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Tag: Polkadot

Polkadot (DOT) Starting to Lead Web3 with Parachain Auctions

The Polkadot (DOT) network’s developer, Gavin Wood, claims that the cryptocurrency allows users to engage without having to trust each other. Polkadot’s para chain auctions are seen as a trigger for the altcoin’s price in the decentralized Web3 ecosystem.

Be that as it may, since its introduction to the world in 2015, Ethereum has recently unfit to change rapidly to the point of staying aware of the speed. Exchange charges for decentralized applications (DApps) have been restrictively costly, while exchange speeds have been restrictively languid. Wood left the Ethereum project in 2016 to foster Polkadot (DOT), a stage for a decentralized Web3.

The blockchain of blockchains is wrapping up an exceptional year that started with the introduction of Kusama, its canary organization, with a progression of para chain auctions that are acquiring footing. “Expect Chaos,” says Kusama. Thinking back, it’s obvious that the organization’s expected choppiness during its para-chain auctions gave the preparation to a strong Polkadot (DOT) establishment and, ultimately, a decentralized Web3 before long.

Polkadot developer Gavin Wood, a co-founder of Ethereum, claims that Polkadot enables trustless interaction between users, enabling Web3 by linking blockchains. Polkadot systems are distinguished by their decentralized and distributed network structures.

Polkadot, Ethereum’s challenger, is paving the way in the Web3 ecosystem, establishing the basis for a genuinely open internet. Polkadot’s para chain auction has linked numerous blockchains in the DOT ecosystem, allowing decentralized projects to join.

Corporations and institutions, on the other hand, find it difficult to trust one another while utilizing Polkadot or blockchains linked by the DOT ecosystem.

Ethereum has failed to change at the same rate as Polkadot, resulting in high transaction costs and slow performance. Analysts foresaw a recent decline rebound and saw Parachain auctions as a trigger for the Polkadot price bounce.

Furthermore, the absence of technical concerns during the para-chain auctions fueled Polkadot’s preparation for its own auctions. Polkadot’s success is clearly dependent on a slow rollout, with the total number of para chains aboard to Polkadot not reaching 75 percent of those operating on Kusama in an effort to prioritize quality over quantity. Polkadot’s future is unquestionably bright thanks to Kusama’s success.

Polkadot prices have dropped by 17% in the last week. Analysts think the alleged “Ethereum-killer” is on pace to recoup its losses, and the price might rise to a $21 objective.

Analysts believe that if the trend reverses, bulls might boost the Polkadot price above $22. The greatest possible upside is restricted at $30.

February 16, 2022
Polkadot (DOT) – How can the Price React Now?

Moving on to the technical analysis for DOT, we will start from the weekly time frame, the price of DOT has very correctively approached the weekly time frame, and has been rejected off it. It has also made a famous pattern called head and shoulder and price has almost completed that. Now when these famous patterns are formed, they are very likely manipulated. A head and shoulder pattern according to the textbook shows bearish intention, so the majority would be expected a sell of this but as mentioned before, the institution tends to manipulate such patterns, so it’s very likely that they might push the price of DOT towards the upside and take out the liquidity and then depending on the condition, the next move of the price can be anticipated.

Moving down one Time frame, which is the daily time frame, the price is very clearly breaking structures to the downside, so this makes the order flow bearish. Now if we observe, after every Lower Low, the price is making Lower Highs and recently the price has just made a lower low so now according to the market structure, the next lower high can be anticipated which is to the upside so this gives a bullish bias again.

Lower Time Frame – DOT

Now moving down to the 4 Hour time frame, the price within the structural range has shown some great confluences which overall shows that price may push to the upside. First talking about the structure, the price was pushing to the downside, but recently the price took out the sell-side liquidity and showed the change of character which according to Wyckoff shows bullish intentions. Now moreover the price to both sides created liquidity. The top side was recently cleared but the downside still remains intact, and it’s very possible that after taking out the below liquidity, it might push to the upside. Now talking about the targets, the order block which is at $22.03 remains unmitigated, which may drive the price upwards.

Moreover, as there was some inducement and imbalance as well just below that order block, it’s very likely that that order block might hold or price may even react to it for some time. The first order block should be around $20.72 as that’s equal to highs and the price may stop hunt and fall. Talking about the invalidation point, in case if price violates the structural low, this whole scenario would get invalidated and other biases should have opted.

February 4, 2022
Polkadot (DOT) – Where will it move Now

According to coinmarketcap, the total supply of DOT is around 1.1B DOT and around 987M of the DOT are in circulation at the moment. It holds the 10th rank according to market cap and has a market dominance of about 0.10%.

At the time of writing DOT is being traded at the price of $25.05 with a decrease of almost 9% in the last 24 hours. The maximum and minimum today are $27.70 and $24.78 respectively. The daily trading volume has also decreased by almost 16.73%. DOT had created its ATH in November 2021 and reached a price of almost $55.05. The price during the crash dropped down to a price of almost $10.37 in the month of July 2021. Overall the price is moving for higher highs. In November, we saw a decrease of almost 11%. This month, we have seen a decrease of almost 34%.

