The newest investment trust tracking polkadot echoes other moves by the fund manager to make cryptos accessible via traditional equity markets and satisfy growing investor demand as interest in ETPs mounts.

Bitcoin may have been the first crypto to make a splash in traditional financial markets via CME futures listing and the Grayscale Bitcoin Trust, but other coins are quickly following suit as investors increasingly appreciate the utility of blockchain-based tokens. The fanfare that has accompanied the rise of polkadot (DOT) has not been lost on more traditional financial markets as new products arrive to help investors gain exposure to the increasingly prominent altcoin.

Polkadot, created by Ethereum co-founder Dr. Gavin Wood, aims to build a much more scalable, secure, and affordable framework of interconnected chains to support dApps by utilizing the Substrate development framework. So far, the idea’s success is abundantly apparent, with DOT attracting high-profile investors, projects, and even rising to the 8th most valuable cryptocurrency by market capitalization.

Growing support and compatibility for services like decentralized finance (Defi) alongside tools designed to facilitate seamless app migration have increasingly positioned this emergent blockchain as a serious challenger to Ethereum’s hegemony in the dApp space. This expansive utility has captured the attention of fund managers, and Osprey Funds is already capitalizing on this interest after launching the Polkadot Trust.

Unlike the Grayscale Bitcoin Trust which suffers from high fees and extensive premiums relative to the underlying asset, Osprey Funds has risen to prominence thanks to its much more affordable fee 0.49% annual fee structure for its own Bitcoin Trust. The trust model makes investing in altcoins much more accessible for institutional investors that want to shy away from directly owning or holding cryptos.

Polkadot Trust will list on the OTCQX market after already raising more than $10 million through private placements, and be accessible to investors for a minimum stake of $25,000 and a 2.50% annual fee. Osprey’s tie-up with Coinbase to handle DOT custody ensures that a trustworthy partner is part of the overall framework, adding both credibility and reliability to the equation.

The institutional interest in Polkadot is already there, especially given exposure by big-name banks to the existing Six Swiss-listed Polkadot ETP (exchange-traded product). Goldman Sachs, JP Morgan, ICAP, and UBS have already reportedly bought shares listed by fund manager 21Shares. Now, accredited US-based investors will be able to add allocations of this blockchain’s native token to their own portfolios.

According to recent comments from Osprey’s CEO Greg King, this latest move represents another major step towards eventually bringing exchange-traded products (ETPs) to US exchanges. From his perspective, this will help broaden crypto’s appeal, help lower the entry point, and also assist ordinary retail investors seeking to gain exposure to this space through retirement funds that can’t currently be directly allocated to altcoins and Bitcoin.

Polkadot again is racing forward to pass Ethereum. Which blockchain do you think will reign supreme? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

It is Q2 2021, and the true era of decentralized finance has now begun. It is safe to say that the rough terrain has been chartered and that DeFi is here to stay.

With a solid foundation formed, the time has come for serious investors to enter the realm of decentralized finance. And with them comes the increase in demand for bona fide financial products and services.

Complex traditional investment structures will soon begin to enter the crypto space. With incredible foresight, PLETHORI has risen to meet these demands, and will soon be launching cryptocurrency’s premier ETF Creation and Trading Platform.

Exchange-traded funds (ETFs) are investment funds made up of multiple assets within a particular industry. Their value is derived from the index value of the group of assets contained within it. Advantages include lower fees, diversification of one’s portfolio, and the ability to invest in the strength of a sector, rather than relying on the success of individual projects.

The current value of all ETFs worldwide is over $7.7 trillion, and as traditional financial markets begin to feel the pressure of a declining global economy, investors all over the world are turning their attention to the rapidly expanding decentralized alternative. This increase in demand has opened the market to the idea of accommodating some of the more complex instruments that have previously only existed within the traditional financial industry.

V1 Platform

Plethori’s debut product, the V1 Platform, will offer investors the opportunity to buy and sell a wide range of crypto-based exchange-traded funds (ETFs).

How will it work?

The V1 Platform will provide a variety of ETFs, each made up of a select portfolio of tokens from different cryptocurrency sectors, for example — NFTs, Polkadot projects, Layer 2s, Insurance projects, Oracles, high market caps, low market caps, etc. Full details on each available ETF will be provided before the platform’s launch.

Users will be able to buy and sell Plethori’s ETFs on the exchange platform. The sole market will be ETH initially and a DOT market will be integrated later in 2021. Holding the PLE token will be the only pre-requisite to gaining access to the platform.

No user account is necessary. Simply connect your wallet containing PLE and you will gain full access to all of the platform’s features.

Platform Features

ETFs are an essential component of any strong investment portfolio. Their ability to provide instant diversification with minimal exposure to trading fees is a great way of hedging risk whilst simultaneously freeing up capital.

Bringing ETFs to crypto like never before, Plethori’s V1 Platform delivers a unique product to a market hungry for such innovation. And with its very well thought out UI and clean and professional design, investing has never been easier on the eye than it is with Plethori.

V2 Platform

Plethori’s V2 Private Funds Platform is set for launch later in Q2 2021. For the first time, investors will be able to create and manage their own decentralized exchange traded funds. Tradeable on the V2 exchange, these unique ETFs will not only provide creators with a passive income, but introduce gamification through leadership boards and rewards, with NFTs playing a key role.

The V2 Platform will allow users to stake collateral in exchange for the ability to create personalized ETFs with their own unique portfolio of tokens. Once created, these unique ETFs can be published and made available for purchase by other potential investors. Fund creators will earn a percentage of all transaction fees associated with the purchase and sale of their unique ETFs. The better the performance of the ETF, the higher up the leader board the fund manager ranks and the more likely other users are to purchase their ETFs.

“Gosh, I wish I did. If I had a tenth of a basis point of the ETF business, believe me I’d be out there sailing a yacht.”  — Nathan Most, commenting on the fact that he never received a dime in royalties for creating ETFs.

The V2 Platform boasts all of the same elegant features as the V1 platform, with the addition of the ability to create and trade custom-made ETFs.

NFT Integration and Gamification

Plethori’s V2 Platform will integrate ERC-721 Non-Fungible Tokens (NFTs) which will take on a very important function — the gamification of Plethori.

NFTs will play a variety of roles within the Plethori ecosystem. They will be:

The much awaited V2 platform will be Plethori’s defining product. The opportunity to create customized cryptocurrency ETFs is an industry first, and Plethori have found a way to make this not only accessible but actively enjoyable. With a ground-breaking platform, reward incentives and gamification, this really is a project to get excited about.

