According to CryptoPotato, Polkadot (DOT), the 15th largest cryptocurrency with a market capitalization of nearly $12 billion, is predicted to surpass the $15 mark. This prediction comes after the cryptocurrency recently gained attention due to its high development activity and backing from a notable venture capital firm. Despite being far from its all-time high of over $50, DOT has been on a positive trajectory recently.
Prominent analysts are confident that DOT will see significant growth in the coming months. Factors contributing to this prediction include the overall bull run in the digital asset sector and the fundamentals of Polkadot. Well-known trader and analyst CRYPTOWZRD has suggested that the asset's price is set for a 'volcanic eruption brewing.' They believe that DOT's valuation could increase by 80% in the next few months if it surpasses the major resistance zone of $9.60. Crypto content creator and investor Jake Gagain is even more optimistic, predicting that the asset may reach nearly a new all-time high next year.
Last month, Electric Capital, a California-based venture capital firm focusing on cryptocurrency, blockchain, and fintech, recommended investors to keep an eye on DOT during this bull cycle. The firm commended Polkadot's 'army of full-time developers,' which has grown significantly over the past three years. The firm believes that Polkadot will be a silent force that holds the Web3 revolution together.
Earlier this year, Polkadot's token topped a prestigious ranking, surpassing leading cryptocurrencies such as Ethereum (ETH). As reported, DOT was among the top 10 crypto assets by development activity, with notable GitHub commits at the end of January. Kusama (KSM) ranked second, while Cardano's ADA rounded up the top 3 list.
