Polkadot price prediction: Connecting all blockchains – Capital.com

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By Iliana Mavrou and Raphael Sanis
Edited by Vanessa Kintu

Updated

The price of polkadot (DOT), the native cryptocurrency of the Polkadot blockchain, has followed the wider crypto market and plummeted in 2022. This trend continued throughout August, with DOT down 10% over the past month (as of 1 September).
But this has not stopped Polkadot developers from continuing their mission of connecting numerous blockchains into one platform.
With new parachains recently announced and its own messaging protocol, polkadot has been generating attention. Will it be able to succeed, and what is in store for the polkadot crypto forecast? Read on for our DOT price prediction analysis.
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Founded in 2016 by Ethereum co-founder Gavin Wood, the Polkadot network is one among many software competitors aiming to incentivise a global network of computers to operate a blockchain, on top of which users will be able to launch and operate their own blockchains. 
The project is being developed by Web3 Foundation’s Parity Technologies, which focuses on the development of innovations that break down centralised online services and enable institutional innovation.
Unlike similar projects, such as Ethereum, Cosmos and EEOSIO, the Polkadot protocol connects a whole network of purpose-built blockchains, allowing them to seamlessly operate with one another, through its so-called parachains. 
Polkadot allows for a number of transactions to be conducted at once – and is easy and open for more innovations and collaborations due to its collaboration with other blockchain protocols.
Additionally, the network enables blockchains to upgrade without having to fork the chain, which used to take months and at times split the community.
The Polkadot network is powered by DOT, which has three leading purposes:
Governance: DOT holders have complete control over the Polkadot protocol like deciding which events take place within the protocol (upgrades and fixes) through voting. 
Staking: Through storing funds in a digital wallet, users can earn DOT tokens by running operations on the blockchain. There are four ways in which DOT holders can interact with the staking system. 
Bonding: DOT holders can block a certain number of tokens for a certain period of time. 
DOT holders can become:
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As of 1 September, the total supply of DOT coins stood at more 1.12 billion, with just more than 1.1 billion tokens already in circulation, according to data provided by CoinMarketCap. This gave the cryptocurrency at the time of writing a market cap surpassing $7.8bn, ranking it as the 11th biggest cryptocurrency.
DOT to USD Chart, August 2020 – August 2022
Source: CoinMarketCap
Polkadot launched in late August 2020 with an opening price of $2.79. For the next six months, the DOT token price moved sideways before gaining some momentum in mid-January 2021. It jumped 208% from its launch price to hit a high of $8.62 by 12 January 2021.
The token continued on a bullish trend, skyrocketing to a closing price of $39.70 on 21 February 2021 – a 360% surge in a little over a month. However, positive sentiment did not last long as DOT dropped below the $32 mark in the next four days and continued to fluctuate between $33 and $38 for the entirety of March 2021. 
By 14 May 2021, the DOT cryptocurrency once again surged to a closing price of $47.95, which was then an all-time high, ahead of Polkadot’s launch of parachains – the network’s final launch in a series of multi-phase processes. On 23 May 2021, however, the token dipped by over 60% to $18.03 as Polkadot nodes failed with an out of memory error while trying to build a block. While the nodes themselves did not crash, their runtime did. It kept a bearish trend throughout the summer months, falling as low as $10.42 by mid-July. 
The polkadot coin price started to resurface once again at the start of September 2021 following news that the crypto was planning the launch of its cross-consensus messaging format.
On 4 November 2021, DOT reached its all-time high, surging by over 427% since its July lows to $55.00, as the network announced the passing of referendum 42 in a community vote that would enable parachain registration and ‘crowdloans’. 
The following day, Polkadot announced the passing of referendum 41 in a separate community vote, which saw the registration of its first parachain, keeping the polkadot token valued above $50 for the next few days. 
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Following its November 2021 success, the token embarked on a bearish trend losing almost 90% of its value since its all-time high and was trading at $6.96 on 1 September 2022. 
A Polkadot technical analysis provided by CoinCodex showed the short-term sentiment for the token was largely bearish at the time of writing (1 September).
The fear and greed index was displaying extreme fear with 25 out of 29 technical indicators giving a bearish reading. CoinCodex said: “Based on our Polkadot forecast, it’s now a bad time to buy polkadot.”
Recent DOT crypto news has seen the platform continue to auction off parachain slots to innovative projects. The latest cryptocurrency projects to receive a parachains included data solution Integritee, metaverse infrastructure group BridgePort, and identity protocol Kilt.
The blockchain has also been recognised as one of the greenest crypto networks, while still maintaining its 21 parachains, over 250 decentralised apps (dApps) and 2,500 nodes.
DOT’s August 2022 newsletter said: “Polkadot has achieved new recognition as having one of the lowest carbon footprints among blockchain protocols, according to a recent report from Messari on the regenerative finance movement.”
Pink is the new green????

21 parachains [blockchains], 250+ dapps, 2500 nodes including 297 active validator nodes, and Polkadot remains the greenest blockchain. https://t.co/3V4FkMoIoC
Investors have noted Polkadot’s parachain offerings. which has led to an optomistic attitude around the blockchain. SmartBlocks and Fanatics Media founder Mark Fidelman told Capital.com:
Following the recent crypto crash, many investors are looking to turn towards more trustworthy cryptocurrencies. Media Coin LLC founder Jeff Freiberger told Capital.com:
Freiberger added that the DOT/USD future price had a lot of potential to resurface due to recent positive coverage around the cryptocurrency. He said: “The fact that news is circling it in a manner that gives the consumer hope is a good thing. I also see a lot of cryptos eventually growing again after the final current sell off is reached.”
SmartBlocks’ Fidelman added that the token has potential to be better adopted by the wider market, however, it also runs several risks, like a failed mission to unite all blockchains in one. 
The latest downward price action has led algorithm-based forecasting service WalletInvestor to a bearish DOT crypto price prediction at the time of writing (1 September). The site noted that DOT was “a bad long-term investment”.
Based on its analysis of past price performance, WalletInvestor expected that DOT could have plummetted to $0.49 in a year. However, the polkadot long-term price prediction expected it to have climbed back to $9.23 in five years’ time.
DigitalCoinPrice supported the positive polkadot crypto price prediction and forecasted a steady pace of growth in the following years. Its polkadot price prediction for 2022 projected that the value could have grown to $9.26, reached $13.49 by 2025 and jumped to $32.02 in 2030.
An even more bullish forecast was provided by PricePrediction. It said DOT could have averaged $14.12 next year. Its polkadot price prediction for 2025 gave a maximum price of $33.36. This value was thought to have continued upwards and its polkadot price prediction for 2030 said it could have gone as high as $216.77.
Similarly Gov Capital predicted that the cryptocurrency could eventually have passed the $200 mark. Its polkadot coin price prediction estimated it could have soared in a year to $53.25. In five years’ time, it was forecasted polkadot could have reached $238.32.
When considering a polkadot price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. And never trade with money that you cannot afford to lose.
At the time of writing, forecasters are divided over the DOT crypto price prediction. WalletInvestor has anticipated it could have dropped below $1 in a year, whereas Gov Capital suggested it would have rocketed past $50 in 2023.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether DOT is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.
Polkadot is on a mission to connect numerous blockchains together with its parachain solution. This has led some experts to be bullish about its future potential. But its DOT coin has been stuck in a bearish trend.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether the polkadot token is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.
The bear market has continued to take its toll on DOT and it has fallen by 10% in August. Forecasters, including WalletInvestor and DigitalCoinPrice, were divided over whether a resurgence was possible.
Whether you should invest in DOT is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up.
 
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