Plethori Key Features:

1) Cross-Chain Functionality

The need to build a cross-chain project has never been more crucial. This is due to the recent surge of unaffordable fees charged by networks such as Ethereum which can make trading and investment opportunities seemingly unprofitable to small-scale investors. Despite the high network fees, Ethereum maintains its title as the home of DeFi, due primarily to its scalability and developer saturation. Eth Layer 2 Optimism provides a solution to the fee dilemma, and Plethori will be amongst the first who will be using the new technology.

Polkadot was chosen primarily because of its aim to build on top of Ethereum, as well as the fact that it boasts smart contract functionality and compatibility via the Ethereum Virtual Machine (EVM), where the bulk of traded DeFi assets are native.

One of the most striking advantages of Plethori’s cross-chain protocol is the cheap cost to users, allowing users to invest additional funds that would otherwise be used on transaction fees. Functionality is maintained at a near optimum level as service lag caused by singular network congestion using their cross-chain protocol is mitigated.

2) Non-Fungible Tokens (NFTs)

Gamification will be another important key feature of the Plethori ecosystem. Its role within the crypto space has grown exponentially in recent times. ERC-721 integration will provide for the delivery of NFTs to reward fund managers as they “level-up” through the ranks.

3) Layer 2 Solution

Ethereum is the undisputed home of DeFi, but due to the recent sharp rise in network fees, Plethori will be employing the ETH Layer 2 solution, Optimism.

4) Fiat Gateway

Plethori’s fiat gateway integration will allow users to easily invest in crypto funds via the platform, facilitating fiat to token investing and creating a bridge to the world of traditional finance. This will be achieved quickly and seamlessly within the platform.

Their PLE token will also be used as a governance token, giving the community the power to directly influence the development and advancement of the project. PLE token holders will be able to submit proposals and vote on platform changes which will be vetted and executed by governance contracts.

Plethori’s community will be able to communicate with other equally dedicated members in the tiered groups on the platform and coordinate and propose changes to the ecosystem. There will be a weighting system in place to ensure that voting power is dependent upon level of involvement within the ecosystem, and not based merely on holding a large quantity of tokens.

Plethori CCO, Callum Mitchell-Clark, commented: “Up until now, the world of decentralized finance has been rudimentary. The more complex investment structures are now ready for adoption. We at Plethori have chosen to lead the next wave as we single-handedly bring ETFs to crypto. Utilizing the trustless immutability of the blockchain, we will develop a secure ETF Creation and Trading Platform, the likes of which have never before existed. The strategic decision to build on the Polkadot network will allow us near limitless scalability, providing us with access to tokens across multiple blockchains. Through our platform we will be providing a proven and very successful investment structure. And we will be providing it to a completely untapped market.”

To learn more about Plethori, visit Plethori.com

Twitter : https://twitter.com/plethori

Telegram : https://t.me/plethori

Medium : https://medium.com/plethori

It is Q2 2021, and the true era of decentralized finance has now begun. It is safe to say that the rough terrain has been chartered and that DeFi is here to stay.

With a solid foundation formed, the time has come for serious investors to enter the realm of decentralized finance. And with them comes the increase in demand for bona fide financial products and services.

Complex traditional investment structures will soon begin to enter the crypto space. With incredible foresight, PLETHORI has risen to meet these demands, and will soon be launching cryptocurrency’s premier ETF Creation and Trading Platform.

Exchange-traded funds (ETFs) are investment funds made up of multiple assets within a particular industry. Their value is derived from the index value of the group of assets contained within it. Advantages include lower fees, diversification of one’s portfolio, and the ability to invest in the strength of a sector, rather than relying on the success of individual projects.

The current value of all ETFs worldwide is over $7.7 trillion, and as traditional financial markets begin to feel the pressure of a declining global economy, investors all over the world are turning their attention to the rapidly expanding decentralized alternative. This increase in demand has opened the market to the idea of accommodating some of the more complex instruments that have previously only existed within the traditional financial industry.

V1 Platform

Plethori’s debut product, the V1 Platform, will offer investors the opportunity to buy and sell a wide range of crypto-based exchange-traded funds (ETFs).

How will it work?

The V1 Platform will provide a variety of ETFs, each made up of a select portfolio of tokens from different cryptocurrency sectors, for example — NFTs, Polkadot projects, Layer 2s, Insurance projects, Oracles, high market caps, low market caps, etc. Full details on each available ETF will be provided before the platform’s launch.

Users will be able to buy and sell Plethori’s ETFs on the exchange platform. The sole market will be ETH initially and a DOT market will be integrated later in 2021. Holding the PLE token will be the only pre-requisite to gaining access to the platform.

No user account is necessary. Simply connect your wallet containing PLE and you will gain full access to all of the platform’s features.

Platform Features

Users will also be able to chart all listed pairs on the 1m, 5m, 15m, 30m, 1hr, 4hr, 12hr and 24hr time frames. The platform, available in both Day and Night modes, will have a range of charting tools and indicators and users will be able to select either bars, lines or candlesticks to suit their preference.

ETFs are an essential component of any strong investment portfolio. Their ability to provide instant diversification with minimal exposure to trading fees is a great way of hedging risk whilst simultaneously freeing up capital.

Bringing ETFs to crypto like never before, Plethori’s V1 Platform delivers a unique product to a market hungry for such innovation. And with its very well thought out UI and clean and professional design, investing has never been easier on the eye than it is with Plethori.

V2 Platform

Plethori’s V2 Private Funds Platform is set for launch later in Q2 2021. For the first time, investors will be able to create and manage their own decentralized exchange traded funds. Tradeable on the V2 exchange, these unique ETFs will not only provide creators with a passive income, but introduce gamification through leadership boards and rewards, with NFTs playing a key role.

The V2 Platform will allow users to stake collateral in exchange for the ability to create personalized ETFs with their own unique portfolio of tokens. Once created, these unique ETFs can be published and made available for purchase by other potential investors. Fund creators will earn a percentage of all transaction fees associated with the purchase and sale of their unique ETFs. The better the performance of the ETF, the higher up the leader board the fund manager ranks and the more likely other users are to purchase their ETFs.

“Gosh, I wish I did. If I had a tenth of a basis point of the ETF business, believe me I’d be out there sailing a yacht.” — Nathan Most, commenting on the fact that he never received a dime in royalties for creating ETFs.

The V2 Platform boasts all of the same elegant features as the V1 platform, with the addition of the ability to create and trade custom-made ETFs.

NFT Integration and Gamification

Plethori’s V2 Platform will integrate ERC-721 Non-Fungible Tokens (NFTs) which will take on a very important function — the gamification of Plethori.

NFTs will play a variety of roles within the Plethori ecosystem. They will be:

The much-awaited V2 platform will be Plethori’s defining product. The opportunity to create customized cryptocurrency ETFs is an industry first, and Plethori have found a way to make this not only accessible but actively enjoyable. With a ground-breaking platform, reward incentives and gamification, this really is a project to get excited about.

