Polkadot (DOT): Worth, Updates, Newest Developments, Group, Future Occasions from DailyCoin – Investing.com

Polkadot (DOT): price, updates, latest developments, community, future events

  • Polkadot has announced the dates for the next five Parachain auctions on the network
  • The auctions start on September 1st and end on September 29th
  • The DOT has fallen sharply after a bullish breakout hit the token high at $ 29.35 on August 21
  • On September 23rd and 24th, Polkadot founder Gavin Wood will speak about the decentralized future on Unfinished Live

The famous killer Polkadot has received a barrage of good news for his development team. After completing its first Parachain auctions, Polkadot has announced the schedule for the next series. How has the price of DOT reacted?

Polkadot Prize

The price of DOT experiences a significant downturn after a bullish breakout. The downtrend that began to hit the market about 48 hours ago is still ongoing.

In the past 24 hours, the DOT token is down 10.8%, making it the second biggest loser among the top 10 biggest cryptos.

Polkadot (DOT) five-day price chart. Source TradingView.com

DOT is now trading at $ 25.05. The downtrend now means that DOT has a market cap of $ 24.8 billion, the ninth largest of all cryptocurrencies.

The upcoming Parachain auctions on the Polkadot network are expected to give the DOT token some upward momentum. A Twitter (NYSE 🙂 user identified as Edwin Grinner wrote;

I think batch 2 of the Parachain auction on @kusamanetwork is going to be explosive and exciting. My birds are up for auction. And you? $ KSM $ BSX $ KILT

Recent developments and future events

One of the most anticipated developments in the polkadot community is here; Bulk loans. The crowdloan is an on-chain method to help parachain teams increase the token bond required to participate in a parachain slot auction.

The announcement of crowdloans will lead to the next big event in the network. The second batch of the Parachain auction is an event between Polkadot and Kusama, where members of the community vote for projects that intend to build on one of the blockchains.

The first batch of 5 Parachain slot auctions on Kusama was successfully completed in June and July. Karura, Moonriver, Shiden, Khala and Bifrost emerged as the winners of the Parachain auction. Kasuma has announced the dates for the following five auctions as;

  • Auction 6th – 1st September 2021
  • Auction September 7th – 8th, 2021
  • Auction September 8-15, 2021
  • Auction September 9-22, 2021
  • Auction September 10-29, 2021

The DailyCoin team found a lot of enthusiasm in the Polkadot community about the upcoming Parachain auction. A Twitter user identified as Cryptunix wrote;

“There’s a BIG chance that most people don’t even know about the upcoming Kusama and Polkadot Parachain auctions. Let alone understand its mechanisms and how it affects the $ KSM and $ DOT price. Parachain auctions are basically the mother of all ICOs / IDOs. ”Another ardent supporter of Polkadot, Jame Wo, believes so

“Participating in the Polkadot & Kusama Parachain auction could be the best way to invest!” On September 23rd and 24th, Polkadot founder Gavin Wood will be featured on Unfinished Live. There Wood will join Parity Technologies and the Web3Foundation to discuss a decentralized future and “how new technologies can fulfill the promise of a decentralized web”.

On the downside

  • Despite the tremendous advances made by the Polkadot ecosystem that made it the ninth largest cryptocurrency, members of the Polkadot community still believe the project is undervalued
  • This year, DOT is up more than 270%
  • Members of the community believe that after the auction, DOT will surpass $ 40 for a new 3-month high

Polkadot (DOT) Price: Technical Analysis

After its July low, Polkadot made price movements that we have not seen in the token for a long time. After dipping as low as $ 10.42 on July 20, DOT tokens saw a 185% gain – their high on August 21.

The highest value recorded for the DOT token was $ 29.35. In the 32-day period, the bullish momentum was only interrupted by seven negative days, with only one day exceeding -4%.

The daily chart of DOT shows the sharp rise from July 20th: Source Binance

This drop in price has caused the DOT to fall below the 70.5% Fibonacci retracement level at $ 25.06. If selling pressures push DOT below the $ 24.08 support level, we could see the price of Polkadot retest the range lows at $ 23.25.

The 4H diagram from DOT: Source Binance

For the bulls to step in, we need to close a crucial 4H candle above $ 25.06. If so, Polkadot is ready to retest the 50% Fibonacci retracement level at $ 26.32.

For now, we’ll have to wait until price action gives us more clues as to whether the bulls are holding onto their quick-earned gains or bravely adding more.

The polka community

Polkadot remains one of the most heavily community-involved blockchain projects. Recently, DOT holders voted to increase the number of validators from 300 to 399. However, not enough votes were collected to pass.

In relation to the upcoming auction, a passionate polkadot devotee, identified as Peggy Dowell, wrote;

The cool thing about #Kusama and #Polkadot is that they can each use a candle auction format to assign #parachain slots. There are many good sources that explain how this mechanism works in practice

Why should you care?

Since the introduction of Polkadot, it has been a popular altcoin for many users due to its growth. There are currently over 480 projects that build on the Polkadot blockchain and highlight the efficiency of the network. In addition, the upcoming Parachain auction is expected to add significant features to Polkadot and give DOT a price boost.

