$DOT/USDT is a token of platform Polkadot. Its current price is around $31.38 by the time of writing, was at $4.95 at the start of 2021, and has a market cap of 31 billion dollars.
What is Polkadot?
Polkadot is an interoperable platform for blockchains built on a technology called Parachains and Parathreads. Gavin Wood founded it in 2016. Polkadot combines security with the convenience and flexibility of proof-of-stake (POS). PolkaDot aims to solve scalability issues by connecting people worldwide into a single blockchain. In doing so, PolkaDot empowers users to create their unique blockchains without compromising on security or performance.
Polkadot is a new, heterogeneous blockchain protocol. It is designed to provide an Infrastructure for a global decentralized web. It can create public, private, or consortium chains that share a token and security model. In addition, it can connect blockchains while allowing them to run independently.
Polkadot provides an on-chain governance mechanism for changes to the protocol, making it more adaptive than Bitcoin or Ethereum, which are hard-forking periodically to introduce new features or correct bugs.
What is DOT?
$DOT/USDT is the coin of the Polkadot platform, which is around $31.38 by the time of writing which was at $4.95 at the start of 2021. Its current ranking is #10 according to CoinMarketCap, with a market cap of 31 billion dollars.
It reached a high of $55 in 2021 with a low of $4.95. DOT coin aims to be an open-source and decentralized cryptocurrency, enabling safe and secure transactions and offering complete anonymity. In addition, it provides a permissionless platform for the global crypto community.
DOT Coin Market Analysis
The main reason behind the pump of $DOT coin is the announcement that Polkadot Parachain will be auctioning DOT coin. This may serve as a possible reason for future gains. It has a total supply of 1,103,303,471 coins worth around $31.38 with a market volume of 1.7 billion dollars, whereas the market capitalization is 31 billion dollars at the time of writing.
DOT Price Prediction
On the 8H timeframe, Its price shows a breakout of the falling wedge pattern, indicating strong bullish momentum, which gave it a rise of around 25% in the last seven days.
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Nothing in this article is financial advice, and you should only invest in the market you believe is suitable for your portfolio.