Plethori Key Features:

The need to build a cross-chain project has never been more crucial. This is due to the recent surge of unaffordable fees charged by networks such as Ethereum which can make trading and investment opportunities seemingly unprofitable to small-scale investors. Despite the high network fees, Ethereum maintains its title as the home of DeFi, due primarily to its scalability and developer saturation. Eth Layer 2 Optimism provides a solution to the fee dilemma, and Plethori will be amongst the first who will be using the new technology.

Polkadot was chosen primarily because of its aim to build on top of Ethereum, as well as the fact that it boasts smart contract functionality and compatibility via the Ethereum Virtual Machine (EVM), where the bulk of traded DeFi assets are native.

One of the most striking advantages of Plethori’s cross-chain protocol is the cheap cost to users, allowing users to invest additional funds that would otherwise be used on transaction fees. Functionality is maintained at a near optimum level as service lag caused by singular network congestion using their cross-chain protocol is mitigated.

Gamification will be another important key feature of the Plethori ecosystem. Its role within the crypto space has grown exponentially in recent times. ERC-721 integration will provide for the delivery of NFTs to reward fund managers as they “level-up” through the ranks.

Ethereum is the undisputed home of DeFi, but due to the recent sharp rise in network fees, Plethori will be employing the ETH Layer 2 solution, Optimism.

Plethori’s fiat gateway integration will allow users to easily invest in crypto funds via the platform, facilitating fiat to token investing and creating a bridge to the world of traditional finance. This will be achieved quickly and seamlessly within the platform.

Their PLE token will also be used as a governance token, giving the community the power to directly influence the development and advancement of the project. PLE token holders will be able to submit proposals and vote on platform changes which will be vetted and executed by governance contracts.

Plethori’s community will be able to communicate with other equally dedicated members in the tiered groups on the platform and coordinate and propose changes to the ecosystem. There will be a weighting system in place to ensure that voting power is dependent upon level of involvement within the ecosystem, and not based merely on holding a large quantity of tokens.

Plethori CCO, Callum Mitchell-Clark, commented: “Up until now, the world of decentralized finance has been rudimentary. The more complex investment structures are now ready for adoption. We at Plethori have chosen to lead the next wave as we single-handedly bring ETFs to crypto. Utilizing the trustless immutability of the blockchain, we will develop a secure ETF Creation and Trading Platform, the likes of which have never before existed. The strategic decision to build on the Polkadot network will allow us near limitless scalability, providing us with access to tokens across multiple blockchains. Through our platform we will be providing a proven and very successful investment structure. And we will be providing it to a completely untapped market.”

To learn more about Plethori, visit Plethori.com

Twitter : https://twitter.com/plethori Telegram : https://t.me/plethori Medium : https://medium.com/plethori

Menu News Analysis Business Crime Interview Markets Opinion Policy and Regulation Press Release Technology Featured Compare Brokers › Cryptocurrency Brokers Bitcoin Brokers Exchanges › Cryptocurrency Exchanges Bitcoin Exchanges NEO Exchanges Ripple Exchanges Stellar Exchanges Bitcoin Cash Exchanges Ethereum Exchanges Tezos Exchanges TRON Exchanges Apps › Bitcoin Apps Bitcoin Trading Apps Cryptocurrency Apps Cryptocurrency Trading Apps Cryptocurrencies To Invest In Crypto Trading Bots Cryptocurrencies To Mine Wallets › Cryptocurrency Wallets Ethereum Wallets EOS Wallets NEO Wallets Stellar Wallets Tezos Wallets Crypto Casinos › Bitcoin Casinos Ethereum Casinos Bitcoin Buy Bitcoin Buy Bitcoin With Paypal Buy Bitcoin With Credit Card Bitcoin Price Bitcoin Wallets Mine Bitcoin Trade Bitcoin Invest In Bitcoin Cryptocurrencies Cryptocurrencies › Ripple Litecoin Ethereum Chainlink EOS IOTA Bitcoin Cash Cardano Tezos Stellar Lumens Cryptocurrency Prices › Ripple Price Litecoin Price Ethereum Price Chainlink Price EOS Price IOTA Price Bitcoin Cash Price Cardano Price Tezos Price Stellar Lumens Price Cryptocurrency Mining › Mine Cryptocurrency Mine Ethereum Mine Monero Mine Dogecoin Mine Ravencoin Mine Zcash Mine Dash Mine Litecoin Mine Ethereum Classic Mine Bitcoin SV Mine Bitcoin Cash Buy & Trade Buy Ripple Buy Litecoin Buy Ethereum Buy Dogecoin Buy Chainlink Buy EOS Buy IOTA Buy Bitcoin Cash Buy Cardano Buy Tezos Buy All Coins Trade All Coins › Trade Cryptocurrency Trade Ripple Trade Ethereum Trade Tron Trade Cardano Trade Dash Invest In All Coins › Invest In Cryptocurrency Invest In Ripple Invest In Ethereum Invest In IOTA Invest In Dash Invest In Ethereum Classic Reviews Brokers › eToro Plus500 Pepperstone Forex.com Skilling Capital.com Exchanges › Coinbase Poloniex Coinmama CEX.IO Binance Kriptomat Wirex Robots › Bitcoin Revolution Bitcoin Trader Bitcoin Evolution Bitcoin Future Bitcoin Profit Bitcoin Up Immediate Edge Bitcoin Loophole Bitcoin Lifestyle Bitcoin Code Wallets › Ledger Nano S Trezor Guarda CoolBitX BitMEX Casinos › Bitstarz Cloudbet FortuneJack 1xBit 7Bit Casino About Us Contact Us Our Team

Bitcoin [BTC]

Although the majority of the economy has been surging, Bitcoin, the world’s biggest blockchain, has been trading in the $10,000-channel over the last two months. Though the king coin did reach an all-time high of nearly $65k in April, it was priced at just under $59,000 at the time of publishing.

The king coin’s on-chain metrics and trading levels, on the other hand, have stayed stable, with many in the group anticipating higher highs from the crypto until BTC breaches the aforementioned range.

Although the mouth of the Bollinger Bands was closing in, indicating that market uncertainty was likely to decline quickly, Chaikin Money Flow reported an increase, moving above nil.

The blockchain was recently in the headlines after Tesla sold some of its Bitcoin shares to demonstrate its liquidity, causing quite a ripple in the culture.

Polkadot [DOT]

Polkadot was ranked eighth on CoinMarketCap’s charts at the time of publication, with its ranking being surpassed by the recent results of other altcoins such as Cardano and Dogecoin. DOT, unlike Bitcoin, has been on a slight uptrend since the market-wide depreciation case on April 24th and 25th. In reality, DOT has risen by 19% in the last seven days.

