Ethereum competitor Polkadot (DOT) is quietly printing massive gains after receiving new adoption from the crypto exchange Binance.
In the last seven days, DOT soared from a low of $4.77 on December 24th to an all-time high of $7.65 today, December 30th, according to CoinMarketCap. The move represents an increase of 60% in a span of six days.
Polkadot’s ascent comes a day after Binance announced a $10 million funding for projects built around the Polkadot ecosystem. The multi-million-dollar investment is part of the exchange’s efforts to bring the decentralized finance experiences to its users.
Since the announcement, Polkadot has replaced ETH on Binance’s homepage, which has given the currency more exposure and more ground to potentially rival the world’s second-largest cryptocurrency.
— PolkaWorld (@polkaworld_org) December 28, 2020
A fast-growing blockchain ecosystem, Polkadot tackles one of the most pressing issues facing the crypto space by facilitating the transfer of any data, not just tokens, between blockchains.
The protocol’s native asset, DOT, has three purposes. It serves as a governance token, giving token holders complete control of the protocol. It also allows holders to stake their tokens to keep the network secure. In addition, DOT enables holders to bond tokens to create new parachains.
According to Binance, Polkadot currently supports hundreds of projects.
“Polkadot is a fast-growing blockchain ecosystem supporting over 300 ecosystem projects to-date, including the recently launched Reef Finance. As a multi-chain operating environment, Polkadot supports cross-chain registries, computation, assets and data transfer.”
Former Ethereum Advisor Steven Nerayoff to Feature on John E. Deaton’s Podcast
A Complete Overview of Cryptocurrency Cloud Mining Platform – TopHash
9 Out of Every 10 Central Banks Around the World are Exploring CBDCs, Ripple Reports
XRP Is On Its Way to a Strong Comeback as Coin’s Rising Trading Volume Shows Growing Investor Interest
Research Uncovers Why XRP Is Japan’s Most Favored Cryptocurrency
Recent Press Release
CGMD Miner’s Low-Cost Coin Mining : Spend Less, Earn More!
As more players enter the cryptocurrency space, mining becomes more complex and requires more computing power. As a result, many...
Will Arbitrum Reach $1? ARB Struggles, SPCT Offers Better Prospects
As the crypto market recovers from Bitcoin’s (BTC) recent crash, Arbitrum (ARB) is enhancing its network capabilities to improve its...
Cardano (ADA) Lags, Analysts Predict VC Spectra (SPCT) Will Outpace it
Cardano’s (ADA) price has suffered despite the launch of Cardano’s Project Catalyst Testnet on August 25. Even when the news...
SUI and Hedera (HBAR) Slump Ahead of Token Unlocks, VC Spectra (SPCT) Gains Users
Token unlocks in crypto are typically bearish signs due to basic supply and demand. Analysts will keenly observe how Sui...
While Polkadot (DOT) Pauses, VC Spectra (SPCT) Offers a 220% Potential Upside!
VC Spectra (SPCT), a rising blockchain for investments and asset management, has grown considerably in its ongoing presale. Meanwhile, Polkadot...