In an era of cryptocurrencies, there are plenty of projects taking an initiative to compete in the market. Polkadot is one of the eminent projects that provides an extraordinary economic extensibility by enabling a common set of validators to secure multiple blockchains.
Polkadot is a flagship project by Web3 foundation, a Swiss foundation to facilitate fully functional and user friendly decentralized web.
Are you currently holding some DOT’s? Wondering about its performance in the future?
This article aims to provide the information and DOT Price Prediction for 2021 and beyond which clarifies all your thoughts.
Let us look in to the article.
Table of contents
|Market Capitalization||$ 36,393,199,855.0000|
|Circulating Supply||$ 969,667,729.3265|
|Trading Volume||$ 2,839,857,080.0000|
|All time high||$ 42.2500 February 20, 2021|
|All time low||$ 2.7000 August 20, 2020|
What is Polkadot?
Polkadot is considered as one of the most pioneering projects based on a multi-chain framework that can be a competitor. It aims at providing the most advanced peer-to-peer network for numerous blockchains.
Polkadot was developed by Swiss-based Web3 Foundation looking forward to providing a fully functional and user-friendly decentralized platform. The main features of the polkadot platform are listed as,
- Strong interoperability approach
- Shared security of relay chain & parachains
- Performant, sharaded netwrok
- Sophisticated governance process
- Easy blockchain setup
After conducting an ICO in 2017, Polkadot launched an experimental and unaudited version called ‘Kusama’ in 2019, and recently, in May 2020, the Polkadot mainnet was launched.
Polkadot’s native token is DOT which intends three main purposes- governance over the network, staking, and bonding. In September 2020, a sudden spike in the market capitalization made the token enter the top 10 cryptocurrency list. However, Dot is not an ERC-20 token, rather a Polkadot blockchain-based cryptocurrency.
Polkadot(DOT) Technical Analysis
The polkadot foundation conducted a successful ICO in October 2017, raising over $140 million and sold nearly half of 10,000,000 DOT supply. But unfortunately, the company was driven by losses which compelled them to conduct two rounds of private sale, one in 2019 and other in 2020.
During the ICO days, a single DOT was priced at nearly $30 but in August 2020, the DOT holdings were redominated. Meaning, for the users who bought a coin for $30 were presented $100 new coins for $6 each. Therefore giving a total value of $600 for one coin.
The price started to trade at $5.20 in the mid of September and further started to fluctuate. It was trading at $4.42 in the early October and further plunged to $3.86 in the mid of October. The price traded between $4.01 and $4.15 until the end of October.
The price has suffered major fluctuations in the start of November as the price plunged to $3.90. Later on the price reached to $5.88 in the end of November with the price plunge.
The price continued to trade at $ $5.36 in early December and further started to fluctuate. The price reached $5.47 in the mid of December. On a bullish note, the price reached $7.68 at the end of December 2020.
Polkadot Price Prediction 2021
With a bullish run DOT initiated the year 2021 with a trading price of $9.12 at the dawn of January.The price of the digital asset is expected to reach $20 by the end of January 2021.
Further, by mid of 2021, in June-July 2020, the asset is expected to surge hoarding nearly up to 20-25 percent gains. The DOT price is expected to surge between $20 and $30.76 by mid of 2021 and by the end of 2021 in December, the price may come close to $50.
DOT Price Forecast 2022
DOT’s price would be trading above $50 during the start of the year and the price could be stable for several months with fewer price fluctuations. At the end of 2022, Polkadot would be trading at $70.20. The price might suffer from a massive plunge if it fails to upgrade or improve its protocol.
DOT Price Prediction for 2025
The DOT price has a steady growth and possesses less frequency of a steep decline. However, the market behaviour cannot be fully determined as it tends to swing at its own pace.
The start of 2022 would be a good phase for DOT to be priced above $80 or at the higher side, the price could touch $100 too.
In 2025, the prices are expected to rally close to $120 to $150. 2025 would end by bringing the DOT price to somewhere around $170 to $200 in december 2025.
Polkadot (DOT) Market Prediction
Cryptocurrency price prediction
The analysts associated with cryptocurrencypriceprediction believe, the DOT price would rally surrounding $40 by the end of 2025.
Digital coin price
Digitalcoinprice speculates the DOT price to touch $8.43 by 2021. However, their prediction for DOT price in 2025 is pretty low than the above. They anticipate the price to swing near to $13.91 by the end of 2025.
Changelly.com has predicted a nail-bitting prediction for DOT in the coming days. They present with a very scary prediction that the DOT price is expected to fall more than 90 percent and by the end of 2020 or start of 2021, the DOT price would crash down to $0.2.
According to TradingBeasts the Polkadot price is going to increase. By the end of 2022, the average Polkadot price is expected to be $19.51423.
Our Polkadot Price Prediction
Analysing 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 $50 to $70 by 2021 which might touch $100 in the next couple of years.
Polkadot is an project that aims to bridge the gap between n number of blockchains by building better cordination between them.
The current all-time high lies more than $6 which is pretty tough for the DOT to attain by the end of 2020. But yes, it may surge above the levels in the coming year.
As per some analysis, DOT price is however expected to reach $40, but the path seems to be pretty tough.
NO, DOT is not an ERC-20 token but a asset build and developed based on Polkadot blockchain platform.