The dotted markers of the Parabolic SAR were found to be under the price candles, indicating that the DOT market is bullish. Awesome Oscillator’s histogram depicted something identical, with the same projected to rise over the half-line shortly.

According to a new report, if the current breakout persists, DOT’s next goals will be at the $40 and $42 ranges.

Bitcoin Cash [BCH]

Before a few days ago, Bitcoin Cash’s price movement was destined to mirror that of BTC. This has recently improved, with the fork coin surging by about $500 in a 24-hour span. BCH has climbed to peaks not seen this year as a result of the walk.

Despite an increase in trade volumes, corrections had begun to set in at the time of publication.

While the MACD line on the charts showed a sharp deviation from the Signal line, the Relative Strength Index was slipping into the equilibrium zone after briefly entering the overbought zone.

As was the case last time, it is currently impossible to predict if the cryptocurrency would be able to maintain its press time price behaviour.

Polkadot is a next-generation blockchain protocol with the objective to bring multiple blockchains together into a single network. The protocol builds on the foundations of previously launched blockchain networks like Ethereum and Cardano. The Polkadot blockchain seeks to provide a framework where individuals can effortlessly build their own blockchains, and it offers transparent and seamless exchange of data among different blockchains.

Back in 2017, Parity Technologies launched Polkadot as an open-source project, in collaboration with the Web3 Foundation. Dr. Gavin Wood, the mastermind behind the Polkadot crypto is Dr. Gavin Wood, co-founder of Ethereum and the author of the Solidity smart contract programming language. Robert Habermeier – the co-founder of Polkadot, is well known for being a distinctive member of the Rust programming language community. 

The four pivotal elements that keep the Polkadot blockchain functioning properly are the Relay Chain, the Parachains, the Parathreads, and the Bridges. Let’s find out a little more in detail about them, shall we?

The Relay Chain is the central Polkadot blockchain where all transactions are validated. The Relay Chain separates the addition of new transactions on the chain and the act of validating them, which allows the Polkadot blockchain to facilitate speedier transactions than most of its contemporaries. The Relay Chain is responsible for the network’s security, consensus, and cross-chain interoperability.

The Polkadot Relay Chain uses a variation on the Proof-of-Stake (PoS) consensus algorithm, dubbed the Nominated-Proof-of-Stake (NPoS). This allows any user staking the Polkadot coin, DOT, to play one or more of the following roles on the network: 

Parachains are the independent blockchains running on top of the Relay Chain. Parachains make use of the Relay Chain’s resources to confirm the accuracy of the transactions made on top of them. Each Parachain on the Polkadot blockchain is meant to serve a specific purpose. Every parachain is maintained by the collator responsible for producing blocks on that chain. 

Parathreads operate much the same way as a full parachain. The basic difference between parachains and parathreads is the fee structure. The registration of a parachain on the Polkadot blockchain is done through a governance proposal or a parachain slot auction. However, there’s a set fee for Parathread registrations that is much lower than the cost of registering a Parachain.

Bridges are the special Parachains that connect the blockchains running within the Polkadot ecosystem to external blockchains like Bitcoin, Ethereum, EOS, and Cosmos. This allows the seamless transfer of tokens between the Polkadot blockchain and outside networks without requiring a centralized exchange.

Polkadot doesn’t have to employ a singular blockchain to provide all kinds of services since the parachains allow the Polkadot ecosystem to employ separate, specialized blockchains to serve different purposes. 

The best thing about the Polkadot parachains is that they are able to cooperate by communicating with each other. Along with enabling different token transfers, the parachains can exchange messages and ask for information. 

While almost all blockchains that came before the Polkadot crypto had issues with the swift processing of transactions, Polkadot does not suffer from that same problem. Since all the parachains process transactions and produce blocks parallelly with the Relay Chain, the speed of the network overall is increased by a significant margin. 

In the case of almost all of the Polkadot blockchain’s predecessors, blockchain upgrades sometimes require forking the network, which takes quite a lot of time and effort. Hard forks especially can be quite difficult for the community members, even causing network splits like Bitcoin Cash. However, with the Polkadot crypto, the parachains and the main blockchain can upgrade themselves without the need for a chain fork. This particular feature allows the projects built on the Polkadot blockchain to implement and adapt to technological updates with ease.

The Polkadot coin, DOT, maintains the Polkadot crypto ecosystem. The Polkadot blockchain is designed to be fully run by its community, and the network allows its users to govern the network in a completely decentralized manner. They can vote on an existing proposal or can propose any changes to the protocol.

With the numerous unique features of the Polkadot blockchain, it’s no wonder that various projects have been building on Polkadot since 2018. These Polkadot projects are diversified and span several industries. Let’s take a look at some of the most popular Polkadot projects built within the ecosystem till date:

Founded in 2019 also by Gavin Wood, Kusama is based on the same codebase as the Polkadot blockchain, albeit being an early, unaudited release. The networks share the same underlying architecture, and governance on both the platforms is decentralized and permissionless, so all users who own the native tokens get a say in how the networks are run (Kusama’s native coin is called the KSM).

Kusama is Polkadot’s canary network. The title comes from the idea that canary birds were used in coal mines so they could detect Carbon Monoxide and other toxic gases and warn the miners of their presence. Similarly, Kusama plays the role of a canary by detecting any shortcomings or vulnerabilities in the Polkadot codebase. Kusama was developed to be a test bed for any and all new features planned to be implemented on the Polkadot blockchain. Once the new features land on Kusama and prove to work just fine, they are integrated with the Polkadot crypto network.

The top exchanges for trading in Kusama are currently Binance, Huobi Global, OKEx, BitZ, and HBTC.

Polkastarter is a DEX (decentralized exchange) built for cross-chain token pools and auctions. Other features of Polkastarter include token swaps through smart contracts, permissionless listings, private pools with password, and high slippage price alerts.

Powered by the Polkadot crypto ecosystem, Polkastarter is able to facilitate cross-chain swaps, and stay connected to the Ethereum Network and other blockchains for liquidity. With Polkastarter, projects will be able to raise capital fast in a decentralized and interoperable environment.

The top exchanges for trading in Polkastarter are currently Huobi Global, OKEx, BiKi, Hoo, and HitBTC. 

Energy Web Token (EWT) is a project launched with the objective to integrate the blockchain tech into the energy sector. The project is also creating a decentralized energy exchange.

As of right now, electricity markets around the world are mostly overly centralized and monopolistic. Consumers generally shop exclusively with the large players, which limits the options available to them. The non-profit Energy Web platform intends to instead bring about a consumer-centric energy market, with the help of blockchain technology.

The Energy Web Chain uses a proof-of-authority (PoA) based consensus mechanism and utilizes a copy of the Ethereum Virtual Machine (EVM) for distributed computations. The block rewards and the various charges on the Energy Web Chain are paid in the Energy Web Token (EWT) – which is the platform’s native crypto token. 

