While crypto has had its ups and downs this year, I think it's fair to say that the sector reached new heights in 2025. The Trump administration's push to make the U.S. the global crypto capital has led to deregulation, as well as legislation aiming to clarify regulatory gray areas.
This has opened the door to institutional capital and allowed mainstream financial institutions to wade further into the market. Investors are now pouring into the traditional cryptocurrencies and are also trying to find the next big one that will break out.
Ethereum (ETH +1.88%), the second-largest cryptocurrency in the world by market value, has always been a favorite, but it really started to pick up steam after a slow start to the year. As the 24th largest cryptocurrency in the world, Polkadot (DOT +1.21%) is not as well known, but it is a token investors are increasingly interested in. Which is more likely to be a millionaire maker?
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Polkadot: Trying to solve core blockchain issues
The blockchain networks that cryptocurrencies run on are considered a technological breakthrough already being used in real-world use cases. However, like any popular technology that gains critical mass, blockchain technology is dealing with several issues, including scalability, how to maintain its decentralized concept as it gets bigger, and how to further integrate the sector, considering all of the different networks out there.
Polkadot's network solves these issues in several ways. The network runs on the proof-of-stake (PoS) consensus mechanism, which involves token holders staking tokens for an opportunity to validate transactions and create new blocks. The more tokens one stakes, the greater the chance they have to validate transactions. PoS is much more energy efficient than the original proof-of-work consensus mechanism that Bitcoin runs on, in which miners have to use powerful computers to solve complex math puzzles.
CRYPTO: DOT
Key Data Points
For one, the Polkadot network is capable of processing many transactions per second (TPS). According to its website, Polkadot achieved a theoretical TPS throughput of 623,000 during a stress test in 2024.
Within Polkadot's main blockchain network are other blockchain networks, created by developers, that can simultaneously process transactions using their own parameters. These independent blockchains are also what make Polkadot one of the most interoperable networks that other networks can use as a bridge when trying to transfer assets or make transactions across blockchains. Developers can build blockchains within Polkadot that connect to other networks and allow them to communicate with one another.
Ethereum: The decentralized app capital
One of the most exciting aspects of blockchain networks is the ability to build and run decentralized applications (dApps). DApps have smart contract functionality, which is essentially the execution of digital contracts after certain conditions are met.
Ethereum was a first mover on this front and has become the go-to network for dApps, with the bulk of all dApp activity happening on the network. Now, this has created scalability and congestion issues on the network, which also runs on a PoS consensus mechanism.
CRYPTO: ETH
Key Data Points
But there is a critical mass, which gives Ethereum a lot of momentum. For instance, some of the largest cryptocurrencies in the world, like Shiba Inu, were built as ERC-20 tokens on top of Ethereum's network. Also, the majority of stablecoins are currently being issued on Ethereum, and many think there is a long runway ahead for these digital assets, which are pegged to a currency or commodity. According to Ark Invest, roughly 2.7 million staked Ethereum coins are being used as collateral in decentralized finance transactions.
There is also a burning component to Ethereum, which may remove tokens over time, creating a more attractive supply-and-demand dynamic.
More likely to be a millionaire maker
My best advice for those looking to find strong cryptocurrencies is to invest in those that run on networks with strong real-world utility -- more use of a network should lead to more demand and adoption of the network's token.
Both Polkadot and Ethereum run on networks with strong real-world utility. While Polkadot looks like it is developing a stronger network from a technical perspective, I would still choose Ethereum as the most likely to make a millionaire. It has the first-mover advantage and has built a bigger network when you consider all of the dApps and stablecoins already transacting on its network.
There is still a lot we don't know about crypto, but Ethereum has achieved a certain scale that will likely maintain the token's relevance long term. For what it's worth, I find Polkadot's network very intriguing and think investors can buy the token as more of a speculative play.
