Polkadot price To $100 – Polkadot DOT Coin Price Prediction 2021 – Why it will $100 thia month ?

Polkadot price soars 37% after coinbase pro
DOT listing, first parachain auction Polkadot emerged as one of the best-performing
tokens week-to-date as traders' focus shifted on DOT's listing at Coinbase Pro and Kusama's
first-ever parachain auction, set to go live on Tuesday. Polkadot (DOT) witnessed massive upside moves
in the previous daily sessions as traders assessed the cryptocurrency's entry into the
United States-based digital assets trading platform, Coinbase Pro, and the upcoming auctioning
of parachain slots atop Polkadot network's testbed version, Kusama, this Tuesday.

The DOT/USD exchange rate reached $26.44 during
the Monday session, following a roughly 37% upside move that started in the previous daily
session. Nevertheless, entering the Asia-Pacific and
Europea trading hours on Tuesday, the pair corrected lower by more than 4.5%, hitting
an intraday low of $24.25. DOT Polkadot pulls back after testing technical
resistance near $26.668. Source: TradingView Initial upside moves in the Polkadot market
surfaced in the wake of the Bitcoin (BTC) price rally on Sunday. Billionaire investor Elon Musk on Sunday commented
that he would reinstate accepting Bitcoin payments for Tesla’s electric vehicles if
the cryptocurrency's fresh supply comes from power supplied by renewables.

The BTC/USD exchange rate jumped from as low
as $34,780 to above $40,000 after Musk's comments. Meanwhile, top altcoins, which heavily tail
Bitcoin trends, followed suit, taking DOT prices higher alongside. Nevertheless, the scale at which the Polkadot
token rose dwarfed the retracement rallies of most of its top crypto rivals. DOT's heightened move uphill coincided with
Coinbase Pro's announcement of adding DOT-enabled trading instruments to its platform.

Kusama parachain auction
More bullish cues for traders came from Parallel Finance. The startup raised $2 million to onramp its
lending and staking features on the Polkadot and Kusama blockchains. In retrospect, Kusama works as a sandbox for
projects with aspirations to launch a parachain on Polkadot. Therefore, the testbed blockchain comes with
real economic benefits and consequences, enabling other blockchains and apps to launch with
forkless upgrades, governance structure, and scalability. That said, projects harness Kusama's inter-parachain
network to communicate with other apps having their separate parachains. But to win a parachain slot projects like
Parallel Finance must participate in a parachain auction. In doing so, they would need to submit the
bid amount (in DOT or Kusama's native token KSM) alongside the slot duration (6 to 24
months). That expects to effectively lock away DOT
and KSM tokens for the duration of the slot, thereby reducing the tokens' circulating supply. Meanwhile, observers believe that DOT and
KSM's demand would keep on rising based on their competitive auctioning process. Projects who win a parachain auction will
do a lot to provide value to their community and backers, according to Alex Siman, the
founder of Subsocial, a Polkadot-based decentralized social network.

"On the Polkadot parachain, the slots for
projects to build on the chain is limited to 100, making the auction process notably
competitive," he explained. "A non-innovative project may not be able
to win such auctions, and those who do will not want to waste the opportunity to go down
in history. The first parachain auction went live on the
Kusama network around 1100 GMT on Tuesday. KSM fell by 2.77% in the early European trading
session. On the other hand, Polkadot has still to announce
the auctioning of its parachain slots. Mira Christanto, a researcher at crypto data
analytics firm Messari, noted that 65% of DOT's active supply has already been staked
since May. Only 30% of DOT now remain in circulation—and
the upcoming parachain auction would take more of those tokens out of supply.

"After the parachain launch, 40% of DOT could
be bonded in parachains, hence reducing effective circulating supply to only 15%," she added. Subscribe channel affiliate cambodia thank you!.

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