The top exchanges for trading in Energy Web Token are nkr is a blockchain infrastructure marketplace for Web 3.0. The Ankr project allows consumers to make use of customized and user friendly nodes. Essentially, Ankr enables easy access to blockchain technologies and DeFi by eliminating the need for complicated setups or high technical knowledge. The native coin of the network is ANKR. 

Ankr allows easy deployability of the Polkadot coin validators, and collaborates with other Polkadtor projects building within the Polkadot ecosystem.

The top exchanges for trading in Ankr are currently Binance, Huobi Global, HBTC, CoinTiger, and Bidesk.

Polymath is a security token platform that has very recently moved from Ethereum to the Polkadot ecosystem. As of right now, both Polymath’s ST20 security token (ERC-1400) and native POLY token (ERC-20) are live within the Polkadot crypto network. Following the shift from Ethereum, Polymath is looking to further develop its token’s functionalities utilizing Polkadot’s unique benefits.

The top exchanges for trading in Polymath are currently Binance, Huobi Global, VCC Exchange, Upbit, and CoinBene.

According to the developers behind the SORA project, SORA is on its way to become the decentralized central bank for the world. Put simply, SORA is an economic system that decentralizes the notion of a centralized bank. The SORA network provides various tools for decentralized applications that use digital assets, like facilitating atomic token swaps, bridging tokens to other blockchains, and creating programmatic rules.

The top exchanges for trading in Sora are currently Hoo, Uniswap (V2), Bilaxy, Hotbit, and 1inch Exchange. 

Injective Protocol is one of the very first universal DeFi platforms for cross-chain decentralized derivatives trading. Market creation on the Injective platform is entirely open and permissionless, which enables any user to create a market using only a price feed and deploy it to the overall Injective ecosystem. With its unique layer-2 structure, the Injective protocol is also able to avoid high gas fees, as well as network congestion.

The top exchanges for trading in Injective Protocol are currently Binance, Huobi Global, VCC Exchange, ZT, and BiONE.

MANTRA DAO is a community governed DeFi platform that offers financial products such as staking and decentralized lending. MANTRA DAO makes use of the Rio Chain, a blockchain that is scalable, provides the maximum security, and connects to the Polkadot blockchain.

The top exchanges for trading in MANTRA DAO are try is a decentralized, cross-chain identity aggregator protocol that is intended to serve multiple networks. Litentry allows users to aggregate identities from other chains, and comes with an identity matching and identity staking mechanism.

The top exchanges for trading in Litentry are currently Binance, CoinBene, Gate.io, Uniswap (V2), and MXC.COM. 

Poolz Finance is a decentralized platform for conducting cross-chain IDOs (Initial Dex Offering). Poolz Finance allows users to create a pool for a new token where the investors get instant access to said tokens. The protocol aims to better connect project owners & early-stage investors.

The top exchanges for trading in Poolz Finance are currently Hoo, Gate.io, Uniswap (V2), Bilaxy, and 1inch Exchange.

Despite the fact that Polkadot is fairly new to the crypto scene, it’s already one of the best-performing altcoins out there. Back in August 2020, when the tokens first started trading, the prices were around $3 /coin. Since then, the prices have gone up to about $39 as of the beginning of March, 2021, which showcases a gain of around 983.8%.

Polkadot is already considered an alternative to Ethereum by many in the crypto community. Indeed, it’s undeniable that the new features Polkadot plans to implement in near future (like external audits for its parachains) prove it a suitable replacement for Ethereum. Whether Polkadot manages to dethrone Ethereum or not, that remains to be seen, but when it comes to the Polkadot coin price predictions, it’s very likely that the prices will continue to rise in 2021. Moreover, Polkadot price predictions also state that given that the hype surrounding Ethereum continues to grow, it could also help Polkadot prices go up, since the two cryptos are quite closely linked. 

In terms of market cap, Polkadot is already among the top ten highest valued cryptocurrencies across the globe, with a market cap of over $35 billion. At this point, it’s quite safe to say that the Polkadot coin has proven to be a much better investment than most of its contemporaries. And there you have it, a detailed look at the Polkadot ecosystem! We do hope this article has helped you understand the network a little better. For more posts on cryptocurrencies and trading advice, do give our blog a visit!

Do check out our other curated lists as well.

Top 10 NFT Crypto Projects

Top 10 Low Cap Altcoins

Top 5 Hidden Gems Crypto

join our discord, and telegram for quality altcoins signals based on technical analysis and fundamental research.

Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology. Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.

Join our mailing list to receive Cryptocurrency investing and trading recommendations to your mailbox.

Subscribe to get notified on latest posts.

But what are the reasons behind the network grabbing so much attention? Let us look at the benefits offered by the Polkadot network.

As we have already mentioned, the Polkadot network consists of a large number of heterogeneous blockchain shards called parachains. These parachains are responsible for carrying out the major transactions and activities of the network, and this feature offers the following benefits:

Apart from the above-mentioned benefits, Polkadot also offers some more tools and applications that projects can use. But before that, we will understand what does Substrate mean and what is the role of Substrate in the Polkadot network.

You may have heard about the term Substrate multiple times if you are following Polkadot’s development.

A Substrate is an open-source, scalable, and modular framework for building blockchains. It comes with everything that you need to build your blockchain.

You can find many reusable components called frame pallets, or Substrate’s pallets, that allow customizing logic implementations depending upon the requirements.

It is built on the Rust programming language, and it allows for easy, safe, and fast development of blockchain code.

The Substrate comes with a set of tools that one can use.

The Polkadot Telemetry Service displays the network information, which means what nodes are running the chain, what software versions they are running, sync status, and location.

The Telemetry Service page looks like this.

Polkabot is an extensible chatbot who knows how to speak both on the Matrix.org (open network for secure, decentralized communication, which allows users (or bots) to communicate with each other) and Polkadot networks. Users may create custom bot plugins. Read the link here for more info.

Polkascan is a blockchain explorer for Polkadot, Kusama, and other related chains.

Polkawallet is a wallet for Polkadot assets.

You can see the list of projects built on Polkadot by visiting the PolkaProject site.

At the time of publication, there is a total of 347 projects built on Polkadot. Out of these 347 projects, 111 projects are built on Substrate, and the rest are on tooling, wallet, infrastructure, developer, validators, explorers, forums, workshops, dApp, etc.

You may find some of the projects originated on the Ethereum blockchain but now have been implemented on Polkadot, in addition to Ethereum.

We will see some notable projects built on different sections of the Polkadot platform.

You can see the following projects listed under smart contracts.