Technical Analysis – Polkadot (DOT)

DOT at one point had been highly talked about. During the news of Parachain auctions DOT had been printing higher highs and eventually achieved all time high.

It can be seen on the chart that DOT had shown a reversal in the structure and soon started to fall down making lower lows and lower highs. The price had been following and respecting the trend line from where it had rejected from many times. Now the price is at the make or break point.

The price can try to touch the trend line again from where we can expect a reaction from the price. If the price gets rejected from there we can look for a lower low and eventually at a low price level. If the price becomes stable above the trend line and gives a valid retest we can look for a reversal in the price and eventually a shift in the structure which would lead to the first target of $38.

Price Prediction – Polkadot (DOT)

DOT is a good investment and is going to provide great returns. Wallet investor considers DOT to be a really good investment as well. According to them, in a year the price is expected to reach a value of $55.340. In five years the price is expected to reach a value of $161.378. Traders on the other hand are very bullish on the price and think that it wouldn’t be long before DOT moves up to create a new ATH.

December 17, 2021
Polkadot (DOT) coin long-term price prediction at $56

Polkadot (DOT) has been bearish ever since the establishment of its all-time high. However, the bearish momentum has slowed down in the recent timeframes. Although Polkadot is still moving downwards, it appears to be entering a consolidation phase with decreased bearish divergence. At the time of writing, Polkadot stands at a price level of $12.12. The price has stayed relatively stable in the daily timeframe with only a slight decrease of 3%. The daily trading volume has also decreased by 6%.

Polkadot (DOT) technical analysis

The market outlook for the cryptocurrency continues to be bearish. Out of the total twenty-six technical indicators, fifteen are giving out a bearish indication of sell with nine standing at a neutral position and only two indications at buy. The oscillators have turned neutral while the moving averages continue to be strongly bearish.

Polkadot (DOT) technical analysis

Polkadot (DOT) had formed a confluence of its up and down trend. In the shorter timeframes, the cryptocurrency is trying to reach upwards although the bears still dominate the market and upward trajectories cannot be sustained. If the current somewhat consolidation period results in the dominance of bulls, the immediate resistance levels will lie at the price level of $12.57 followed by $13.01. However, it is more likely for the cryptocurrency to continue moving downwards. The price level at $10.44 will act as a strong support level for the cryptocurrency.

Polkadot long-term price prediction

Although the cryptocurrency is bearish in the shorter timeframes, Polkadot focuses on the interoperability of blockchains – a proposition that is becoming more and more relevant to the blockchain space – which may result in a price explosion of Polkadot in the longer timeframes. The long-term price projections are; hence, bullish for Polkadot. Per the estimates of Wallet Investor, the one-year price prediction for Polkadot is at $56. Digital Coin Price predicts the same price level of $56 for Polkadot but for the year 2028.

July 19, 2021
Kusama (KSM) coin towards $500 as parachain auction nears?

Kusama (KSM) is on an uptrend since the establishment of its market crash low. The cryptocurrency is soaring high partly due to the parachain auction to be held soon on the network. At the time of writing, Kusama coin stands at a price level of $422. The price has increased by 5% in the past twenty-four hours while the daily trading volume has declined by 5%.

Kusama (KSM) Technical Analysis

The market sentiment for Kusama (KSM) is bullish. Out of the twenty-six technical indicators, fifteen are giving out a signal of buy with nine standing at a neutral position and only two indications of sell. Both the oscillators and moving averages are bullish.

Kusama (KSM) technical analysis

Kusama coin is highly bullish even though the larger crypto market remains bearish or neutral. In the shorter timeframes, Kusama is moving downwards but the cryptocurrency can find strong support at $380. The analysis suggests that the bulls may soon overtake the cryptocurrency. A major chunk of the technical as well as the fundamentals suggest Kusama to reach higher and break the resistance level at $500. If the price target of $500 is broken, the next potential target at $645 will be activated.

Kusama (KSM) parachain auction

Kusama has been soaring high as the cryptocurrency nears its parachain auction. Kusama and Polkadot, together, are taking the integrability of the blockchain space to the next level. Both the blockchains will connect 100 parachains into Polkadot’s central Relay Chain. However, with a limited number of parachain being facilitated, parachains will be chosen via an auction. With bids touching the sky, the parachain launch will mean sky-high process for KSM and DOT. Karura Network has raised $100 million in a crowd fund to bid on the auction.

June 14, 2021
Polkadot (DOT) lagging in bullish momentum

Polkadot (DOT) can be observed to be trying to get on an uptrend. As the dust settles, the cryptocurrency market is slowly recovering. Most cryptocurrencies in the top hundred have turned green for a sustained period of time after a brutal crash that shocked everyone. Polkadot’s growth in the past twenty-four hours is a mere 2%; however, the fact that the cryptocurrency has embarked on a somewhat of an uptrend is more important. The daily trading volume of the cryptocurrency has declined by 24%. Ranked ninth in terms of market capitalization, Polkadot’s market dominance is at 1.25%.

