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Polkadot is a protocol that enables cross-blockchain transfers of any type of data or asset. By uniting multiple blockchains, Polkadot aims to achieve high degrees of security and scalability. DOT serves as the protocol’s governance token and can be used for staking to secure the network or to connect (“bond”) new chains.
Happening now
AI generated 4h ago
After a positive week for its price, attention is turning to whether Polkadot's recent strategic updates can address its significant long-term market underperformance.
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Sign me up1.9K
-31.57%
1.3K
-33.84%
722
-32.84%
2.6K
A$8.04B
A$8.04B
1.6B DOT
Not enough data
1.6B DOT
#26
0.15%
A$610.95M
-42.19%
A$4.34B
A$19.54B
A$84.87
-39.17%
DOT vs markets
↘ 56.09%
DOT vs BTC
↘ 53.19%
DOT vs ETH
↘ 45.93%
Tags
defi
substrate
polkadot
web3
+2
Network | Address | |
|---|---|---|
Polkadot | NA |
Time | Price | Change |
|---|---|---|
Today | A$4.91 | ↘ 0.27% |
1 Day | A$4.93 | ↘ 0.27% |
1 Week | A$4.46 | ↗ 9.35% |
1 Month | A$6.18 | ↘ 21.24% |
1 Year | A$7.98 | ↘ 39.17% |
AI generated 4h ago
After a positive week for its price, attention is turning to whether Polkadot's recent strategic updates can address its significant long-term market underperformance.
Price rises despite lower trading volume
DOT's price increased by
↗9%
over the last week, outperforming the average for similar Layer 1 projects, which saw a
↘6%
decline. This price gain occurred alongside a
↘52%
drop in daily trading volume.
Polkadot announces major ecosystem updates
The ecosystem recently announced several key initiatives, including a decision by the Polkadot DAO to cap the DOT supply
. Other developments include the launch of an
institutional armto connect with traditional finance and the release of a new stablecoin called
HOLLAR.
Long-term performance lags behind the market
Despite the recent weekly gain, DOT remains down
↘39%
over the past year, a period where the broader Layer 1 category saw an average increase of
↗39%
. The asset is also trading
↘94%
below its previous all-time high.
The latest DOT price is A$4.91. Compared to Polkadot's value of A$4.93 from 24 hours ago, there's been a -0% decrease, while the current price is 9% up from A$4.46 which was recorded one week ago. Polkadot's all time high is A$84.87, which was reached on November 4, 2021. This is a -94% change from its price today.
The market cap is currently A$8.04B, which is a result of multiplying the current price of Polkadot(A$4.91) by the total supply(1,634,191,188 DOT). The fully diluted valuation of Polkadot is A$8.04B. The diluted valuation of Polkadot is A$8.04B.
Polkadot had 1,251 buyers, 722 sellers and total 1,899 trades in the last 24h. Polkadot was searched 2,620 times in the last 24h.
Polkadot (DOT) is an open-source multichain protocol that seeks to connect and secure a network of specialized blockchains. It aims to facilitate the cross-chain transfer of any data or asset types, not just tokens, striving to make blockchains interoperable with each other. Polkadot is known as a layer-0 metaprotocol because it underlies and describes a format for a network of layer 1 blockchains known as parachains. As a metaprotocol, Polkadot has the ability to update its own codebase via on-chain governance according to the will of its token holder community. The Polkadot protocol seeks to connect public and private chains, permissionless networks, oracles, and future technologies, allowing these independent blockchains to trustlessly share information and transactions through the Polkadot Relay Chain.
Polkadot operates through four core components: the Relay Chain, Parachains, Parathreads, and Bridges. The Relay Chain is the heart of Polkadot, helping to create consensus, interoperability, and shared security across the network of different chains. Parachains are independent chains that can have their own tokens and be optimized for specific use cases. Parathreads are similar to parachains but with flexible connectivity based on an economical pay-as-you-go model. Bridges allow parachains and parathreads to connect and communicate with external blockchains. Polkadot's native DOT token has three main functions: staking for operations and security, facilitating network governance, and bonding tokens to connect parachains.
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Terms apply. Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
Trending articles
Popularity in posts
#104
Contributors
917
Posts
917
% About Polkadot
0.185%
Hold times
0 days
X (Twitter)
33.56% bullish
Sentiment
3.9 ★
Highlights
917 unique individuals are talking about Polkadot and it is ranked #104 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Polkadot has an average sentiment score of 3.9 out of 5. Finally, Polkadot is becoming less newsworthy, with 0 news articles published about Polkadot.
On Twitter, people are mostly neutral about Polkadot. There were 37.87% of tweets with bullish sentiment compared to 12.85% of tweets with a bearish sentiment about Polkadot. 62.13% of tweets were neutral about Polkadot. These sentiments are based on 16349 tweets.
On Reddit, Polkadot was mentioned in 44 Reddit posts and there were 130 comments about Polkadot. On average, there were less upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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Analysis
Polkadot’s innovative design seeks to provide scalability by processing transactions on several parallel chains. This approach could increase its relevance as the demand for blockchain solutions grows.
Read more
Polkadot’s complexity in connecting various blockchains could pose challenges for widespread adoption, as ease of use is critical for new users.
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