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Polkadot (DOT) on the up – new all-time high in sight? –

At Polkadot (DOT) there is a lot of good news and the price curve shows a positive dynamic with 30 percent plus in the past seven days. Experts believe that a new all-time high will soon be possible.

In the last few days there were new all-time highs at Cardanao (ADA) and Solana (SOL), which dominated the news about the TOP 10 of the financially strongest Altcoins. But Polkadot (DOT) should not be underestimated at this club either. Polkadot is currently trading at a good 35 US dollars and has made a good 30 percent plus in the past seven days. The specific background for the positive trend at DOT suggests that there are chances that Polkadot will soon climb a new all-time high.

1. So-called parachains are believed to play a fundamental role in the Polkadot ecosystem. These parachains are currently being tested at Kusama (KSM). Kusama is known as DOT’s “wild cousin” because the code is the same as that of Polkadot. This makes Kusama something like a testnet for polkadot. The parachains at Kusama are auctioned and then offer capacities for external crypto projects. Since both the technology at the Kusama Parachains and the mechanism for the auctions work well, the launch of the Parachains at Polkadot is expected soon.

2. The number of crypto projects docked with Polkadot is growing steadily, as shown by the data from PolkaProject. With Parachains at Polkadot, the ecosystem should continue to expand and also offer new technological possibilities. Ultimately, this should lead to increased demand for DOT and thus also to rising prices.

3. Daily trading volumes with DOT are again approaching the level of May 2021, when Polkadot hit its all-time high of just under $ 50. Behind this development are probably also investors who want to stock up on DOT before the auctions for Parachains at Polkadot start.

Conclusion: Polkadot blooms in the shade of Cardano and Solana

If you as an investor want to diversify your strategy, it is advisable not to forget about Polkadot. Because at DOT it is often underestimated how targeting the Chinese market positively supports pricing. At Cardano (ADA), September 12th is the next scheduled date for the Alonzo upgrade. At Solana (SOL), some analysts already fear that the price curve will overheat. Polkadot seems a realistic candidate for writing the next success story with an all-time high among the most important altcoins.

You can buy Polkadot (DOT) from Binance. If you don’t have a Binance account yet, you can set up one here and save 10% fees, you can find out everything you need to know here.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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