Moonbeam is a decentralized, permissionless, and Ethereum-compatible smart contract platform that allows the creation of interoperable applications natively. Using Moonbeam, you can easily build dApps on Polkadot and integrate them with other blockchains, including Bitcoin and Ethereum. To make it compatible with the existing Ethereum developer toolchain and network, it supports a full EVM implementation, a Web3-compatible API, and bridges that connect Moonbeam to existing Ethereum networks. This will allow developers to deploy existing Solidity smart contracts and dApp frontends to Moonbeam with minimal changes.

Moonbeam will also be a parachain on the Polkadot network. This will provide added security from the Polkadot relay chain and also the applications will be able to integrate with other chains that are connected to Polkadot (once that functionality is available on Polkadot).

The Moonbeam platform is currently targeting Q2 2021 to be launched on Polkadot. It will be launching in Kusama in Q1 2021.

Edgeware is an on-chain governed, nominated proof-of-stake (PoS) blockchain-based, high-performance, self-upgrading WASM smart contract platform, in the Polkadot ecosystem.

This project aims in creating effective runtime governance solutions for blockchain platforms. Edgeware stakeholders can use an on-chain voting system to vote to upgrade the network, which is done by the nodes automatically downloading a new version during runtime and then upgrading the network. It also aims to resolve the scalability problem by adopting a different architecture.

Edgeware was launched in February 2020 as the first smart-contract chain with a live mainnet. The network has transitioned through three on-chain upgrades.

Kulupu is a self-updating and self-governed blockchain system, using proof-of-work as its consensus engine. It is built with the Substrate framework. It is one of the first blockchains that combine a proof-of-work consensus engine with forkless upgrades.

The project was launched in September 2019, with 0 coins in its genesis block. It then emits 1 KLP per second to miners, till today.

Kulupu contains several unique features:

OriginTrail is a decentralized, open-source solution that aims to devise an ecosystem for data connection among various stakeholders in multi-organization supply chains. With this motive, the platform focuses on the infinite scaling of data that can be shared both publicly and privately.

OriginTrail will support universal data exchange (interoperability) by connecting the legacy IT systems (interconnectivity) and ensuring data immutability by utilizing the blockchain technology (integrity) with maintaining a consensus mechanism to ensure data integrity.

The OriginTrail solution’s first version is currently deployed in the food industry. The project is planning to come up with a more open-source solution that will be suitable for any product supply chain, such as automotive, consumer goods, pharmaceutical, etc.

Ocean Protocol is a blockchain-based, data-sharing platform that connects any data source, i.e., individuals, industries, startups, governments, and data and AI experts. The protocol offers safe and transparent data sharing with no geographical boundaries and allows anyone to build data services and marketplaces on top of it.

The protocol aims to unlock data, particularly for AI use cases. It mainly focuses on data scaling and will allow a safe and secure marketplace of data.

It stores metadata, links to data, and consists of a framework that defines authentication and integrity based on available proofs and can serve as a verifiable service agreement, as well as having toolsets for pricing.

To build its core protocol, Ocean Protocol Foundation has contracted BigchainDB. It has also contracted BigchainDB to build its network, marketing, and community activities.

In the next part, we will explore some more projects on the Polkadot Network.

Resources: Polkadot Wiki

Read More: How To Access WazirX From Binance Exchange – Part VII

Polkadot and Cardano are ground-up Proof-of-Stake (PoS) blockchain projects that seek to introduce the mass adoption of Proof-of-Stake before the Ethereum blockchain can completely shift from its operation from a Proof-of-Work (PoW) protocol to a PoS protocol.

While Cardano’s value proposition is in developing native smart contracts using the PoS protocol, Polkadot seeks blockchains, using their PoS blockchain to connect all other blockchains onto its network para- chains and thus becoming the living intermediary for blockchains and their tokens.

In many ways, Polkadot feels like a more alive and high-pressure ecosystem than Cardano, with higher risks for owning the inflationary Dot token (its native currency) and operating on its platform, and with greater involvement of elected moderators. Cardano offers fewer risks for both investors and stake-pool operators because of its deflationary tokenomics and less strict penalties, both of which will be discussed in this article. Still, it offers little involvement from the moderators.

Polkadot is in a more advanced stage of its development, but Cardano looks to catch up soon and may overtake Polkadot if certain conditions, which we will discuss, are met. For these reasons, Polkadot will be more rewarding for active participants currently, with a host of applications already operating on its protocol, but Cardano’s vision is grander. We will see how Polkadot and Cardano stack up against each other in every domain.

Ouroboros is the proof-of-stake consensus algorithm forming the backbone of the Cardano blockchain. Cardano’s native virtual currency ADA is referred to as “stake,” and instead of miners (as in Bitcoin), there are ADA “stakeholders” in the Cardano ledger.

Cardano’s PoS system uses a randomized process to elect a stakeholder to produce a block based on the weight of the stake recorded in the ledger. Not all stakeholders have the expertise to produce a block if elected, so stakeholders can pool their resources by delegating their stake to stake pools. The managers of these stake pools, known as stake pool operators, manage block production during slots where the Ouroboros algorithm elects stake delegated to them. These rewards are then automatically shared with the stakeholder.

In a DPoS system, stakeholders vote on who is responsible for producing blocks. This is different from Cardano PoS, where a stake is delegated to stake pools rather than used as a voting mechanism. The voting power of each person is weighted to the number of cryptocurrencies a person owns.

These block producers are responsible for grouping transactions into a block and broadcast them to the network. These block producers receive rewards for progressing the network. DPoS is designed so that block producers who fail to perform their duties can be voted out as delegates in elections. A DPoS system relies on a fixed amount of delegates to be voted on, meaning there is a set amount of parties allowed to progress the network. Cardano’s POS can have a much larger number of stake pools running, and thus Cardano furthers decentralization.

Delegated Proof of Stake networks weigh validators by stake, oftentimes allowing the highest-stake validators to take disproportionate control of the network’s consensus protocol. Delegated PoS networks also require users to specify the amount they want to stake with a given validator. In Delegated Proof of Stake networks, delegators are not subject to loss of stake based on the validator’s behavior.

Polkadot developed its PoS out of the Ouroboros protocol with some changes. With Polkadot’s Nominated Proof of Stake, nominators select up to 16 validators they trust, and the network will automatically distribute the stake among validators in an even manner. Polkadot uses tools ranging from election theory to game theory to discrete optimization to develop an efficient validator selection process that offers fair representation and security, thus avoiding uneven power and influence among validators.

Polkadot uses a Nominated Proof of Stake system where nominators back validators with their own stake as a show of faith in their good behavior. Nominated Proof of Stake differs from the more generic concept Delegated Proof of Stake in that nominators are subject to loss of stake if they nominate a bad validator.

Overall, Polkadot’s model places a large responsibility on holders to delegate the right validators or risk losing their money. At the same time, Cardano offers a more relaxed validation process where tokens can be delegated without locking them up or risk of loss.

