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Polkadot - the rising altcoin for your portfolio

Botsfolio

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21 Jun, 2021

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The crypto space is a multi-chain universe with the presence of over a thousand specialized public blockchain. However, they have problems talking to each other and thus interoperability has been a major hindrance in this space, rendering the crypto market look even more fragmented than it actually is.

What is Polkadot?

Polkadot, with its unique approach, comes to the rescue as a platform that allows diverse blockchain to transfer messages, including value, in a trust-free fashion; sharing their unique features while pooling their security. In brief, Polkadot is a scalable heterogeneous multi-chain technology. Polkadot is heterogeneous because it is entirely flexible and makes no assumption about the nature or structure of the chains in the network.

Polkadot Price Analysis

Source Santiment, twitter

According to a recent analysis by Santiment, Polkadot has been decoupling from the crypto markets, due to the development activity taking place in its ecosystem. Additionally, a host of other happenings in the space has kept DOT in the news lately. This has enabled its recent 20% growth in value performance.

 tradingview

Coinbase Listing Boost

Coinbase’s pro trading platform recently added DOT, the native currency of the Polkadot blockchain on their network. For a brief period, Polkadot’s native token did witness a price surge, but couldn’t sustain the same for long. What’s more, over 65% of DOT’s active supply has already been staked since May and only 30% of DOT now remains in circulation.

Looking at the big picture, Polkadot has been steadily growing and is expected to grow further in the near future. According to DigitalCoinPrice, DOT’s price is set to rise by the beginning of 2022. Its price in January ’22 would breach the $40 mark and is likely to be a “profitable investment” based on their forecast.

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