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. Moreover, the Polkadot ecosystem is referred to as a tough competitor for the Ethereum platform.
Are you currently holding some DOT’s? Wondering about its performance in the future?
This composition provides you with the fundamentals of the Polkadot ecosystem with the historical price movements and also the possible future price predictions.
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|Market Capitalization||$ 40,746,051,370.0000|
|Circulating Supply||$ 990,495,502.1817|
|Trading Volume||$ 0.0000|
|All time high||$ 47.6300 April 17, 2021|
|All time low||$ 2.7000 August 20, 2020|
Fundamental Analysis Of 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, shared network
- 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 Price Prediction 2021
With a bullish run DOT initiated the year 2021 with a trading price of $9.12 at the dawn of January. With certain variations, the currency started to surge further. Polkadot might reach a newer heights as it is considered as the fastest transacting cryptocurrency. Significantly, it may hit a new high if it succeeds to attain the minds of the investors. By the end of 2021, the digital currency might be traded at the $160 mark.
Polkadot Price Prediction 2022
DOT could resume the year 2022 with a value of $165 during the start of January. Further the price is anticipated to rise if the currency enhances its user base as well as the investors. The price might decline if the market turns bearish. At the end of 2022 Polkadot would be trading at $260.
Price Prediction For The Next 5 Years
In 5 years, Polkadot might be the utmost currency to trade. It may break its previous price records and the price could rise consistently high. Certain perpetual contracts by exchanges may lead to growth of the currency and it might hit a new all time high. The community might collaborate with certain developers to enhance its protocol. By the end of 5 years, Polkadot is anticipated to trade around $450.
Polkadot (DOT) Market Prediction
The analysts associated with coinpriceforecast believe the DOT price would rally surrounding $197.88 by the end of 2021 and by the end of 2025, the price is expected to hit $441.43.
DigitalCoinPrice speculates the DOT price to touch $53.21 by 2021. The price is expected to surge and cross $100 hitting $109.15 by the end of 2025.
According to TradingBeasts.com the Polkadot price is going to increase. By the end of 2022, the average Polkadot price is expected to be $19.51423.
According to Walletinvestor the price is expected to go up $35.988 to $110.268 in the coming year. By the end of 2026, the price is expected to hit $423.426.
Our Polkadot Price Prediction
Polkadot entered the year 2021 with a cost of $9.12. Effectively, the coin started to grow after. 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. The community might come up with new improvements like enabling a multi-chain future.
The DOT price as per our analysis may be exchanged at $150 by 2021 which might touch $500 in the future.
Historic Market Sentiments
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 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.