Polkadot landing on the moon? ! . Polkadot broke out, now is… | Author: Titus | The Capital | June 2021

polka dot By market value, it is now the eighth largest cryptocurrency-but what is the reason for the sudden price increase?

Not just Bitcoin with Ethereum The quotations are getting higher and higher in recent days, and Polkadot, the bridge builder of the Internet of tomorrow, is also doing surprisingly Excellent.

In the last 24 hours only, the price Cryptocurrency It has risen by more than 9%. In comparison: Bitcoin prices fell by less than 1.12% during the same period. point The transaction price is 24.35 US dollars.

but why point Sudden burst of prices?The main reason for the surprising price increase may be the listing of DOT tokens on Coinbase: In a blog post last Monday, Coinbase announced that traders will be able to trade point On Coinbase Pro from June 16th.

Usually, this means that Polkadot will also be Coinbase Retail trading platform in the coming weeks.Therefore, some investors may have bet point -Hope that the demand will increase in the near future. Since this has happened many times in other cryptocurrencies in the past, this phenomenon is called the “Coinbase effect” in crypto terminology.

For now, you have to wait and see point It will also be published on Coinbase for regular transactions.However, this time it is likely coincidence With the start of the parachain auction polka dot, Because these should be online in a few weeks.The start of these auctions may lead to polka dot Ecosystem token DOT-similar to what happened in the past Yayoi Kusama.

Because on Kusama, it’s usually called the experimental version of Polkadot, Parachain The auction successfully started on June 8.Many people think this is a positive sign that Parachain auction polka dot Will also work well.

Another good news for the Polkadot ecosystem comes from Switzerland, although it is not as big as a price driver. The non-fungible token (NFT) project RMRK announced that it has received US$6 million in investment funds to build a cross-chain NFT infrastructure.

RMRK hopes to build an infrastructure for NFT transactions between blockchains such as Ethereum and Polkadot. In this mission, RMRK has taken a different approach from many Polkadot projects. RMRK decided to cooperate with other projects instead of dealing with over-saturated parachain auctions.

Therefore, the first implementation of this project should be carried out on Unique Network, a project dedicated to the NFT department of Kusama and Polkadot.

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Disclaimer: These banks are not a substitute for investment advice, and investment in the cryptocurrency market is at your own risk. Invest only the amount you are willing to lose. I get a commission for purchases through the link in this article.


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