Polka dot is an open-source project that works with shared protocol that enables Blockchain Networks to work with Synergy. The token serves three distinct purposes; Governance, Staking and Bonding. This is designed to co-exist with Leading smart contract Blockchains rather than competing with them. This is very appealing factor for some Investors. It won't be easy for the Polka dot to challenge Ethereum as many working projects are already using Ethereum Network even though Technically it is superior project but It is already Home of 197 projects those are working on its networks and many more willing to join it.
This is also evident from price movement that we have witnessed during the past month when its price moved from $2 to almost $6 that reflects great interest of Investors in this token. There are some predictions that within a year time , Dot will be Top 3 on Market cap.
This is very funny and I've never dreamt about it. Where is polkadot when it comes to market caps. This is a way developers had been using to attract investors in investing in there project. Many of this projects that is being agigated over the internet might not even be that successful at the later time. Polkadot might still do better but not to compete with it's Ethereum which we all know that it's still have greater tendency of going far.