2 INSANE Coins Primed for GAINS (Kusama & PolkaDot HUGE Update)

Posted 37 mins ago | by Catoshi Nakamoto

There’s a reason Polkadot has solidified itself in the top 10 in 2021; it’s all in the family. Polkadot and its MASSIVE eco-system have approached blockchain in a unique, unconventional fashion and it goes to show that there’s strength in numbers. Simply put, DOT is the hub of the wheel and its eco-system are the spokes. This creative approach to scalability and interoperability has kept this family rolling on the highway towards blockchain prosperity. John Steinbeck once said, “People don’t take trips, trips take people.” So let’s pack our bags and see whats up with Polkadot and Kusama.

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Lets get it.

Welcome to BitBoy Crypto. Home of the Bitsquad, the largest crypto community in all of the interwebs. My name is Ben. Every day on this channel I show YOU how to MAKE MONEY in Crypto. If you like money and crypto then make sure to hit that subscribe button. If you want to go deeper into crypto, make sure to check out bitlabacademy.com. In this video, we will discuss Polkadot, Kusama as well as some other notable projects in the DOT family that have potential to end Q4 with a bang!

In the spirit of the holidays, for this video I want you to think of the entire blockchain eco system as one big family. The patriarch of the family is old Grandpa Bitcoin. He’s a strong leader and that’s why he makes a lot of the big decisions for the rest of the family. Although he can make everyone grumpy when he’s below 50k, his kids always look to him for advice when they don’t know when to go up or down. When it gets dark, his baby ALTS help him carry red candles down the hill by the forest to help feed the bears. They even walk up the hill with him by the green pastures so they can lure the bulls into the chute to prepare for the rodeo. Grandpa looks good in chaps; he used to be a cowboy. He’s makes some risky decisions, and has hundreds of children and grandchildren; that’s why Grandma lives over the river and through the woods. Before they divorced, three of their kids: Vitalik, Charles and Gavin, all had an affinity for mathematics and applied sciences.

In their younger years, they all put their heads together trying to one up their father and created Ethereum. As most of you already know, every family has their own set of drama. For better or for worse, the trio split up. Vitalik stayed with ETH, Charles created Cardano, and Gavin Wood created Polkadot. They all have their pros and cons and if you leave market cap out of the discussion and focus mainly on functionality, it’s tough to debate who’s better than the other.

ETH and ADA are both respectable layer one protocols, but Gavin Wood took his time to think outside of the box when creating Polkadot. His goal was to make Polkadot a “layer zero” solution that focuses in on interoperability, scalability and security. Instead of overloading the mainnet and letting the congestion slow speeds and cause higher gas fees, Gavin’s vision was to distribute the workload throughout the rest of the eco-system so his family works together efficiently and securely at scale. In Gavin’s sharded proof of stake protocol, parachains, which are separate chains that run parallel to the mainnet, intelligently communicate with each other in order to validate nodes and exchange information for the relay chain. The relay chain, what Polkadot calls their mainnet, allows transactions from all chains in the network at the same time. This was meticulously designed to promote cross-chain communication, transparent governance and because of the design, it’s easy to update. Unlike many others, there does not need to be a hard fork to update Polkadot.

Also unlike many others, Polkadot has a cousin canary side chain known as Kusama that acts as an active test net to experiment new ideas with. Kusama’s like that one cousin you only see at Christmas and you use his fingers to make sure your gorilla glue works. Since many blockchains don’t have a test net, let alone an active one, they cannot take unnecessary chances to try out new, radical ideas. Kusama embraces the chaos with style and has the numbers to back it up. On January 1^st of this year, KSM traded for just under $70 dollars. In a short amount of time, it went on a parabolic run to its May 18^th all time high of $606. It is currently ranked #57 by market cap, trading for $366 per coin with a market cap of 3.2 billion dollars. The latest run up to $512 dollars on November 7^th had was due with anticipation of the parachain auction hype, not to mention Bitcoin was also above 60k at that time. Keep in mind, unless your name is SAND, all the ALTs always follow grandpa Bitcoin. Kusama, DOT and Bitcoin have all corrected since the second week of November, but that doesn’t necessarily mean there’s not time left for the bulls to have a rodeo. The price action for DOT this year has almost been as wild as Kusama’s.