Polkadot has a global focus aiming to be the Blockchain of blockchains, while Cardano currently targets Japan, Africa, and developing countries, trying to solve real-world problems there.

Polkadot’s network has a much smaller number of validators currently because it slashes malicious validators and stakeholders, meaning that anyone who placed a stake or delegated the bad validator would lose part of their stake. Therefore fewer people are willing to stake on validators. It makes expansion and decentralization more difficult for Polkadot as Dot token holders require more trust due to the high risk. Cardano has more stake pools (>1000) since there are no risks in delegating to a stake pool.

Since Polkadot requires more commitment from its users, naturally, many of those who choose to invest their time and money in it are actively involved in building dApps on top of the protocol. There is less involvement in Cardano from token holders and stake-pool validators because many are just happy to hold some Ada coins and watch it grow.

Polkadot has many teams leading different projects built on top of their blockchain, thanks to the Web3 foundation’s generous grants. On the other hand, Cardano is highly focused, with a smaller team supported by IOHK and looking to develop native functionalities rather than off-chain solutions. Polkadot already has a para-chain smart contracts solution, while Cardano will launch its own on March 1, 2021.

Polkadot places high-pressure to delegate tokens to not lose out to inflation, unlike Ada coin. It is for the more active investor.

Direct voting on Proposals is supported on Polkadot, but an elected Council of Governance can veto malicious proposals. There is also a technical committee that can also quickly submit technical proposals to solve network problems. The Council is elected, and the developers form a committee on the Polkadot platform. Thus it offers good backstops for recovering lost or stolen money. Cardano’s governance is in development. Project Catalyst, which has a Decentralised Autonomous Organisation (DAO) format, is in experimentation and will be refined over time.

Polkadot has a complete ecosystem with Edgeware, Ocean protocol, Acala network and is backed by Web3 foundation. It has an excellent testnet in Kusama. Cardano has project Marlowe Playground and a newly released Glow programming language for testing dApps. Their ITN failed as they didn’t get enough participation.

Both networks have great potential in integrating blockchains through their efficient and low transaction cost PoS algorithms. Polkadot may be ahead right now in the development curve, but Cardano looks to overtake it by introducing the ability to pay transaction fees in any token being transferred.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice

The cryptocurrency market has seen significant bullish momentum over the past week. With Bitcoin registering a new ATH on the charts, many altcoins including Polkadot have all started on their own uptrends.

In the last 7 days alone, DOT’s value has hiked by over 19 percent on the price charts. However, taking into account past precedents, DOT seemed likely to endure a price correction in the short-term.

At press time, Polkadot was trading at $25.2 with a market capitalization of over $22 billion. In the last 24-hours, the cryptocurrency surged by close to 7 percent, with a 24-hour trading volume of $4.2 billion.

Polkadot 1-day chart

According to Polkadot’s daily chart, after having witnessed a prolonged period of consolidation, the past week saw the crypto gain significantly on the charts. Since the start of the month, DOT has successfully breached its key level of resistance, turning it into a support level. At press time, the coin was trying once again to breach the resistance level at $26. If this attempt at going past the resistance level fails, then it is likely that DOT might see its price retrace towards its immediate support.

In such a scenario, a short position for traders may be beneficial. In the coming week, DOT may head towards a $19-valuation if this resistance level holds strong.

Rationale

The technical indicators, at press time, highlighted the strong presence of the buyers in the market.

The MACD underwent a bullish crossover on 4 February, but at press time, a reversal in which the Signal line can go past the MACD line seemed likely. The RSI was in the overbought zone, generally a bullish indicator. However, keeping in mind the coin’s previous price action, the RSI may plunge, as it did towards the end of January.

During that time too, the RSI had remained for a long period in the overbought zone, before seeing a strong trend reversal. If such a scenario repeats itself, DOT is likely to endure yet another price drop.

Important levels to watch out for

Resistance: $26.07

Support: $19.04, $15.91

Take Profit: $19.19

Stop Loss: $25.65

Risk/Reward: price has been on an uptrend for the past few days now. However, a trend reversal cannot be discounted and if the coin is unable to breach its immediate resistance, then a dip to the $19-price range can be expected in the coming week.

Bitcoin: Why China and U.S traders see institutional investments differently

Ripple: Jed McCaleb dumps 40 million XRP

Jude Gerald Lopez is a full time News Editor at AMBCrypto covering the US and Indian market. He is a post-graduate in English literature with around 4 years of teaching experience in Indian literature.

Polkadot Price Analysis: 19 February

Polkadot Price Analysis: 15 February

Polkadot Price Analysis: 01 February

Polkadot Price Analysis: 26 January

Polkadot Price Analysis: 21 January

Polkadot Price Analysis: 11 January

Even as the major cryptocurrencies start the week on a bearish footing, one considerable digital currency to keep an eye out for at the moment is Polkadot. The potential Ethereum killer looks to be on the brink of a breakout to the upside, with the price likely to touch up to $50 soon, but before that, we’ll have to wait and watch if the price can break out above the $40 level first.

At the time of writing, DOT/USD is trading close to this key resistance level, at around $35, but seems to be exhibiting some amount of bearish since earlier today. However, even if the near-term trend reverses and the price moves higher, taking out the $40 level could possibly drive more selling pressure and send the price crashing lower too. In such a scenario, if Polkadot sellers take control and send prices down, the next key level to focus on would be $25.

Polkadot can also trade bullish in case the sentiment in the overall crypto market turns upbeat and sends the larger cryptocurrencies like Bitcoin and Ethereum higher. The movements in the bigger digital currencies sometimes dictate trends in the smaller cryptocurrencies as well, as they indicate interest levels among traders towards the crypto market overall.

For now, Polkadot continues to hold on to its ranking on CoinMarketCap as the fifth most popular cryptocurrency with a market cap above $33.5 billion. Later this week, however, it could see considerable movement when Polkadot releases almost 20 million staked DOT tokens on March 19. The higher availability of DOT could potentially drive its price lower, unless demand keeps up and rises in keeping with the increased supply.

Polkadot (DOT), one of the largest cryptocurrencies in the market, has hit a new all-time high in recent hours. The virtual currency was able to reach a high of over $42 a few hours ago. However, it fell below $39 now that Bitcoin is traded close to $56,000 after reaching a new all-time high of around $57,600. 

The Polkadot ecosystem and community are getting excited about the parachain auctions. In this way, it will be possible for the Polkadot network to get connected to other blockchain networks. This is expected to increase interoperability among blockchains and help the crypto market to move forward. 

In order to increase interoperability, Polkadot uses a mechanism known as cross-chain message passing-lite. This helps different blockchains to share valuable information. The next step would be for the community and the team working on it to find issues within the code. 

