To summarize this Polkadot coin price prediction: the Polkadot network has revolutionized the blockchain technology we know and love. As a result, it has managed to outperform significant cryptocurrencies in 2021. After surging from $8 to over $50 per coin, many experts believe that it can surge even higher in the future with possible prices of up to $600 per token.
“Blockchain is the biggest opportunity set we can think of over the next decade or so.”
– Bob Greifeld, Nasdaq Chief Executive.
It’s fair to say that the invention of the blockchain has changed our world dramatically and mainly for the better. Voting to finance has changed fundamental aspects of our society that many of us didn’t think was possible. However, that’s not to say that it’s without its flaws.
Conventional blockchains, such as the Ethereum network, are plagued with a series of downsides. These can range from slow speeds to high transaction fees, affecting its ability to scale. As a result, several alternative blockchain projects have sprung up with the mission of countering these flaws. One of them is Polkadot (DOT).
As a multichain, Polkadot aims to offer a range of serious benefits over the conventional blockchains we are used to. Thanks to its ability to provide rapid transaction speeds, lower fees, and better flexibility, many users have flocked to it. So much so that it even managed to outperform BTC in 2021.
With such phenomenal growth, Polkadot managed to secure significant returns on investment for those who got on board early enough. This resulted in many prospective investors seeking an accurate insight into what the future might hold.
While it’s impossible to accurately predict cryptocurrency prices, we can use a range of tools to get a good insight. Polkadot price prediction will draw upon all means available to see just how potentially high the Polkadot price goes; this is from expert analysis to insightful price history.
Table of Contents
- What is Polkadot (DOT)?
- Relay Chain
- Polkadot coin price prediction summary:
- Pros and cons of DOT
- Frequently asked questions
- Who is behind the Polkadot network?
- How high will Polkadot go?
- What is Polkadot coin?
- Where to buy Polkadot coin?
- Price history
- Technical analysis of the future DOT price
- Polkadot Coin Price Prediction 2022 – 2023
- Polkadot Coin Price Prediction 2023 – 2024
- Polkadot Coin Price Prediction 2024 – 2025
- Expert Polkadot coin price predictions
- Fin Tek
- A Chain of Blocks
- Altcoin Daily
- Conclusion to the Polkadot coin price prediction
- How to buy Polkadot coin?
What is Polkadot (DOT)?
As I mentioned earlier, Polkadot managed to outperform significant crypto assets like Bitcoin last year. So you might be surprised to learn that it only came out in 2020. It hasn’t let its short existence hold it back and has boomed in popularity to become one of the most well-funded blockchain projects in crypto history. So what is it?
In contrast to the likes of the Ethereum blockchain, the Polkadot network operates a multichain network. This means that it runs two very different types of blockchain technology, which can be broken down as follows:
This is the leading blockchain used by the Polkadot network. It has minimal functionality; and its primary role is to coordinate the network and provide support to the parachains which are connected.
These are created by Polkadot users. Here, users of the network can create, launch, and operate their very own blockchains. It’s highly customizable and very secure due to being able to feed into the main relay blockchain.
Polkadot gains a unique selling point through its ability to provide accurate and low-cost transactions; combined with high levels of decentralized security. This is by combining this unique blend of relay chains and parachains. But of course, the main bonus is that users can customize parachains for a wide variety of uses.
But as a blockchain project, Polkadot shares some similar aspects to Ethereum. Both projects share an overall mission to incentivize a global network of computers to operate a blockchain; where users are given the ability to launch and manage their own blockchains or decentralized projects.
This relatively young crypto project aims to provide an efficient, private, and secure blockchain solution to the crypto community. The privacy on Polkadot is highly superior because the network doesn’t disclose user data to the public network.
Like any well-run crypto project, Polkadot comes with its native token called DOT. The DOT token services a range of uses on the Polkadot network; such as staking towards the operation of the network; providing a level of governance on the platform, or bonded to connect a chain to Polkadot as a parachain.
Polkadot coin price prediction summary:
- Polkadot is a multichain network with the ability to provide high levels of speed, privacy, and customization for its users.
