at least $5 billion. It turns out that 1 DOT will cost $5,” the head of the Asian fund Spartan Black said earlier.
Koh clarified that the Polkadot protocol will not compete directly with Ethereum due to differences in structure. In addition, the rapid scaling of Polkadot will prevent the problem of high transaction fees, as happens on the Ethereum network.
Koch named another factor that could be driving demand for DOT up. We are talking about the active work of developers on blockchain compatibility. According to PolkaProject, the Polkadot ecosystem is already in use in 197 projects.
As a reminder, the Polkadot mainnet was launched in May 2020, and a few months later, Polkadot developers announced the complete decentralization of the network and the removal of administrator rights from the Web3 Foundation.