A million-subscribed crypto analyst lists the catalysts two booming altcoin projects need to make it 5x the rest of the year.
These 2 rising altcoins can be watched closely
In a new strategy session, the Coin Bureau host, nicknamed “The Guy”, is updating his prospects for Polkadot (DOT) and Cosmos (ATOM). Three months ago, the analyst took a deep dive into DOT’s parachain auctions, a highly selective process to determine which project-specific blockchains will be integrated into the Polkadot network. Guy says:
The demand driver for DOT comes from use cases in Polkadot’s parachains, particularly Acala, which recently announced a large incentive fund for the DeFi platform that leveraged DOT. A convenient side-effect of Polkadot’s parachain slot auctions is that almost 15% of DOT’s circulating supply remains locked for two years, and when you add this to DOT’s approximately 55% equity offering, only about 30% of this DOT supply is available. means it is.
As the analyst noted above, 15% of total DOT supply being locked down means more price action for DOT when demand returns. Guy warns in continuation of his analysis:
But DOT’s huge market cap means it will have a hard time getting more than 3x higher in the short to medium term, especially with all the resistance building up. It’s around the $30 level.
Analyst talks about an element that keeps the trend alive
Coin Bureau server, whose analysis we share as Kriptokoin.com, follows a video in February and says that he predicts good growth by preventing the collapse of the crypto market.
Many projects in the Cosmos ecosystem are not widely supported by centralized exchanges and even resist being listed on centralized exchanges. This only increases the demand for ATOM as the bridge currency for these new chains.
Another advantage ATOM has, according to the analyst, is a mid-range market cap:
The mid-range market cap is the ability to increase ATOM’s price in percent. means it requires less money. To put things in perspective, if ATOM saw a trade at the same level as the DOT, it would yield 3x more than its current price. Assuming individual interest yields, I think this is a realistic short-to-mid-term prospect for ATOM. If that actually happens, and at the growth rate of the Cosmos ecosystem, I think a 5x move is a possibility. I will emphasize that all this assumes that the crypto market will continue to rally, this is by no means guaranteed.