Polkadot Price Prediction – Will DOT Price Reach $100 in 2021?


In an era of cryptocurrencies, there are plenty of projects taking an initiative to compete in the market. Polkadot is one of the eminent projects that provides an extraordinary economic extensibility by enabling a common set of validators to secure multiple blockchains.

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The cryptocurrency market has been seeing dynamic trends with new cryptos now and then. Polkadot is one such crypto that is being loved by many investors all around the world.

Did you know that polkadot has outgrown the famous Bitcoin, this year?

As well known, there are several altcoin that are alternatives to bitcoin and the Polkadot is one of the prudent ones as it has got all the right moves.

Polkadot is a flagship project by Web3 foundation, a Swiss foundation to facilitate fully functional and user friendly decentralized web. Moreover, the Polkadot ecosystem is referred to as a tough competitor for the Ethereum platform. 

Polkadot is giving a tough to the Famous Ethereum too. It aims at a peer to peer network, decentralized cryptocurrency that was found with a motive to weave all the different blockchains.

The cryptocurrency of the flagship project is named Polkadot and it has the DOT token. It supports data transfer between blockchains and supports multiple blockchains under a single network, handling it highly secure at the same time.

For existing DOT token holders and anyone looking to make their first move, researching the price movements is quite common. But are you apprehensive about your investment in DOT? Adding clues to all your queries, here is a complete guide to help your trading voyage straightforward!

Overview

Cryptocurrency Polkadot
Token DOT
Price $24.37
Market Capitalization $26,56,54,01,461 USD
Circulating Supply 907683091 DOT
Trading volume $6,530,420,075.52
All time high $30.15 (February 13, 2021)
All time low $2.69 (August 20, 2020)

Fundamental Analysis Of Polkadot

Polkadot is considered as one of the most pioneering projects based on a multi-chain framework that can be a competitor. It aims at providing the most advanced peer-to-peer network for numerous blockchains.

Polkadot was developed by Swiss-based Web3 Foundation looking forward to providing a fully functional and user-friendly decentralized platform. The main features of the polkadot platform are listed as,

  • Strong interoperability approach
  • Shared security of relay chain & parachains
  • Performant, shared network
  • Sophisticated governance process
  • Easy blockchain setup

After conducting an ICO in 2017, Polkadot launched an experimental and unaudited version called ‘Kusama’ in 2019 and recently, in May 2020, the Polkadot mainnet was launched.

Polkadot’s native token is DOT which intends three main purposes- governance over the network, staking and bonding. In September 2020, a sudden spike in the market capitalization made the token enter the top 10 cryptocurrency list. However, Dot is not an ERC-20 token, rather a Polkadot blockchain based cryptocurrency.

Polkadot Price Prediction 2021

  With a bullish run DOT initiated the year 2021 with a trading price of $9.12 at the dawn of January. With certain variations, the currency started to surge further. 

Following this, DOT put all measures targeting its $50 juncture. It reached $42.98 by Mid May. However, it fell into a bearish trap on May 19, when the entire market collapsed and lost almost 50%. Resuming the trade, it began surging gradually from this point, currently moving at $25 mark.

Polkadot might reach newer heights as it is considered as the fastest transacting cryptocurrency. Significantly, it may hit a new high if it succeeds to attain the minds of the investors. By the end of 2021, the digital currency might be traded at the $54 mark. If it succeeds in grabbing the attention of other investors, then it can even strike up to $63. However, failing to do so, the price may dip near $46.

Also read: WazirX price prediction, Will WRX hit $5 by the end of 2021?

Polkadot Price Prediction 2022

 DOT could resume the year 2022 with a value of $54.8 during the start of January. Further the price is anticipated to rise if the currency enhances its user base as well as the investors. The price might decline if the market turns bearish and reaches $104 by the year. At the end of 2022 Polkadot would be trading at $112.5. The highest price it might hit is $122.

Price Prediction For The Next 5 Years

In 5 years, Polkadot might be the utmost currency to trade. It may break its previous price records and the price could rise consistently high. Certain perpetual contracts by exchanges may lead to growth of the currency and it might hit a new all time high. The community might collaborate with certain developers to enhance its protocol. By the end of 5 years, Polkadot is anticipated to trade around $285. If it rallies further, then it may reach a maximum of $293.9. However, on a bearish note, the price may also drop near $276.5.

Polkadot (DOT) Market Prediction

Coinpriceforecast.com

The analysts associated with coinpriceforecast believe the DOT price would rally surrounding $34.43 by the end of 2021 and by the end of 2025, the price is expected to hit $62.18

Digitalcoinprice.com

DigitalCoinPrice speculates the DOT price to touch $36.39 by 2021. The price is expected to surge and cross $50 hitting $82.81 by the end of 2025.

TradingBeasts.com

  According to TradingBeasts.com the Polkadot price is going to increase. By the end of 2022, the average Polkadot price is expected to be $41.680.

Walletinvestor

According to Walletinvestor the price is expected to go up to $121.88 in the coming year. By the end of 2026, the price is expected to hit $309.44.

Our Polkadot Price Prediction

 Polkadot entered the year 2021 with a cost of $9.12. Effectively, the coin started to grow after. Analysing the market predictions of the polkadot currency and based on research conducted by our team, we also speculate a good DOT momentum within the crypto space. The community might come up with new improvements like enabling a multi-chain future.

The DOT price as per our analysis may be exchanged at $36.39by 2021. The maximum price which it might touch is $118.5 in the future. If it fails to keep up with the market expectations, the price may fall near $98.24, as a long term forecast.

Also read: UniSwap price prediction, Will UNI hit $100 in 2021?

Historic Market Sentiments

2020

The polkadot foundation conducted a successful ICO in October 2017, raising over $140 million and sold nearly half of 10,000,000 DOT supply. But unfortunately, the company was driven by losses which compelled them to conduct two rounds of private sale, one in 2019 and other in 2020. 

During the ICO days, a single DOT was priced at nearly $30 but in August 2020, the DOT holdings were redominated. Meaning, for the users who bought a coin for $30 were presented $100 new coins for $6 each. Therefore giving a total value of $600 for one coin.

The price started to trade at $5.20 in the mid of September and further started to fluctuate. It was trading at $4.42 in the early October and further plunged to $3.86 in the mid of October. The price traded between $4.01 and $4.15 until the end of October.

The price has suffered major fluctuations in the start of November as the price plunged to $3.90. Later on the price reached to $5.88 in the end of November with the price plunge.

The price continued to trade at $ $5.36 in early December and further started to fluctuate. The price reached $5.47 in the mid of December. On a bullish note the price reached $7.68 at the end of December 2020.

FAQ’s

What is Polkadot?

Polkadot is an project that aims to bridge the gap between n number of blockchains by building better cordination between them.

Will Polkadot hit its current all-time high by end of 2020?

The current all-time high lies more than $6 which is pretty tough for the DOT to attain by the end of 2020. But yes, it may surge above the levels in the coming year.

The price is expected to reach $40 in the next five years. Is it true?

As per some analysis, DOT price is however expected to reach $40, but the path seems to be pretty tough.

Is DOT an ERC-20 token?

NO, DOT is not an ERC-20 token but a asset build and developed based on Polkadot blockchain platform.

Will DOT touch $50 by the end of 2021?

Possibly, Yes. Considering the current trends the DOT price may hike up to $63 by this year end.



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