DOT has not yet experienced a significant price breakthrough to new highs, like some of its competitors, is Polkadot (DOT), a multi-blockchain protocol focused on facilitating the creation of cross-chain bridges between individual blockchain networks of different purposes. TradingView data shows that after reaching the bottom at $10.36 on July 20, the DOT price rose by 205% to an intraday high of $36.13 on Tuesday, as talk about the upcoming season of alternative instruments begins to grow. According to CoinMarketCap, the 24-hour trading volume of DOT rose by more than 300% on Tuesday to a maximum of $5.41 billion, as the expectation of upcoming blockchain auctions and successful auctions in Kusama excited Polkadot investors, who view the success of KSM as an indicator of what can happen to the DOT price. If the Kusama network is able to continue the smooth deployment of its auction process and clear the way for it to start on the Polkadot network, the demand for DOT may grow, and this may lead to higher prices for the asset. One of the main factors contributing to the development of the Polkadot ecosystem is the upcoming blockchain auctions, where projects compete for community votes to get one of the slots available for launching on the network.
Finance and Business Reporter