EMAIL NEWSLETTER

Join in to learn the downside of crypto

Update your inbox and receive tips from our DailyCoin editors straight to your inbox once a week.

[contact-form-7]

You can unsubscribe at any time with just 1 click.

Read on on DailyCoin


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

The 5 Finest Altcoins To Purchase Now For Future Income – Goodreturns Polkadot

The 5 Finest Altcoins To Purchase Now For Future Income – Goodreturns

The 5 Best Altcoins To Buy Now For Future Profits Cryptocurrency symbol Last traded...

By wpadminsonic164
Polkadot

Polka Dot Zebra Tira again within the Serengeti – The Citizen

By Paul Owere Serengeti. Two years ago, the spotted zebra Tira caught the attention...

By wpadminsonic164
Sophie Ellis-Bextor wows in a black and white polka dot mini costume as she performs on the occasion – Each day Mail Polkadot

Sophie Ellis-Bextor wows in a black and white polka dot mini costume as she performs on the occasion – Each day Mail

She entertained the nation with her Kitchen Discos during the Covid crisis. And Sophie...

By wpadminsonic164
Kriti Sanon in a polka dot midi costume regarded just like the prettiest princess of all time;  Sure or no?  – PINK VILLA Polkadot

Kriti Sanon in a polka dot midi costume regarded just like the prettiest princess of all time; Sure or no? – PINK VILLA

We all have this one favorite restaurant that puts us in a puzzling mood...

By wpadminsonic164
Rachael Leigh Prepare dinner stuns on the premiere of He is All That … the gender swap remake of She’s All That – Each day Mail Polkadot

Rachael Leigh Prepare dinner stuns on the premiere of He is All That … the gender swap remake of She’s All That – Each day Mail

Rachael Leigh Cook starred Laney Boggs, along with Freddie Prinze Jr., Zack Siler in...

By wpadminsonic164
Polkadot

The 5 greatest DeFi cash for September – BeInCrypto

A look at five tokens from the decentralized financial sector (DeFi) with interesting developments...

By wpadminsonic164
Dua Lipa wears a navy polka dot pant swimsuit and lace bra to rejoice her twenty sixth birthday – HarpersBAZAAR.com Polkadot

Dua Lipa wears a navy polka dot pant swimsuit and lace bra to rejoice her twenty sixth birthday – HarpersBAZAAR.com

Dua Lipa celebrated her 26th birthday in style.The pop star shared pictures from her...

By wpadminsonic164
How you can Gown Up Like an Grownup With Shane Watson: Change Your Spots to Outsized Polka Dots – Every day Mail Polkadot

How you can Gown Up Like an Grownup With Shane Watson: Change Your Spots to Outsized Polka Dots – Every day Mail

If you come across the video of the fall / winter collection while browsing...

By wpadminsonic164

Latest Posts

Uncategorized

Noboni.com: Best Girl’s Online Shopping in bd

Noboni.com is the best Bd online shopping for girls. We 🏷️ offer the latest...

By wpadminsonic164
Monero, Stellar, AAVE Value Evaluation: August twenty second – AMBCrypto Information Stellar

Monero, Stellar, AAVE Value Evaluation: August twenty second – AMBCrypto Information

Major cryptocurrencies have shown mixed trading so far, with Bitcoin reversing its losses by...

By wpadminsonic164
BITCOIN CRASH (essential add)!! MY NEW STRATEGY, BITCOIN PRICE PREDICTION & BITCOIN NEWS TODAY!! Videos

BITCOIN CRASH (essential add)!! MY NEW STRATEGY, BITCOIN PRICE PREDICTION & BITCOIN NEWS TODAY!!

BITCOIN CRASH (important upload)!! MY NEW STRATEGY, BITCOIN PRICE PREDICTION & BITCOIN NEWS TODAY!!...

By wpadminsonic164
Binance allegedly seeks authorities funding underneath regulatory strain, focusing on $ 200 billion valuation – Yahoo Finance Binance

Binance allegedly seeks authorities funding underneath regulatory strain, focusing on $ 200 billion valuation – Yahoo Finance

The world's leading cryptocurrency exchange Binance seeks government funding despite being in the crosshairs...

By wpadminsonic164
Bexplus lists Cardano (ADA), provides 100x leverage and 100% deposit bonus – CryptoGlobe Cardano

Bexplus lists Cardano (ADA), provides 100x leverage and 100% deposit bonus – CryptoGlobe

In order to do justice to the fast growing market for Cardano ($ ADA),...

By wpadminsonic164
Ethereum’s EIP-1559 improve burned $ 400 million in ETH: report Ethereum

Ethereum’s EIP-1559 improve burned $ 400 million in ETH: report

Ethereum's EIP-1559 upgrade burned $ 400 million in ETH instead of handing it over...

By wpadminsonic164
Dogecoin

Why Bitcoin, Dogecoin, Ethereum – and in addition Coinbase – are on the transfer at this time – Motley Idiot

What happened Towards the end of the week, cryptocurrency prices in Friday morning trading...

By wpadminsonic164
The transition between fiat and bitcoin Bitcoin

The transition between fiat and bitcoin

One world, two systems: Why Bitcoin and Fiat have to learn to live togetherTwo...

By wpadminsonic164