DEC 20, 2023
(Alpha) Weekly Altcoin Review: Polkadot ($DOT)
by Crypto Alpha, BXVb7rtP5dwgpuKWx3S1B78sdwibsPstuowsyzjpU1jE
Crypto Alpha is dedicated to providing you with a weekly altcoin alpha, consistently delivering valuable insights and opportunities in the dynamic world of cryptocurrencies. Stay ahead of the curve with our expert analysis and recommendations, ensuring you have the knowledge and tools to make informed decisions in the ever-evolving crypto landscape.
Polkadot has shown significant rallies in the last seven days, as its price has increased by over 4% (as of the time of writing). Polkadot seems to have been gathering interest lately from market participants, and this can technically be the right moment to dissect the project for possible investments.
The last thirty (30) days have been a net positive for Polkadot, as the price has increased by over 30% (as of the time of writing), which indicates a steady and healthy rise of value for the project.
The current price of Polkadot hovers around $6.90 (as of the time of this writing), and the project sits at No. 12 in the crypto market by valuation. The circulation supply of Polkadot is 1,257,323,546 DOT, with a market cap of $8,679,360,958.16 (as of the time of writing). This is a solid asset that one can comfortably dig to invest into for a possible 6-7X in ROI (return on investment), with its ATH being $55.
What is Polkadot?
Polkadot is a type of blockchain technology that is designed to solve the scalability issues that have bedeviled blockchain technology over the years. Bitcoin and Ethereum are the major victims of this technical glitch. Polkadot is built to connect various blockchains of Web3 technology: Public networks; Private chain consortia; Oracles; and Networks without permissions.
The project boasts of two use cases. First, is the possibility to create smart contracts on its blockchain. Also, Polkadot provides the DeFi space with the compatibility of independent blockchains. This project creates bridges between blockchains by connecting different cryptocurrencies. To get further information about this massive project, visit (Polkadot price today, DOT to USD live price, marketcap, and chart | CoinMarketCap) and (https://academy.binance.com/en/articles/what-is-polkadot-dot)
Levels to connecting the dots!
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