At Polkadot (DOT) there are various good news and the price curve shows a positive dynamic with 30 percent plus in the past seven days. Experts consider a new all-time high possible soon.
In the last few days, it was new all-time highs in Cardanao (ADA) and Solana (SOL) that dominated the news about the TOP 10 most capitalized altcoins. But in this club, Polkadot (DOT) should not be underestimated either. Polkadot is currently trading at just over 35 US dollars and has thus gained a good 30 percent in the past seven days. The specific reasons for the positive trend at DOT indicate that there is a chance that Polkadot will soon reach a new all-time high.
1. In the ecosystem of Polkadot so-called Parachains are supposed to play a fundamental role. These parachains are currently already being tested at Kusama (KSM). Kusama is called the “wild cousin” of DOT because the code is the same as Polkadot. Thus, Kusama is something of a testnet for Polkadot. The parachains at Kusama are auctioned off and then bid for capacity for external crypto projects. Since both technology at Kusama Parachains and the mechanism for the auctions work well, the launch of Parachains at Polkadot is expected soon.
2. The number of crypto projects docking at Polkadot is growing steadily, as shown for example by data from PolkaProject. With parachains at Polkadot, the ecosystem should continue to expand and also offer new opportunities technologically. The bottom line is that this should lead to increased demand for DOT, and thus to rising prices.
3. Daily trading volumes in DOT are again approaching the level of May 2021, when Polkadot marked its previous all-time high of just under USD 50. Investors looking to stock up on DOT before Polkadot’s parachain auctions start are likely behind this development.
Conclusion: Polkadot flourishes in the shadow of Cardano and Solana
If you’re an investor looking to diversify your strategy, it’s a good idea not to forget Polkadot. This is because it is often underestimated with DOT how targeting the Chinese market positively supports price discovery. At Cardano (ADA), the planned date for the Alonzo upgrade is September 12, the next deadline. At Solana (SOL), some analysts already fear the price curve is overheating. Thus, Polkadot seems to be a realistic candidate for writing the next success story among the most important altcoins, including an all-time high.