A trending digital currency analyst and influencer has recently revealed that, according to a report by Electric Financial resources, Polkadot (DOT) ($DOT) and Cosmos ($ATOM) have the capacity to outperform the wider digital currency market over the following cycle.
In a video Coin Bureau host Guy Turner shared with his over 2.2 Million subscribers on the Google-owned video-sharing platform YouTube, he revealed that both of the blockchains teck have been able to both attract and retain developers during the bear market, regardless of having less financing than competitors like Solana (SOL) ($SOL) and Polygon ($MATIC).
To the analyst, this implies that both digital assets could outperform the wider digital currency market when investors turn positive tendency, as per his words blue-chip projects with “ numerous financing have been the least influenced by the bear market,” with some exceptions being $ Polkadot (DOT) and $ATOM.
Per Turner, the “ capacity continuation building a developer base regardless of having significantly less financing is another quality both projects share.” As Daily Hodl reported, the analyst stated that the lack of enthusiasm for the projects for the past cycle “suggests the following one will be their time to shine.”
The Electric Financial resources report shows that the developer count for Solana (SOL) Polkadot (DOT), Cosmos, and Polygon has been growing from under 200 during the 2018 cryptocurrency downturn to over 1,000 now.
Blockchains teck like Aptos (APT) experienced a yearly increase of over 50 percent in the number of developers, while Near Protocol saw a 40 percent year-over-year boost. Nonetheless, Turner is warning that regulatory uncertainties and potential cryptocurrency price declines could hurt projects’ capacity to retain developers.
If the cryptocurrency market persists to collapse, or even just move sideways, it can potentially have a negative impact on developer retention for all cryptocurrency projects and protocols.
The analyst likewise cautioned that there is danger in regulatory authorities in the United States potentially cracking down on these projects.
As CryptoGlobe informed, Polkadot (DOT), a blockchain tech network often stated as a “ blockchain tech of blockchains,” has recently become the leading digital currency network by development activity after surpassing Cardano (ADA) ($ADA).
Polkadot (DOT) saw its active user numbers surge 300 percent amid last year’s digital currency market rout. Polkadot’s main blockchain tech, was known the relay chain, does not support smart contracts, but other blockchains teck connected to it can support them.
In doing so, Polkadot (DOT) is expected to become a growing ecological system of digital currencies that competes with other smart contract networks such as Ethereum (ETH), the BNB Chain, and more. It was launched in 2020 and brings a number of technical features that assist it reach its goal.
Polkadot (DOT) is the native digital currency of the Polkadot (DOT) network and serves as its governance crypto token. Polkadot (DOT) holders can stake their tokens to vote on network upgrades and assist decide future of the Polkadot (DOT) by actively taking part in its governance, according to CryptoCompare.
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