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Since Polkadot’s main net launch in May 2020, its core relay chain has been live for almost a year now – while the highly anticipated parachains have not become a reality yet.
However, in recent months, there has been no lack of attention and anticipation surrounding the Polkadot ecosystem, as the project – brought to life by Ethereum Co-founder Gavin Wood – has promised nothing less than to deliver the most robust and scalable layer 1 protocol.
What catapulted Polkadot so far ahead of its competition and attracted hundreds of developers and projects is the project’s innovative and collaborative approach, with cross-chain interoperability at the core of Polkadot’s vision.
Not having the ambition to be an “Ethereum killer” and at the same time delivering top-notch technology has allowed Polkadot to leapfrog old layer 1 protocols like EOS, NEO, or Tron, before even being fully operational.
Explosive Growth of the Polkadot Ecosystem
With the anticipation of Polkadot’s tech going live soon – lightening the load on the Ethereum network and allowing DeFi to go full throttle – we have seen explosive growth in the Polkadot ecosystem:
Not just DOT itself but also its “wild cousin” Kusama and the many emerging Polkadot projects have gained a lot of traction and seen impressive price rallies.
DOT has climbed from a $5 billion market cap to over $40 billion this year alone, now consolidating healthily in the $30 to 40$ billion market cap range. With Ethereum, Solana, and Co. having stolen the show in the last weeks, it seems just a matter of time before DOT starts its next run.
What’s Next for Polkadot and Kusama
We have seen that the Polkadot ecosystem has already seen massive growth. But all of these price rises have occurred before Polkadot and Kusama have even become fully functional – so what can we expect going forward?
While Polkadot’s and Kusama’s relay chains are already running and many Polkadot projects have come to market by launching their MVPs on Ethereum, everyone is now eagerly waiting for Kusama and Polkadot to enter the next stage. The critical piece missing are the highly anticipated parachain auctions.
The launch of parachains will most likely transform the current blockchain and DeFi landscape, as the whole Polkadot ecosystem with dozens of projects on standby gets turned on.
The Hottest Polkadot Projects
After seeing that parachain auctions are imminent and that they could spark further explosive price growth for both DOT and Kusama, let’s focus on emerging Polkadot projects, which are set to enter the spotlight again soon.
Projects building on Polkadot have already made quite some waves in recent months, with several impressive “Polkadot seasons” in last winter and spring. But true FOMO will kick in when these projects can finally roll out their protocols on Polkadot and Kusama after parachains have gone live. Therefore, it is an excellent time to focus on these high-potential Polkadot projects now before they draw attention from the masses.
With institutional interest in DOT and demand due to the upcoming parachain auctions rising, both DOT and Kusama are set to head into a very hot summer.
Looking at the prices of DOT and Kusama, both show healthy consolidation patterns, possibly setting up for further price runs. All, of course, depends on a smooth occurrence of the hotly anticipated parachain auctions and a subsequent “activation” of the Polkadot ecosystem.
If things go well, it will mark the beginning of a new era of blockchain technology, with adoption set to kick in heavily over the following months and years.
The big beneficiaries will be those who were able to identify high potential projects launching on Polkadot and Kusama – such as ACA, Karura, or Phala – early on and profit from their growth going forwards.
1:00 Polkadot overview
2:00 NOT an ETH killer
3:00 Nothing live yet = big opportunity
3:40 Parachain Visual
4:50 Expert Breakdown of Crowdloans
9:00 Why Crowdloans are more ethical
9:45 A big step forward
10:40 Price Analysis
11:24 First movers on DOT
14:16 This ecosystem is going to blast off
#Crypto #Bitcoin #Ethereum
DISCLAIMER: This is not financial advice! This is an entertainment and opinion-based show. I am not a financial adviser. Please only invest what you can afford to lose, and we encourage you to do your own research before investing. DYOR!
How to Make Big Profits Trading Currencies – Simple Tips to a Triple Digit Income!
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