- Its native DOT token is for a range of uses on the network; from the governance of the Polkadot platform to staking.
- Despite being released in 2020, the Polkadot price has become one of the best-performing assets of 2021 and even managed to outperform the likes of Bitcoin.
Pros and cons of DOT
Many people widely regards Polkadot protocol as a solution to the downsides of conventional blockchains like Ethereum. But that’s not to say it doesn’t have its downsides. We like to keep things transparent, so let’s break down the most commonly viewed pros and cons of the Polkadot network.
- Thanks to its Polkadot relay chain and parachain technology, Polkadot can connect to networks like Bitcoin and Ethereum.
- DOT is among the top ten cryptocurrencies by market cap, and the price of the DOT coin outperformed many significant cryptocurrencies in 2021.
- It has successfully secured numerous high-profile partnerships, such as its recent Chainlink incorporation.
- From Tezos to Cardano, it faces significant competition from other similar crypto projects.
Frequently asked questions
As a relative newcomer to the crypto space, and one that has demonstrated a phenomenal ability to provide a return on investment, people naturally have many inquiries about the Polkadot network and its native DOT token. In this section of our Polkadot price prediction, we’ll answer some of the most commonly asked questions.
Who is behind the Polkadot network?
The Polkadot network is thankfully a very transparent organization. It was initially founded in 2016 by Gavin Wood, a former co-founder of the Ethereum network. It was also developed by a Switzerland-based organization called The Web 3 Foundation. They own over 11% of all DOT tokens in circulation and continue to help run the network today.
How high will Polkadot go?
While it’s impossible to know just how high the Polkadot price can go, we can use a range of resources to get a possible idea. From technical analysis and DOT’s price history, many experts believe that DOT has the potential to surge by well over 200% in value. But of course, only time will tell.
What is Polkadot coin?
Polkadot coin or DOT is the native coin of the Polkadot network. It is for various functions ranging from on-platform governance to staking on private chains. Equally, crypto investors use it looking to speculate on its future value and hopefully make a decent return on investment.
Where to buy Polkadot coin?
For experienced traders, Polkadot coin (DOT) is available on major cryptocurrency exchanges. But for beginners to the crypto investing sphere, it is highly recommendable to use a trustworthy, well-established, and beginner-friendly brokerage such as eToro.
Polkadot’s (DOT) proudest boasts are its previous ability to outperform some of the most well-established crypto assets like Bitcoin. This took place in 2021, arguably DOT’s most mind-blowing price-performance period. Let’s look at it in a little more detail.
Now, the Polkadot price started 2021 at just $8.30 per token. Just two weeks later, in mid-January, it had more than doubled to over $18 per token before reaching $19 in February. For many early investors, this phenomenal return on investment from DOT was a tempting point to sell-off.
Thankfully, many people saw the potential in the Polkadot price and held on. By late February, the price had skyrocketed to a Polkadot price equal to just under $40 per token. After a slight DOT sell-off with reliance thereon, investors sought to cash in their profits; the Polkadot price dropped to under $30 per token by late March.
But this Polkadot price dip was the perfect chance for investors to buy back in as the price then surged to $45 per token by early April. History then repeated itself as the price dropped to $28 in late April before surging again to $47.95 by March. Many investors decided to sell off here because they feared their luck would run out.
The Polkadot price subsequently went into a small bear market and dropped to $11 by July. Once again, the dip was the time to buy as the price jumped to over $28 just a month later in August. But as we moved into winter, the cost of DOT certainly didn’t go cold as it aimed to break its resistance level.
Polkadot’s native token went on to hit its all-time high in November when it skyrocketed to $53.88, resulting in an early Christmas present for those who bought in at the right time. By December, the DOT price had dropped to under half and hit a low of $24.05.
As we begin 2022, today’s price of DOT is in a dip once again. But is this the right time to buy in anticipation of another price surge and a good return? Let’s move forward with our Polkadot crypto price prediction and delve into what the technical analysis can tell us about its future resistance level.
Technical analysis of the future DOT price
By analyzing price charts, trading volumes, and Polkadot price history, we can use a range of methods to get a technical insight into the average price future of DOT. Let’s delve into the year-by-year Polkadot technical analysis for the native DOT token.
