Ready! Polkadot ‘On-The Way’ To Record High Prices Because Of These 3 Factors - Kakiforex.com - Financial Market Media No. 1 in the World Ready! Polkadot ‘On-The Way’ To Record High Prices Because Of These 3 Factors Ready! Polkadot ‘On-The Way’ To Record High Prices Because Of These 3 Factors
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September 15, 2021

Ready! Polkadot ‘On-The Way’ To Record High Prices Because Of These 3 Factors

 Polkadot (DOT) bounced back with a 256% recovery over the past month despite recording a value at the time of writing, $ 36.70, still lower than the all -time record high (ATH), $ 49.80 on May 15th.


DOT also saw a market value of $ 39 billion and has outperformed Ethereum (ETH) by 66% over the past month.


For the record, Polkadot’s canary network, Kusama is the only network currently running its slot auction. This activity has indirectly contributed in part to the increase in DOT prices in recent times.


While Polkadot is expected to do the same process in the next few months.


Polkadot’s performance is not expected to stop here as these three key factors will push the DOT bullish:



Increased Polkadot integration activities with DeFi

September 8 - Decentralized data aggregator SubQuery raises $ 9 million to develop Polkadot’s first data aggregation layer.

September 9 - Parachain Moonbeam has partnered with the decentralized staking derivative protocol, Lido which is currently housed in Ethereum and Terra.

Decentralized crypto exchange (DEX), dTrade managed to raise $ 22.8 million to provide "deep liquidity" with the support of several potential crypto market makers.

Derivatives display the latest ATH potential

Total DOT open futures interest saw growth from $ 360 million to $ 685 million in 30 days.

This phenomenon proves that investors are comfortable with long -term investments despite price spikes.

Prolonged protocol development

In the first week of September, perpetual futures showed a positive movement of up to 0.10%, equivalent to 2.1% per week.

The situation changed after DOT prices fell 35% on September 7th.

Investor confidence in these assets depends on the long -running Polkadot project especially in the parachains auction.