This is the reason why the market demand for Polkadot is growing at an alarming pace. This is why people are showing interest in Polkadot Price Prediction. They want to get an idea about the future of Polkadot.
If you are one of them and want to know whether to invest in Polkadot or how to make money from DOT tokens, this resolute dossier is for you.
Polkadot Price Analysis
The Polkadot foundation organized a profitable ICO back in October 2017. They raised around 140 million dollars and sold about half of their stocks. Then the company faces some losses that force it to carry out two sales rounds in the years 2019 and 2020.
During the days of ICO, the value of the single DOT was around $30. But DOT holdings were revived in August 2020. This brought a change in which $100 new coins for $6 each were offered to users who go for purchasing a $30 coin. This brings the average price for a single coin to around $600.
So the journey of Dot-token started from $6 but fell later to $2.81. However, many tokens were provided at a later stage that brought the market capitalization from 0 to about $5 billion in a day. This is the reason for its being in the list of top 10 in the Crypto marketplace.
Polkadot Market Position
The market cap of Polkadot as of September 2021 is around $32 billion. This makes it the 9th biggest cryptocurrency according to CoinMarketCap. The current value of a single DOT token is about $30.
Market cap is one of the crucial factors when it comes to establishing the actual market value of a network’s circulating token supply. Here you need to know that the asset is inconsequential. So you need not focus much on it. It is the market cap that reveals the risk of an asset’s investment. It will let you know whether there is room for the project to grow.
Moreover, the higher the market cap, the more will be the liquidity for investors. This will allow you to cash out quickly.
Coming back to Polkadot, it continues to onboard projects onto its network. Liechtenstein Cryptoassets Exchange (LCX), a Fintech company has recently chosen to leverage the Polkadot network for the advancement of its security token standards. It is further bringing its DeFi terminal Fire Salamander to Polkadot. If we talk about Fire Salamander, it is a decentralized exchange (DEX) aggregator. It is currently running on Ethereum.
Now what’s going to happen is, LCX is going to propel Fire Salamander. It is going to expand the system by building on top of Polkadot’s para chain technology.
Even Polkadot’s mid-level market cap indicates that there is room for its growth especially when it comes to comparison with Ethereum’s $450 billion and Cardano’s $90 billion market cap.
If we go with the analysts, the potential capacity for Polkadot to increase in value can’t be ignored. The Crypto ecosystem or Polkadot ecosystem in specific is forecasted to grow exponentially. This is going to raise the price of the DOT token.
How Best to Make Money from Dot Tokens
Now you must have got an idea about the future of Polkadot and how investing in it can lead to profit. Another way to make money from Polkadot is by betting and playing your favorite casino. You can also go for slot games through the token.
Moreover, Polkadot has become one of the 33 supported cryptocurrencies on 1XBit. This means you can select it as a mode of payment and withdrawal. It is going to provide you an amazing way to gain from the value increase of Polkadot.
On the other hand, 1XBit provides you with a simple user interface. This secure and rewarding platform makes it easy to stake on your favorite games with Polkadot. It also provides you with 100% anonymity and that too with no KYC requirement.
The potential and importance of the Polkadot can’t be ignored. The investment in it will be worth it. It has remained successful in making it to the top 10 rankings. Moreover, the predictions from experts further signify the future that it holds for you. But make sure you take pros and cons into account before making a final decision as crypto is known for its volatility. You can also go with CrypTalks for more clarity. Moreover, the Polkadot price predictions are the result of technical analysis so it is good to use wisdom too.