Why Am I Bullish on Pokadot DOT coin | TechHarry

Polkadot DOT token price prediction

Polkadot is an open-source sharding multichain protocol that facilitates the cross-chain transfer of any data or asset types, not just tokens, thus making a wide range of blockchains interoperable with each other.

This interoperability seeks to establish a fully decentralized and private web, controlled by its users, and simplify the creation of new applications, institutions, and services.

Polkadot’s native DOT token serves three clear purposes: providing network governance and operations, and creating parachains (parallel chains) by bonding.

Polkadot Summary

CryptocurrencyPolkadot
Ticker SymbolDOT
Price $40.37
Price Change 24h-2.43%
Price Change 7d-13.35%
Market cap$ 42,526,857,023
Circulating Supply987,579,314 DOT
Trading Volume$ 1,528,750,667
All-time high$55
All-time low$2.69
Polkadot ROI+1346.54%

Why am I Being Bullish on Polkadot (DOT) Token

Polkadot's team is working very hard to improve the Polkadot fundamentally. They are upgrading the Polkadot network by applying various experiments on how they can decrease the overall supply so that it can reach its potential. The Parachain auction will be, I think, the best option to achieve the most milestones by the DOT token. Once the Parachain event completes, we'll see a huge spike in the DOT token. And you can also consider that these Parachain Auctions are the main target why I am being bullish on Polkadot (DOT) token.

Polkadot Parachain is a major event that will affect the price a lot. According to Polkadot Network, Parachains are connected to Polkadot by leasing a slot on the relay chain for up to 96 weeks at a time with the option to renew. Parachain slots are assigned by an on-chain auction, with auction winners locking up a bond in DOT for the duration of the lease. Auctions and crowd loans raise the bar for blockchain projects, incentivizing them to demonstrate their technology and gain community support prior to launch.

Also Read: Top Crypto Tokens With more than 100% gain This Week

Effect of Polkadot Parachain Auctions on the Price

Now you know, this Parachain Slot Auction will put DOT tokens at lease for around 94 weeks. The dates of the auction can be seen on the Polkadot Network site. In these Parachain Auctions, lots of DOT tokens will be locked and cannot be retrieved for some time. This will affect the overall price of the DOT token as the supply will be reduced. You will also see DOT tokens overtaking their all-time high price of $55 USD and creating a new all-time high at a much higher price.

What are Polkadot and DOT tokens?

Polkadot is a shared multichain network, meaning it can process many transactions on several chains in parallel (“parachains”). This parallel processing power improves scalability.

Custom blockchains are quick and easy to develop through the Substrate framework and can be connected to Polkadot’s network within minutes. This network is also highly flexible and adaptive, allowing the sharing of information and functionality between participants similar to apps on a smartphone. Polkadot can be automatically upgraded without the need for a fork in order to implement new features or remove bugs.

The network has a highly sophisticated user-driven governance system that also helps to secure it. Communities can customize their blockchain’s governance on Polkadot based on their needs and evolving conditions. Nominators, validators, collators, and fishermen all fulfill various duties to help secure and maintain the network and eradicate bad behavior.

Main Features of Polkadot are:

  • True Interoperability
  • Economic & Transactional Scalability
  • Easy Blockchain Innovation
  • Forkless and Future Proof
  • Security for Everyone
  • User-Driven Network Governance

Transaction Speed of Polkadot

The transaction speed of Polkadot is expectedly quite faster than most of the other cryptos. Polkadot is famous for processing up to 1000 transactions per second. It is also said that the transaction speed of Polkadot is even faster than Ethereum. The transaction speed of Polkadot is approximately 166.666tps (transactions per second) which is around 8.33 times faster than Ethereum. It is also possible that it can reach 1 million TPS (Transactions per Second) in the nearby future of cryptocurrency.

Polkadot (DOT) Price Prediction 2022

You probably understand the importance of Polkadot or DOT tokens in the cryptocurrency world. From the purpose of Polkadot, what price can you expect from Polkadot be in the future?

According to CoinMarketCap price estimates, over 1000 people have estimated that Polkadot will touch the mark of $50 and will trade between $50 - $60 per DOT token. After a month or two, the price will decrease to around $45 again, what it is this time.

Now, talking about what might be the estimated price of Polkadot in 2022. For getting more price of Polkadot, it needs to enlist more and more new tokens & crypto coins on its blockchain network out of Ethereum based enlisting in the major cryptocurrencies. If it is possible, then we can see a big rally from DOT token and there is a great chance for Polkadot to hit around $65 USD in the year 2022.

How Many DOT tokens are there in circulation?

Polkadot currently has an allocation of 1 billion DOT tokens, following the network’s pre-defined max. supply of 100 Billion DOT tokens in April 2020. The redenomination was undertaken purely to avoid the use of small decimals and make the calculation easier. While all balances were increased by a factor of one hundred, this did not impact the distribution of DOT or holders’ proportional share.

Polkadot’s first initial coin offering (ICO) was held in October 2017. The Polkadot price at ICO was $0.29, with 2.24 million tokens offered. The second ICO was held in July 2020, with a Polkadot price per token of $1.25 and 342,080 DOT tokens sold.

Where Can You Buy Polkadot?

Polkadot is mostly available in all the reputed markets in the world. Polkadot can be purchased from Binance, Coinbase, Huobi Global, KuCoin, Kraken, Gate.io, WazirX, Crypto.com Exchange, OKEx, etc. So, these are the best exchanges where you can buy Polkadot. If you are interested in buying more cryptocurrencies but before listing on any big exchange, you can buy cryptos on BitMart or Gate.io exchanges.

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