DOT vs ETH: make your bets
Hey, friends, how’s life ahead of the upcoming weekend? Working hard to have a good rest later? Let’s take a little break from the everyday hustle and see what’s happening on the cryptomarket. In our Friday’s digest today, we will see both promising ‘novices’ and laggard heavies. But good news first!
Last week, Polkadot (DOT) altcoin stole the show and grabbed market attention due to its sensational bounce. After the listing on Binance exchange, its week’s price increased by more than 200% while its capitalization topped $6 billion. Moreover, it joined five top cryptocurrencies unseating Chainlink.
Such success is determined by DOT long-term benefits as well as by growing number of blockchain projects and smart contracts. So far, Ethereum remains the main protocol for smart contracts however there are speculations that DOT will be developing alongside ETH and, having eventually unlocked its full potential, will likely be able to compete with Ether.
By the way, about ETH. And here we have rather disappointing news — the digital currency continues to plummet for the second week in a row. During this period, the altcoin lost 12% and broke the $370 mark.
Meanwhile, despite the analysts’ pessimistic forecasts, who predict further decline, ETH founder Vitalik Buterin doesn’t have any doubts that the launch of the new, second version (ETH 2.0) of his project won’t face any difficulties and will be successful. The update has been rescheduled several times already however such confidence props up hopes and reinforces markets’ optimistic sentiment.