Polkadot (DOT) has been a relatively poor performer in this ongoing bull market cycle. To end this current bearish stalemate, top market analyst, Michael van de Poppe has tipped the project for growth.
Polkadot Growth Catalyst
According to van de Poppe, Polkadot is currently experiencing its cycle low. At the time of writing, Polkadot is changing hands for $6.89, up 3.54% in the past 24 hours. While the coin has seen a mega uptick overnight, its bearish growth headwinds remain visible.
In the trailing 7-day period, DOT has dropped by 1.27%, a slump that is gradually closing up. In the past month, Polkadot has registered more than a 27% drop in its valuation. This drop has seen its price hover in between a high of $9.73 and a low of $5.81 before cresting at its current level.
To van de Poppe, there might be a reversal in the long term as Polkadot is integrating many great features at the moment. Among the features it has disclosed is the JAM Protocol, a next generation engine that might likely displace its current relay network.
This is not the most interesting aspect for the analyst. Michael van de Poppe highlighted that Polkadot is well positioned to promote AI scalability through its multi-chain architecture.
AI Might Be The Ultimate Catalyst
Many crypto projects are currently leaning heavily into AI innovations at the moment. The market analyst believes Polkadot may also tap into the growing trend.
“The sharded multichain setup eliminates transaction bottlenecks and increases more efficient AI computations!,” he wrote in his analysis posted on X.
$DOT is on a cycle low, while integrating many great features within the blockchain, also AI.
They have a multi-chain architecture ready for AI scalability.
The sharded multichain setup eliminates transaction bottlenecks and increases more efficient AI computations! pic.twitter.com/Pj3twMslOg
— Michaël van de Poppe (@CryptoMichNL) April 28, 2024
While Fetch.ai and SingularityNET might be at the forefront of the crypto AI revolution, the discovery of the inherent potentials of Polkadot might tilt the game. Ultimately, the goal is to displace mainstream tech giants like Elon Musk’s xAI with massive funding at their disposal.
