The polkadot price has recorded an increase in price by 38% in the last 24 hours, pushing the market cap to $11.36. It was an All-Time-high with $11.60 in earlier trading. The market cap of the token has passed the $11 billion threshold for the first time.
According to Coin Market Cap, PolkaDot is now the fifth-largest cryptocurrency, snuggled between XRP and Litecoin. Polkadot is one of the prominent projects that provide extraordinary economic extensibility by enabling a common set of validators to secure multiple blockchains.
Among the Blockchain Networks, Polkadot is relatively a newcomer built under the leadership of Gavin Wood and Jutta Steiner of Parity Technologies.
Polkadot is a flagship project by Web3 Foundation, a Swiss foundation to facilitate a fully functional and user-friendly decentralized web. According to Polkadot’s product positioning, the protocol doesn’t seem like a competitor to Ethereum. It is a next-generation Blockchain protocol connecting an entire system of blockchain built networks.
Polkadot is also moving quickly, making its position in the top crypto-space. In August 2020 it ranked in the top 10 of all crypto, and a month later assembled a market capitalization of over $5 Billion.
Polkadot Price Prediction
Analyzing the market predictions of the Polkadot currency and based on research conducted by our team, we also speculate a good DOT momentum within the crypto space. We also believe DOT price might plunge recording decent gains till the end of 2021, which could continue in the coming years.
The DOT price as per our analysis may also touch $13 to $15 by 2022 which might touch $20 in the next couple of years