Can you believe that on January 1^st DOT was trading for just under nine dollars? It ran to $45 dollars in May, corrected to around $11 dollars in July and reached a new all time high just over $53 on Novemeber 7^th. In the past month DOT has corrected roughly 26% to $36 dollars, but I have reason to believe we’re not headed back below $30 dollars any time soon. (See Charts attached in email) On the 4 hour DOT chart, the price action is bouncing off the bottom Bollinger Band and there is bullish divergence on the RSI and on Market cipher B. Market Cipher A also printed a fresh green dot and indicates a -5/15 on the dual band strength index. Very Bullish. On the MACD, the signal line is above the MACD line for now, but that should flip soon considering the volume profile visible range aka VPVR (More zoomed out chart) indicates that the most amount of buyers are sitting currently at the $41 dollar range.

If Grandpa Bitcoin wakes up from his nap, seeing DOT back over $50 dollars wouldn’t surprise me the least bit. In fact, maybe not this cycle, but in due time, seeing a $100 dollar DOT and a $1,000 dollar KSM is inevitable.

Right now, there are several reason I’m so bullish on DOT and it’s ever-growing family. Yes, Binance.US recently announced that you can now trade DOT on their exchange, but honestly, the REAL excitement lies in the parachain auctions currently underway. The parachains auctions are for lesser-known projects to have a chance to be a spoke on the Polkadot wheel. Listen, these are GEMS in the making. Pay close attention to who’s winning these spots and write them down. We all saw what happened with Moonriver within a couple of weeks, that could easily happen again. The first auction stated bidding on November 11^th. In order to become a parachain on DOT or KSM, the project has to win a slot auction through crowdloans and bidding more DOT than their competitors. If a project wins a slot auction, they earn a spot on the relay chain and lock up the DOT for the duration of their lease. The maximum amount of time a project can lease on Kusama is 48 weeks and 2 years for Polkadot. The projects do have an option to renew the lease when the time expires. There are expected to be 100 parachain slots. On November 18^th, A DEFI protocol known as Acala won the first Polkadot parachain auction with over 1.3 billion dollars in DOT committed. Moonbeam, sister chain of MoonRiver (MOVR), won the second parachain auction “with over 35 Million DOT (1.35 billion dollars) contributed from 200 thousand plus contributors worldwide.”

Moonbeam prides itself for creating the most powerful Ethereum compatible smart contract on Polkadot. This project will launch Q1 of 2022. On December 2^nd, Polkadot put out a tweet congratulating the Astar Network on winning the 3^rd parachain auction with over 27 thousand contributions. Formally known as the Plasm Network, Astar is a multi chain, Build to earn, Polkadot DApp Hub. More and more news will continue to circulate around DOTs parachains as there will be a new winner every week for the next 90 plus weeks. Polkadot announced that the first 5 winners of the auctions are set to launch on December 17^th. Due to popular demand, countless projects are crowdloaning to try to earn a spot in the prestigious DOT family, but one hopeful I want to mention is Efinity. According to a December 1^st article from cryptoninjas.net, “Enjin, a decentralized platform for NFTs, today announced over 70+ ecosystem partners have committed to building the decentralized Metaverse on Efinity.” I’m proud to say that one of those aforementioned 70+ ecosystem partners is our very own Pluto Alliance. We believe in Efinity and YES, Pluto is a planet. Take a moment to smash that like and subscribe button, that puts you in the Bitsquad, the most pro-Pluto crypto channel in all the interwebs.

The Polkadot family continues to get larger as every week passes by. This is a very large eco-system and if you have the time, be sure to comb over each and every coin that’s available to trade within the DOT family, because when DOT starts to gain some momentum, the lower cap coins below it will have much more volatile price action.

I’ll do more dedicated reviews of the deeper Polkadot ecosystem but for now, That’s all I got, be blessed, BitBoy Out!

Source: https://thebittimes.com/2-insane-coins-primed-for-gains-kusama-polkadot-huge-update-tbt7716.html?utm_source=blogger_source&utm_medium=blogger_medium&utm_campaign=blogger_cam

Category: Cryptocurrency News

Post by: TheBitTimes.com