What is Polkadot?
It is One of the most ambitious projects based on multi-chain infrastructure and competitor of Ethereum. Polkadot aim to create most advanced peer to peer network for n number of Blockchain in short world internet for Blockchain. Basically, Polkadot works as protocol that connect different blockchain into one unified network. Polkadot developed by Web3 Foundation with vision of creating decentralized Web3 network for blockchain.
Polkadot was announced in 2017 and after being under development following ICO this project expected to arrive early but in officially launched mainnet in 2019. Polkadot uses sharded multichain network that facilitate thousands of transactions on the different parallel chain. so, this multichain network will solve the problem of scalability and also improve future growth on project by established connection with new blockchain project.
Polkadot wanted to go with fully decentralized network in which community will be on charge with governance system. However, Team can customize, implement community ideas on the platform and for that users need to hold DOT token. DOT is functional token on the platform that enable different roles on the platform including rights of governance, staking and bonding. However, DOT is not ERC-20 Token, as it based on Polkadot blockchain that ultimately benefit to main blockchain network.
Polkadot Price Prediction
| Month & Year | DOT Price Prediction |
|---|
Lukso Price Prediction | Augur Price Prediction
Polkadot Overview
| Project name | Polkadot |
| Ticker Symbol | DOT |
| Total Supply | 10,000,000 |
| Official website | Polkadot.network |
| Based on | Blockchain network |
| Launched year | 2017 |
| All-time high | $55 USD |
| Exchange Platform | Huobi Global, OKEx, Binance JEX, gate.io, Bilaxy, Bibox, MXC, Hotbit, Bitforex |
| Wallet | Polkadot Wallet, Math Wallet. |
DOT ICO Overview
| Platform used | ERC-20 |
| Raised by | $144,630,000 USD |
| Date of ICO | NA |
| ICO Price | NA |
| Partners | Zcash, SORAMITSU, Colony, OMG Network, Symbiont, Gridgularity, ownage, Melonport, Chainlink. |
Polkadot Price Analysis
Polkadot moved to new smart contract in 2021 as DOT holder get proportional token on exchanges and their own platform. DOT moved from ERC-20 network to their own blockchain, as token real uses cases include governance, operation of network and creation of parachain. Polkadot ecosystem since 2021 continues grow and now become 10th biggest crypto asset and being holder of DOT token user will get involved in decision making via governance system.
Polkadot had great run since smart contract upgrade, as token price initiate with $2.9 and it able to create resistance between $4.09 to $50.2 USD. in Bullish sentiment Dot token surges by 940% after reaching at $47 USD price. however, DOT not able hold price above $40 USD, as during Q3 of 2021 it dipped to $11 USD and then immediately rebound above $50 USD.
Dot token could make straight spike with tremendous growth in market volume if market restart bullish sentiment. as per analysis, Dot had strong support at $15 USD, but huge sell-off and fear of recession and inflation market total volume dropped below $1 billion. so, DOT price now trading at below $10 USD, as token already lost momentum and we could see more dip in future.
Polkadot recently undergo denomination day where value of DOT token remains same but supply will cut short by 100x. however this decision was token via governance voting with maximum stakeholder was involved. Following day of Denomination Polkadot surges with huge percentage where It was traded at $395 USD registered as highest price of 2020 till now. since DOT debut i.e. in July 2019 with price $159 USD but after that it continue to follow neutral trend with average price of $130 USD. now, in august 2020 Polkadot seeing rapid fluctuation in market volume and in price graph too. Now, in possible outcomes if it continues gain volume then Polkadot will be closer to $500 USD.
XRP is no longer consider as security based crypto asset, as it continues lost their investors. but in other hand Polkadot who emerge as one of the most growing crypto projects, who is also termed as Ethereum killer. Polkadot acquire 4th spot after defeating XRP in market cap volume and also hit new all time high in 2021. DOT token prices pretty symmetrical in year 2020, as along with other top crypto DOT performed similar to hit new all time high and very close to reach $20 USD mark. however, before 3rd of week of January 2021, we could be seeing DOT keeps setting new ATH and hopefully the project permanently secure 4th sport forever.
No wonder why Polkadot continues to gaining market cap volume, as token secure trading spot in every major platform just like Bitcoin, ETH and other top coins. As, Polkadot become only crypto that launch after January 2019 and manages to secure position in top 10 crypto projects.
FAQ
Is Polkadot worth to buy Now?
Yes, project looks strong and future integration that brings bullish trend.
Is Polkadot a Good Investment?
Yes, long term will be great with staking.
Conclusion
In 2020, Polkadot integration playing major role to have great run on Blockchain market, where since few month Polkadot presences uses as attraction of user. However, Aragon co-founder was also wanted integration with Polkadot and that can boost their network to launch their pending project. So, basically popularity of Web3 Foundation key project is increasing and this will become one of the highly interoperability and scalable project in blockchain. Network will recognised to provide simplicity, connectivity for information exchange and connectivity with different other blockchain project.
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