by Rushali 
Investment is a mandatory thing these days. No matter in which age group you are in, you need to be financially literate. Financial literacy is the basic thing that every person should learn. Investment is becoming really important these days. Especially after this pandemic, when everything was standstill then investments can only earn you some money. This pandemic also shook the normal currency’s feet and people have started moving to different types of investment ways.
One of the investment options which is growing at this time is Cryptocurrency. Cryptocurrencies are enjoying a bull run in the past few months. Many big firms and many celebrities are promoting and investing in bitcoin and other cryptocurrencies. Bitcoin is the most invested cryptocurrency, but there are many others as well. For example Ethereum, litecoin, dogecoin, Polkadot, etc. Today, we will talk about one of these cryptocurrencies Polkadot.
This article will guide you to everything you should know about Polkadot.
What is Polkadot?
Polkadot is a flagship project by a Swiss foundation called Web3 Foundation that aims to bring its users functionality of decentralized finance (DeFi) as well as users will have the benefit of a user-friendly interface.
It has a multi-chain infrastructure and is a competitor of Ethereum. It also has many benefits like it brings all the blockchain in one network. It is like a pioneer project made on a peer-to-peer network. Polkadot has shared security of relay chain and parachains including impeccable governance. All these things increase the functionality and scalability of the cryptocurrency. Polkadot’s token is called DOT that has three main functions, governing the network, staking, and bonding.
Polkadot’s Historical price movements
Polkadot’s ICO was launched in 2017, and instantly it was a huge success. It had sold over 10,000,000 DOT supply and raised over $140 million. During that time Polkadot’s price was $30 and in August 2020, its price was $600.
By mid-September, it was trading at around $5.20 and was moving downwards. In the month of October, its price reached $4.42 and then dipped to $3.86 by mid of October. By the end of October, it was trading at $4.15. Then the bull run came into the crypto world, the Polkadot price started its upward journey with $5.88 in November 2020 and never gone down after that.
Now let’s see what will happen to Polkadot in the future.
Also Read : Matic price prediction
Future Prediction
Polkadot is trading at $34.14 which is around 3.60% up. It has a market capitalization of $17,880,640,149.06 and ranks in the list of top 10 cryptocurrencies in the world. Experts believe that in the coming future Polkadot will outperform its all peers as users find the platform very easy to use and uncomplicated.
- Price prediction for the year 2021
In the year 2020, this cryptocurrency’s price has seen a full reversal from the beginning to the end of the year. And this uptrend is expected to continue this year as well. The Polkadot should trade around $34-$34.5.
- Price prediction for the year 2022
It is expected that Polkadot may bring its own blockchain platform by the end of 2022. So the price should be around $35.
- Price prediction for the year 2023
By the end of 2022, the crypto world may see a whole new bull run, and the price of Polkadot may reach $45. It will trade between the range of $35-$45.
- Price prediction for the year 2025
It is really hard to predict the future of any cryptocurrency to this level of time, as 4-5 years is a very long period of time. So, we can’t predict anything but yes we can say that the mood of the market will be pessimistic.
We can conclude that Polkadot has a very bright future ahead and it is a great investment option as it is very cheap as compared to bitcoin and Ethereum.
Note – All these predictions are from a personal point of view. A difference of opinion is bound to happen. This article doesn’t guarantee any price movement. We don’t take any responsibility for any kind of profit or loss and don’t give any kind of investment tips. Invest at your own risk.
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