Cryptocurrencies like Polkadot ($DOT) and Chainlink ($LINK) have experienced a tumultuous year thus far, with extended bull runs immediately followed by sharp drops.
However, with the crypto market showing signs of renewed optimism, some investors speculate that $DOT and $LINK could reach the fabled $10 mark in the weeks ahead.
Meanwhile, another new Web3 project, Launchpad XYZ ($LPX), is also gaining momentum – and has recently hit the $1.2 million funding milestone in its ongoing presale.
$DOT Price Could Push to $10 If Bullish Momentum Returns
Polkadot’s price has been highly volatile in recent weeks, with the token now trading around $5.02 – up 16% year-to-date.
Although this is a much lower return than Bitcoin and Ethereum, analysts still ponder whether $DOT could reach the $10 level in its current cycle.
As a leading blockchain interoperability protocol, Polkadot aims to facilitate seamless information transfers between various networks.
This functionality has garnered significant interest, and Polkadot’s ecosystem now hosts over 380 projects, according to data from PolkaProject.
With so much building on Polkadot, there’s a growing belief that $DOT could see more upside, given how vital the token is to the ecosystem.
Some analysts have even set price targets above $10 for $DOT; for example, renowned market commentator Crypto Dose tweeted that he believes the token could be priced at $900 by 2025.
However, for this to occur, $DOT would need to showcase some sustained bullish momentum, which hasn’t been forthcoming in 2023 thus far.
Chainlink Well-Positioned for Potential Run to $10 Level
Polkadot isn’t the only Web3 cryptocurrency eyeing the $10 price level, with Chainlink also looking poised for growth.
Like Polkadot, $LINK has been a mixed bag in 2023, yet it is up 35% year-to-date.
At the time of writing, $LINK’s price hovers around $7.59, leading many analysts to debate whether it could push up to $10 soon.
Operating as an Oracle network, Chainlink supplies external data to blockchains, ensuring the proper functioning of smart contracts.
This has made it the go-to Oracle solution for many decentralized finance (DeFi) projects, used by the likes of Aave, Synthetix, and Uniswap.
According to a recent update on the ChainlinkEcosystem website, there are now over 1,700 projects that use Chainlink, with over $75 billion in total value secured.
Given this impressive size, experts see further upside if $LINK’s technicals can align.
The token’s price has just rejected the 20-day and 50-day Exponential Moving Averages (EMAs) as support on the daily time frame, which could signal a bullish move in the short term.
Thus, with momentum on its side, Chainlink seems well-positioned to reach the important $10 price level for the first time since May 2022.
Meanwhile, Launchpad XYZ Presale Surges Past $1.2m As Investor Hype Builds
While established projects like Polkadot and Chainlink eye the $10 mark, newer cryptos are also gaining momentum – one being Launchpad XYZ ($LPX).
Launchpad XYZ has recently attracted attention due to the ongoing presale of its native $LPX token.
The presale recently passed the $1.2 million milestone, as enthusiasm builds for this all-in-one Web3 platform.
As outlined in the project’s whitepaper, Launchpad XYZ aims to be the definitive portal for everything Web3 by offering features like a crypto presale library, metaverse experience hub, lightning-quick DEX, and more.
Launchpad XYZ’s ecosystem will also feature the “Launchpad Quotient” – an innovative ranking system that uses over 400 data points to evaluate and score digital assets based on their investment potential.
Combining these features into one platform has piqued the interest of investors, with Launchpad XYZ’s Telegram channel seeing remarkable growth in recent weeks.
With crypto market sentiment improving in 2023, Launchpad XYZ appears well-positioned to capitalize on the growth opportunities being presented.
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