Polkadot Coin Price Prediction 2022 – 2023
After its all-time high of over $50 per token, the DOT price began 2022 at around $24. The technical analysis predicts that it could potentially reach a figure of about $34 in the first half of the year before settling at just under $46 by the end of the year. At the current price, that’s an expected gain of +89%.
Polkadot Coin Price Prediction 2023 – 2024
Rolling into 2023 at around $46 per token, they expect the DOT price to go on the rise again and have a price value of just under $60 by the middle of the year. They expect the second half of the year to be slightly slower for the price of Polkadot cryptocurrency and see it finish off 2023 at an average price of around $63. This is still an impressive rise of +163% in value for those who buy-in at the current Polkadot price today.
Polkadot Coin Price Prediction 2024 – 2025
Beginning 2024 at a potential price of $63, they expect the cost of DOT to have the potential to reach around $69 in the first half of the year. In the second half of the year, we could potentially see the average price of Polkadot settle somewhere around $80. An impressive potential return of +231% for those who buy in today could be an excellent investment for some.
Expert Polkadot coin price predictions
Despite only coming along in 2020, Polkadot cryptocurrency has developed a significant and passionate community around it and has grabbed numerous headlines in recent months thanks to its ability to provide long-term earning potential. Naturally, this has attracted the attention of well-renowned crypto experts. Many of them have given their expert analysis in the form of Polkadot price predictions.
The popular crypto Youtube channel called Fin Tek recently unveiled a well-made Polkadot price prediction that placed a big focus on the recent launch of new Parachain Auctions by the Polkadot cryptocurrency network. As a result of this Polkadot news, they believed it could have a ripple effect on the DOT price, seeing investors potentially see a 20x return on investment.
A Chain of Blocks
Another up-and-coming cryptocurrency channel on Youtube is that of A Chain of Blocks. In the wake of the recent DOT price rise and the latest Polkadot news being positive, they focused on the change to Polkadot’s market cap. In summary, they concluded that the native coin’s price has the potential to reach $600 one day in the future.
Altcoin Daily is a heavily watched Youtube channel focused on the cryptocurrency market. In a recent Polkadot price prediction released by them that drew in thousands of hits, they concluded that Polkadot’s native DOT token could surge by up to 15x in value in the next few years.
Conclusion to the Polkadot coin price prediction
In summary to this DOT coin price prediction, the Polkadot network has seriously revolutionized blockchain technology. From enhanced privacy and higher speeds to incredible levels of customization offered to its users, it is continuously attracting a range of new investors to its platform.
It managed to outperform significant cryptocurrencies in 2021. Based on its price history and technical analysis, many crypto experts believe that DOT could indeed surpass its previous all-time highs and go on to be a potentially fruitful investment for crypto traders around the world.
Of course, only time will tell. But suppose the current price of Polkadot (DOT) continues on its journey of being an innovative and cutting edge addition to the crypto space. In that case, we could see it achieving a lot more in what could potentially be a very bright future ahead for the Polkadot network and those who invest in it early enough.
How to buy Polkadot coin?
In the early days of cryptocurrency, getting hold of it and keeping it safe was far from easy. Thankfully, for the countless people keen on investing in Polkadot (DOT), things are a lot more straightforward these days for new crypto investors.
As one of the best-performing crypto-assets in recent years, Polkadot is listed on major crypto exchanges worldwide. However, many of them require in-depth knowledge to use effectively and keep your investment safe online. As a result, many new investors opt for a trusted brokerage like eToro.
The likes of eToro offer new investors access to a plethora of trading tools that can allow them to trade in some of the most effective ways possible. We’re talking things like stop-loss tools and take-profit utilities, and many others. In addition, they offer a unique demo account.
With the latter, new investors can get to grips with trading and the eToro platform by using a demo account with virtual funds. Here you can make mistakes and learn from them minus any consequences on your actual finances before starting in the crypto investing world in real-time.
Overall, it provides a perfect way to buy and sell Polkadot in a beginner-friendly environment.