With the development of cryptocurrency market, increasing altcoins have entered the market and have attracted traders’ attention. Polkadot(Dot), an outstanding one among these altcoins, somewhat competes with Ethereum. Today we are going to talk about Polkadot price prediction and histroy.
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What Is Polkadot(DOT)?
Polkadot(DOT) is the native token of the Polkadot network, an open-source sharding multichain protocol. Polkadot protocol is a highly scalable and customizable blockchain platform, aims at delivering interoperability among other blockchains. It seeks to “unite an entire network of diverse blockchains into a single ecosystem”, by connecting public and private chains, permissioned and permissionless networks, as well as oracles, to allow these diverse blockchains to share information and transactions through the Polkadot relay chain.
Polkadot was created by Dr. Gavin Wood, one of the core founders of Ethereum. The well-known founder and the supply of decentralized applications make people think that Polkadot will be a strong rival of Ethereum. Polkadot’s core component is its relay chain, also its “heart”. It helps to create consensus, interoperability and shared security between varying chains across the network.
As a unique proof-of-stake cryptocurrency, Polkadot’s native token is designed to provide network governance and operations, and create parachains by bonding. It helps to facilitate various functions across the network. At the time of writing, Polkadot(DOT) is changing hand at around $15.82. It ranks 9th by its market cap.
Polkadot(DOT) Price History
Polkadot has started to gain momentum among entrepreneurs and developers in the late 2020 or so. It is an inflationary token, dynamically adjusting in accordance with the participation rates of users. In August 2020, the initial maximum supply of DOT coins was 10 million. As of late June, it has a total supply of 1 billion Polkadot coins.
Polkadot crypto price history is relatively short. In late 2020, its price performance was generally average, failing to break through $10. Entering 2021, DOT has gained strong momentum, reaching its all time high of $49.69 on May 15. After reaching the peak, the May 19 collapse drew down the entire market. And DOT fell into red either. After that, it gradually recovered and consolidated. Currently, it is stable in the range of $15-$20.
Polkadot(DOT) Price Prediction
Polkadot(DOT) Price Prediction 2021
Starting from 2021, DOT’s price performance has been showing a positive trend in the market. Since January, it began to soar further. And DOT has begun to sprint towards $50 afterward. On May 15th, it reached its ATH of $49.69. However, after that, with the collective plunge on May 19, DOT also collapsed. Since then, DOT’s price has regained momentum and consolidated gradually. Now that it has returned to the support level of $14.57.
Although Polkadot is a new type of project, it is still one of the fastest trading cryptocurrencies. Hence, DOT is still the choice of many investors. If it can continue to optimize its protocol, investors will be satisfied with a higher transaction rate. Once Polkadot(DOT) overcomes the obstacles brought about by the downturn and bear market, it may set a new high in 2021. Jane Laurens, the analyst of Bexplus, believes that DOT may reach $28.003 by the end of this year.
Polkadot(DOT) Price Prediction 2022-2024
Although Polkadot is an emerging currency, its price is also unstable. However, thanks to the strong leadership team and traders’ trust in decentralized applications, DOT coins’ potential can grow further. Judging from the trend in the first half of 2021, the price performance of DOT is relatively positive. As an eminent project, DOT is still admired by many traders. If the cryptocurrency is committed to strengthening its user base and investors, its price may rise in the coming few years.
As the first parallel blockchain system, it protects multiple blockchains by enabling a common set of validators, thereby providing extraordinary economic scalability. If DOT succeeds in paving the way for global blockchain adoption, its price may surge to $70.322.
Polkadot(DOT) Price Prediction 2025-2030
In the next 5 to 10 years, Polkadot is likely to become one of the most valuable cryptocurrencies. As a strong newcomer, Polkadot has been favored by many entrepreneurs and traders. At present, more than 300 projects have joined the Polkadot ecosystem.
By attaching the parachain to the relay chain, Polkadot productively solves the scalability problem of the blockchain. With the further upgrade of its protocol and higher parachains, DOT tokens’ value may rise further. It may hit a new ATH up to $115.049 in 2025-2030.
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Conclusion: Is Polkadot(DOT) A Good Investment?
As a newcomer, Polkacoin is showing its strong potential. The altcoin has seen good in the first half of 2021. In the second half of 2020, Polkadot has been actively developing its network. Its expanding ecosystem makes it considered a strong competitor to Ethereum, which has attracted many investors. In addition, as one of the prudent alternatives to Bitcoin and Ethereum, Polkadot has lower price entry points. In general, it will be a good investment for the long term.
However, the crypto market is dynamic and volatile. You should do your own research before making an investment.