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Polkadot (DOT) Could Rebound to an All-Time High of Around 50 USD

September 13, 2021

Talking Points:

  • DOT’s cross-consensus messaging approaches its first release, likely to make the interaction between Parachains flexible and future-proof.
  • PolkaBridge’s multi-chain automated market maker announces a plan to onboard the DOT blockchain.
  • Experts predict DOT to break through the 38 USD level and reach 50 USD before a pullback occurs.

DOT’s recovery from the low from the 7th of September was fueled by developments in the network. Experts predict that the altcoin will continue its rally and hit a new record high. 

Polkabridge to Onboard Polkadot, Experts Predict a Sustained Rally.

Updates in the DOT ecosystem has been the catalyst for the altcoin’s continuing rally. Currently, PolkaBridge’s multi-chain automated market maker runs on the Ethereum blockchain, but it plans to launch its functionality and onboard DOT soon. 

PolkaBridge is a decentralized financial (DEFI) platform where users can swap tokens on the DOT platform to other chains. The DOT based dApp plans to launch on the Polygon network. 

It’s worth taking note that the sixth Parachain auction closed on the 8th of September, and KILT Protocol won the slot. KILT is working on issuing claim-based verifiable, revocable and anonymous credentials to end-users, and get them attested by trusted entities. Since trusted entities can issue credentials in return for money, the protocol will foster new business models in dApps. 

The seventh Parachain auction will start on the 15th of September. 

With projects like KILT building on Parachains, the native asset of DOT’s on-chain, it is likely that DOT will get a boost and is expected to surge. 

One of the winners within the first five auctions was Ethereum Virtual Machine (EVM), a project that offers a range of decentralized finance applications, delivering liquidity and staking rewards. Once all the Parachain auctions have finished, and once all of the parallel blockchains have been launched by DOT, it is set to skyrocket the utility and demand for DOT. 

Experts predicted a 40% upswing in the altcoin’s price as it broke through key resistance at 29 USD. DOT is likely to reach a new all-time high of 50 USD in this current bull run.

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