Polkadot (DOT) Technical Analysis

Despite the bullish move, the market sentiment for Polkadot largely remains bearish. Polkadot has been lagging in bullish momentum ever since the market started to recover where other cryptocurrencies have been zealously on the upside move. Out of the twenty-six technical indicators, fourteen are giving out a signal of sell, ten stand at a neutral position while two indicators suggest buy.

Polkadot (DOT) Technical Analysis

Polkadot (Dot) has been identified by a trader to be operating in a triangle formation. The cryptocurrency broke from the formation to the upside a few days ago amidst bullish divergence; however, the upside momentum cannot be sustained as the cryptocurrency got rejected at the resistance level. Ever since Polkadot has been oscillating in the formation. The price is on a downtrend, at the time of writing.

Decentralized data feeds now on Polkadot (DOT)

API3 – a decentralized API provider – has announced to integrate with Moonbeam – the platform which facilitates the process of the Ethereum application’s compatibility with the Polkadot blockchain. Moonbeam is a smart contract platform through which users can employ Ethereum on Substrate and Ethereum developers can also develop their decentralized apps. Moonbeam has cross-chain operability with Polkadot. The integration of API3 and Moonbeam will bring decentralized APIs to Polkadot.

May 31, 2021
Kusama (KSM) coin renewed bullish momentum

Kusama (KSM) peaked at $594 in the bull run. As the crypto market crashes, Kusama coin fell to a low of $262. However, as the market cooled down KSM crypto began showing signs of bullish movement again. At the time of writing, Kusama stands at a price level of $339. The price of the cryptocurrency has been going upwards in the past twenty-four hours while the daily trading volume has declined by 20%.

Kusama (KSM) Technical Analysis

Despite the slightly bullish moment, the market sentiment for Kusama is largely bearish. Out of the twenty-six technical indicators thirteen are giving out a sell signal, nine are standing at a neutral position while only four are indicating towards buy. The oscillators are majorly neutral while the moving averages are bearish.

Kusama (KSM) Technical Analysis

Kusama (KSM) is identified to be still operating in an upward channel formation in the longer timeframes. The cryptocurrency broke out of the channel to the upside during the peak of the bull run but has stayed inside the channel since August 2020. The brutal market correction also did not result in a downside break out – hinting the lower boundary to be acting as a strong support.

What is Kusama (KSM)?

Kusama is cited as Polkadot’s “Wild Cousin”. The Kusama blockchain runs in parallel with Polkadot’s like a parachain would but it is not a parachain. It is Polkadot’s canary network and serves as a testing ground for projects that are to be deployed on Polkadot.

Kusama and Polkadot are launching their parachain auction which is also the last phase of the Polkadot blockchain. Parachains are layer-1 solutions that will run in parallel will Polkadot and Kusama. The parachain auction is a hallmark step in the interoperability of blockchains and may push both the networks ahead.

May 26, 2021
Polkadot (DOT): Partnering its way towards its vision

With its all-time high at $41, Polkadot (DOT) coin is facing major resistance at the price level of $40. Ever since the establishment of the all-time high level, Polkadot crypto has tried numerous times to break the resistance but had been unsuccessful every time. During the 24-hour timeframe, the cryptocurrency topped at $38 and with some major fluctuations went as low as $35. At the time of writing, the Polkadot coin has stabilized at the price level of $37.

The market sentiment for Polkadot coin continues to be bullish. Ten of the technical indicators stand at a neutral position while fourteen are giving out a signal of buy and only two are at sell position. The market is dominated by buyers as the positive future outlook for the cryptocurrency continues. Where the oscillators are bearish, the Moving Averages are giving out a strong buy indication.

A step closer to its vision

The vision of Polkadot is to facilitate the interoperability and interconnectivity between block chains. The organization believes that no single block chain is the solution and every block chain has a unique offering which is why it is crucial for all the block chains to work together towards the multichain future.

Polkadot recently revealed that it has entered into a partnership with six distinct protocols to work towards its goal. The protocols include: Interlay, Darwinia, Snowfork, ChainX, Centrifuge, Bitfrost. The end goal of the project is to increase the inter-blockchain compatibility. From building bridges from Ethereum and Bitcoin to Polkadot, to cross-chain tokens and NFTs, the project is destined to take Polkadot to the next level.

Polkadot is the project of Web3 Foundation – a Swiss firm working towards a user-friendly decentralized web. With keeping its goals in mind, all the bridges are completely decentralized and trustless.

Polkadot (DOT) addition to Bybit

Bybit – the leading derivatives trading exchange – has now added Polkadot cryptocurrency to its platform along with Uniswap and Cardano. The users of the platform will now have access to perpetual contracts margined with USDT. Bybit has been regularly adding more pairs to its exchange platform due to increased customer demand. The recent addition of the three pairs are expected to help maintain the liquidity of the exchange.

Amidst all the recent developments, Polkadot (DOT) cryptocurrency has been garnering increasing interest. The platform has a unique offering and as the decentralized web gains exponential adoption, the solution that Polkadot has to the woes of the block chain are going to become important. Polkadot (DOT) has risen very quickly and is currently ranked at 6^th in terms of market capitalization – which is a testament to its potential. It would be fair to expect the cryptocurrency to continue to thrive and grow.

March 22, 2021