Coin Bureau host Guy Turner is optimistic that Polkadot (DOT) and Cosmos (ATOM) will be booming during the next crypto bull run.
Citing a report from Electric Capital, Turner tells his 2.21 million YouTube subscribers that two-layer blockchains can attract and retain developers despite getting significantly less funding than Solana (SOL), Polygon (MATIC) and Near Protocol (CLOSE).
Turner says that’s a sign that DOT and ATOM will shine in the next crypto cycle.
“Crypto projects with a lot of funds have been the least affected by the bear market. This includes existing blue chip crypto projects like Polygon, Solana, and Near protocol. It also includes possible future blue chip crypto projects such as Aptos…
However, there are exceptions to this rule like Polkadot and Cosmos…
The ability to continue to build a developer base despite having significantly less funding is another quality that both projects share.
Call me crazy, but I think this is concrete evidence that Polkadot and Cosmos have the most engaged communities and therefore the most productive ecosystems.
The fact that we didn’t see any DOT or ATOM fireworks during the previous crypto cycle suggests that the next one will be their time to shine.”
According to the Electric Capital report, the number of developers at Solana, Polkadot, Cosmos, and Polygon increased from less than 200 during the crypto winter of 2018 to more than 1,000 today. Other blockchains like Aptos (APT) saw the number of developers grow by more than 50% year over year. Developers on Near Protocol increased 40% year over year.
However, Turner says that regulatory risk and the possibility of cryptocurrency prices falling further could hurt the projects’ ability to retain developers.
“My only warning is that there is a real possibility that we have not yet seen the bottom of the current crypto bear market.
If the cryptocurrency market continues to crash, or simply moves sideways, it could have a negative impact on developer retention for all cryptocurrency projects and protocols.
There is also the very real risk that regulators in the United States, specifically the SEC [U.S. Securities and Exchange Commission]will crack down on some of these crypto projects.”
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