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BTC $43457.03 (2.99%)
ETH $3030.96 (4.99%)
USDT $1.00 (0.03%)
BCH $542.00 (2.64%)
BSV $153.10 (3.09%)
LTC $160.04 (3.83%)
BNB $377.22 (5.16%)
ADA $2.23 (8.68%)
DOGE $0.22 (7.04%)

Polkadot Gains Hype, ETH Undervalued Despite Market Cap

Polkadot Gains Hype, ETH Undervalued Despite Market Cap
  • Polkadot (DOT) has gained hype while Ethereum is undervalued despite its market cap.
  • At press time, Ethereum’s market cap is at $137.8 billion and Polkadot at $15.4 billion.
  • Pantera Capital believes that Ethereum is undervalued compared to Polkadot.

The digital asset Polkadot (DOT), has gained massive hype over ETH,  despite the latter’s grand rise over the past couple of weeks. Currently, DOT ranks in the fourth position in terms of market cap.

However, at the press time, ETH’s market cap is $137.8 billion while DOT holds $15.4 billion. Polkadot is rapidly climbing higher up on the ranking scale.

According to an on-chain data aggregator at CoinGecko, DOT’s market cap has quadrupled since December.

Additionally, in terms of transfer volume, Polkadot shows an average of six transfers per minute. Months ago, Ethereum had an average transfer of over 850 per minute.

In support of this very vital moment for DOT, blockchain-based firm Pantera Capital expressed its opinion. Interestingly, The firm suggests that “Ethereum may be the one undervalued” over Polkadot.

Perhaps, even more so thanks to DOT’s sudden burst in market cap. Panthera Capital made this comparison once before in its previous newsletter. They said that ETH was undervalued compared to BTC.

Likewise, many investors and avid crypto lovers believe that in reality, Ethereum’s price should surpass what it is currently reflecting.

Nonetheless, Ethereum still holds the rank of the second-largest cryptocurrency within the  crypto space despite DOT’s recent hype.

Read Also: Polkadot (DOT) Price Prediction and Price Analysis 2021

Collins Adane is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.