2021-12-21 15:40 |
Polkadot DOT/USD enables cross-chain blockchain transfers of any type of data or asset.
It is software that incentivizes a global network of computers to operate a blockchain where users can launch and operate their own blockchains.
The launch of 5 Parachains as a catalyst for growthOn December 17, we discussed how Polkadot was showcasing signs of pushing past $30.
According to an official announcement published on December 18, Polkadot has launched parachains, which will create new opportunities through interconnected chains and usher in the next phase of the decentralized internet called Web3.
The team has invested five years into the development of the parachains, which were allocated to teams through auctions.
Each of these parachains is named as follows: titled Acala, Moonbeam, Parallel Finance, Astar, and Clover.
Through them running in parallel with the Polkadot ecosystem, the auction winners are able to lease slots on Polkadot’s Relay Chain for up to 96 weeks at a time.
This will fulfill the goal the co-founder Gavin Wood had of solving interoperability between blockchains, and the parachains will operate based on topics from DeFi to even investments and loans.
All of this has the potential to boost the value of the DOT token.
Should you buy Polkadot (DOT)?On December 20, Polkadot (DOT) had a value of $23.88.
To get a better perspective as to exactly what this value point means for the token, we will go over its all-time high value as well as its performance last month.
The all-time high value of the DOT token was on November 4, when the token reached a value of $54.98.
That said, its lowest value point of the month was on November 28, when the token fell to a value of $32.92.
Here, we can see that from November 4 to November 28, the DOT token fell in value by $22.06 or by 40%.
That said, from it’s all-time high value to its value on December 20, the token is $31.1 lower in value or by 56%.
This is an indication that the DOT token is at its lower points of value, which might make it a solid purchase, assuming the token breaks the $25 price barrier, where it can reach $30 by the end of January 2022.
However, if DOT falls under $20, then it might be worth reconsidering.
The post How will the Polkadot launch of the first set of Parachains impact the value of the token? appeared first on Invezz.
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