Spartan Black, a cryptocurrency-based investment fund based in Asia, expects the Polkadot project to have more potential to be in the top 10 cryptocurrency list by total market capitalization.

The coin of the Polkadot project, DOT, was listed nine days ago for trading on the Binance platform and has risen by more than 200%, and according to many analysts and coin watchers, the price may go up even more.

There are many positive factors that boost sentiment around the DOT coin.

As the Polkadot project protocol does not directly compete with the Ethereum network, but rather is rapidly expanding towards new solutions, the protocol can compensate for the problem of high fees on Ethereum.

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What will motivate the Polkadot project to grow even more?

DOT coin has experienced exponential growth in recent weeks, data from PolkaProject shows that there are already 197 projects in the Polkadot ecosystem.

Apart from the project having powerful technologies, Polkadot also arguably has one of the most efficient developers in the smart contract space.

Gavin Wood created Project Polkadot in 2016 and is a key figure behind the development of the Ethereum programming language and Parity Technologies.

Wood has played a major role in the growth of the Ethereum network over the past four years.

The combination of an active community, the growing number of projects in the ecosystem, and Wood’s involvement seem to be driving the demand for the DOT coin.

Spartan Black fund Kelvin Koh predicted in mid-August that the DOT would hit $5.

Within weeks of forecasting, the DOT coin surpassed the $5 value, rising to $6.57.

At the time Koh said:

If Cardano has a market capitalization of $3.8 billion, the polkadot must be worth at least $5 billion, i.e. $5 per coin.

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Koh followed up on his prediction and told that the DOT coin is expected to be among the top three cryptocurrencies on coin tracking platforms Coingecko and CoinMarketCap.

Where stated In this regard, he said:

Within a year, the DOT coin will be in the top three cryptocurrencies by total market capitalization.

Not competing with Ethereum is an important factor:

Ethereum is by far the most popular smart contract blockchain to date.

The total market value of Ethereum is estimated at $43 billion, while the “Polkadot” project has a total market value of $5.6 billion.

The Polkadot project does not directly compete with Ethereum, Koh explained, as the long-term DOT coin boom should not lead to a decline in Ethereum.

Blockchain networks, such as Polkadot and Cosmos, are structurally different from Ethereum, and at this point Koh explained:

I believe in a multi-blockchain world interconnected by bridges.

Polkadot will not replace Ethereum.

If Polkadot, along with other smart contract protocols, can coexist with Ethereum, it increases the chances of survival in the long run.

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The major trading platforms have already listed DOT coin which indicates support for the digital currency.

Even US exchanges, including Kraken, incorporated DOT coin quickly after its launch.

Joseph Todaro of Blocktown Capital said:

The inclusion of kraken for DOT before Binance and Coinbase was a huge win.

If you are in the US and want to buy a DOT, the kraken platform is where you should go.

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