There has been much to say regarding cryptocurrencies in general, especially Polkadot price and predictions when it comes to not so many commercial cryptocurrencies. Since the pandemic, the world has seen much disruption in fiat currencies, and in such conditions, digital tokens have taken the abnormal face-on.
There are plenty of currencies that took the market by storm: Bitcoin, Ethereum, Dogecoin, Shiba Inu while other currencies took the storm in the newly discussed metaverse such as SAND and MANA. But Polkadot (DOT) has withstood challenges in the market and seems like it is here to stay. What exactly is Polkadot?
Polkadot – Adding More to Blockchains
Polkadot or simply DOT is a project which is reputed to have been established or created to provide value to already provided benefits underlined by blockchain. In order to understand what Polkadot is and Polkadot’s price prediction, we have to dive deeper to get some sense out of it.
Potential Competitor of Ethereum
Polkadot’s main mission is to bring decentralized finance (DeFi) and all of its benefits along with various functionalities to the front along with providing ultimate ease to its users by displaying a user interface designed to be friendly and easy to use.
Developed by Web3 Foundation – a Swiss foundation – it is their flagship project. This ambitious project has brought forth to the world a multiple chain infrastructure and has made it a competitor to another famous cryptocurrency: Ethereum.
DOT brings blockchains on a single network that is unified and combines all of its characteristics to offer more than one solution to its users. Based on the P2P (Peer-to-Peer) network, DOT has immense benefits and value to offer as a pioneer project.
Polkadot can also be defined as offering the security of parachains and relay chains along with providing increases and solid governance. This overall infrastructure platform which provides enhanced functionalities has the added benefit of providing operability and staking.
The Native Token of Polkadot’s Core Purposes
DOT is the native token of Polkadot. Its three main objectives are as follows:
- To provide better governance over its underlying network
- Offers staking
History of Polkadot (DOT)
Initial Coin Offering – ICO – of Polkadot was offered in October of 2017 which is considered a huge success. This successful ICO raised more than an eye-opening $140 million and sold over 10,000,000 DOT circulation.
It should be noted that the DOT per USD amount which was pegged during the ICO was $0.30. But by the third quarter of 2020 the user’s and market purchase pattern and trend brought it to new levels of $6.
But soon after, the Polkadot price was seen being valued at $5.20 and it went downwards since then. In the month of October, the price went downwards from $4.42 in the beginning to $3.86 in the middle. October closed to a price figure of $4.15 and when all hope was seen as going down the hill, the pandemic brought forward unexpected growth.
The coin started its uphill trek and soon was seen in a positive light. The Polkadot price was seen trading at $5.88 the very next month – November and has not looked back since.
Expert Opinion on Polkadot – Forecast
Any volatile coin or asset’s position in the market and its forecast is always a tough question for any investor. Apprehension of any asset’s life and history is well versed by experts, and so are their opinions. Below are some opinions of experts on Polkadot’s apparent future and whether or not to invest in it.
Based on Wallet Investor’s predictions, DOT is expected to increase in the long term. The price till the year 2026 is estimated to be around $400. If investors can pour in money and see the return on investment over a five-year horizon, the return is expected to grow around 850%.
Also citing improvements and return in the long run, GOV capital also promotes DOT and predicts $105 by the end of this year.
The end of the year 2021 will see around an 80% increase and during the year it was already forecasted by Coin Price that DOT would see its price around the range of $45.46. The year 2022 will see DOT and its price more upwards, around $110.
Polkadot Price Prediction
Polkadot currently has a market capitalization of around $41,188,252,452 and its ranking is currently in the top 10 on various cryptocurrency exchanges. If we predict and look over at other predictions and forecasts mentioned above in the article, it would be soon evident that none of these contradict the other.
Polkadot digital tokens would outperform their fellow tokens, on an above-average assumption scenario. It could overtake the expectations of the markets and investors. Predicted market capitalization and price could reply back in a harsh way to pessimists of this currency.
For the years 2021-2022
DOT has gone back and forth in its year of ICO and has soon bounced back on a positive note. It is expected that partnerships and alliances would see DOT coming more forward and it will be a center stage for rivals.
DOT can also transition to its own blockchain, and its price can further escalate to $65. Ethereum’s current market developments may play a major role in this forecast.
For the years 2023-2025
Next year and its end could see a positive bouncing back of DOT and all negative sentiments of investors and critics alike would be waved off. Cryptocurrencies could see more acceptance and regulation and would then bring in a new era of value exchange.
The price which DOT could see could be in between ranges of $70 to $90.
Everyone knows cryptocurrencies and the digital world is very prone to volatility and is very dynamic. Predicting anything in the long term can be a fool’s dream. However, if we predict for investment purposes, DOT would be on a rocket launch to stardom.
Polkadot is expected to shatter any barriers which are there in the present and would peak to above $90 range. Fiat currencies are staggering and looking weak in the new normal, and all Polkadot investors could lead the global exchanges to new horizons.
Polkadot was the first and is the only open protocol, which provides a gateway to inter-blockchain liquidity to all of blockchain’s Defi applications. This unlocking of liquidity and resources to give energy to a new wave of value in the financial world is the core selling proposition of Polkadot.
DOT can be a good investment based on its return opportunities and investment predictions. Strict due diligence is required to invest in any digital currency, but all fingers point towards DOT price reaching $60.
Polkadot can be found on a variety of exchanges around. All eyes on the horizon, but feet on the ground.