As Polkadot has always promoted, they want to become a hub for crypto interoperability. This includes cross-chain data transfers and improving decentralization. With Parachains, it will be possible to help the market move in the right direction in terms of interoperability, communication and decentralization. 

The other two blockchain networks that have been discussed in recent days were both the Binance Smart Chain (BSC) and Ethereum (ETH). Etheruem expanded in the market as the platform to release dApps and decentralized finance (DeFi) solutions. 

Nevertheless, due to a large increase in gas fees on the Ethereum network and slow transaction times, it is becoming highly difficult to use the different solutions offered by this network. Instead, Binance Smart Chain became a more centralized alternative that is allowing users to enjoy BEP-2 trading and swapping through some DeFi projects such as PancakeSwap or Venus, among others. 

The main difference between these two networks is related to decentralization. Although Ethereum is slower and more expensive to use, it is more decentralized than the Binance Smart Chain (BSC). Thus, it is a thing to take into consideration when we handle funds in both of these networks. 

With the expansion of Polkadot, we can see more interoperability between blockchain networks. This could be also helpful to Ethereum and to increase decentralization in the market. Now, we need to wait and see how the new parachains will be implemented and released to the market. This could help DOT continue moving higher if the crypto market remains in a bullish mode. 

Polkadot asked, have you submitted your proposal for Polkadot Decoded 2021 yet? All eligible proposals received by February 28th, 2021 10pm CET go to community vote. You’ve still got a day to get yours in.

For those who are hearing of this for the first time, the Polkadot conference is for the community, by the community.  By submitting proposals to Polkadot Decoded 2021 users will be able to have their voice heard.

Polkadot is one of the most exciting emerging blockchain ecosystems in the industry, with a number of DeFi projects on the rise.

There is a comparison made of the potential Polkadot parachains and their Ethereum counterparts in terms of stable coins, credit markets, Decentralized Exchanges (AMMs), Oracles, Synthetic Assets, Asset Management, and smart contract execution – just to show they are at par perhaps!

There are several solid projects on Polkadot like Reef, Phala, Acala, and others.  Different DOT projects fit in different use cases for the blockchain.

One of the users commented stating Decentralized Identity: Civic on Ethereum and Litentry on Polkadot. Yet another user pointed to how ChainLink is an oracle for $DOT as well. With several users putting such statements, it just looks like investors from all blockchains will be convinced to buy DOT.

Talking about DeFi, it has been stated that in the midst of many Polkadot DeFi projects, Equilibrium DeFi has been the first to introduce their PLO mechanics, which is worth when acquiring the parachain slot.

With the Polkadot mission becoming a reality, users feel that it will not be required to log in to different blockchains separately anymore.  Borrowing, lending, staking, and trading with various crypto assets are available in one place.

The Rio DeFi project is set to utilize Polkadot technology which users think will take the DeFi space to the next level. A key part of the RioDeFi ecosystem is interoperability, which is made possible to Polkadot’s cross-chain compatibility.

It is very obvious that Polkadot is able to provide for every kind of project that is possible in the blockchain technology.

The concept of ”common goods” has been discussed by political and economic philosophers for centuries. On Polkadot, via public referenda, network stakeholders can decide to register a parachain outside of the auction process.  The common good parachain is a great introduction to governance allocated parachain slots.

Polkadot was designed in a way that it will be possible to optimize the business logic to suit specific use cases to interact with each other in a secure and meaningful way.

Disclaimer: The findings of the following article are the sole opinions of the writer and should not be taken as investment advice

In the past, Polkadot‘s price registered a crash due to its correlation with the larger altcoin market. However, at the time of writing, the situation seemed to be bullish for DOT, a project that is one of the main competitors to Ethereum, especially in the DeFi space. While ETH has scalability issues, newer competitors like DOT have the edge necessary to overtake ETH.

However, since ETH has the first-mover advantage, the same has prevented its collapse on the charts.

The chart attached above underlined the predictions made in an article dated 19 November. Since then, Polkadot has not just hit its targets, but it has crossed beyond them yielding profits of ~30%.

The cryptocurrency’s price blasted through the golden pocket and hit its target. However, a lot has happened since hitting those highs. The price retraced almost all of its profits and, before climbing up again. This can be seen in the chart attached below, a chart that also highlighted the formation of a bullish pattern.

As mentioned previously, the bullish pattern was the descending channel, a pattern that seemed to be close to the breaking point. The golden pocket extending from $4.69 to $4.80 will be the bouncing pad that will cause the breakout.

However, there are scenarios that can prevent this from happening. These include,

Hence, it is advised to take extra precautions before entering the trade at the golden pocket. The RSI indicator showed that it was heading towards the overbought zone, however, there seemed to be enough space for the price to push towards the upper end of the channel.

Should the pocket fail, the support at $4.449 will act as a line of defense.

DOT, at the time of writing, was testing the support at $4.918. It is expected to break the bullish pattern and surge higher. However, this isn’t an asymmetric bet since the downside also seems possible. The golden pocket will decide if taking a long position will be possible or not.

With Google’s Gmail, YouTube, etc. suffering outages, is it time for a decentralized solution?

‘China not planning to replace global fiat with digital yuan’

Akash is a full-time cryptocurrency writer and an analyst at AMBCrypto. He is an engineering graduate with an avid interest in finance and economics. Attracted to the chaos of trading, Akash has invested in BTC, ETH and XRP for educational purposes.

Polkadot Price Analysis: 17 December

Polkadot short-term Price Analysis: 08 December

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice

With Bitcoin, the world’s largest cryptocurrency, climbing to touch one ATH after another, the alt season may have finally kicked off. With the BTC market hitting new peaks every day, the altcoin market has started to mirror its profits too. Polkadot [DOT] has been one of the market’s most prominent projects in the last 6 months or so, with DOT surging to touch an ATH of its own on the 7th of January.

In fact, the alt rallied to a value of $11.08, before registering some corrections. At press time, DOT was being traded at $10.10.

Polkadot four-hour chart

DOT’s 4-hour chart outlined the cryptocurrency’s growing price within an ascending channel. This ascending channel surpassed various levels of resistances and fueled DOT’s price rise to new ATHs. While the cryptocurrency’s trading price was noting a lot of sellers’ pressure at press time, the crypto-asset might not drop extensively on the charts. Ergo, this might be a good opportunity to long the digital asset.

Reasoning

Momentum in the cryptocurrency market has been rising for a while now. The Bitcoin market, at press time, showed the asset trying to reach $38k, and it might do so before the day ends. However, this would also result in the price of the market’s altcoins surging, hence, DOT may just register yet another ATH. The Awesome Oscillator was an indicator of this rising momentum as it was noting strong buyers’ momentum on the charts.

On the contrary, the Relative Strength Index remained over and close to the overbought zone. This did not suggest the crypto-asset was going to drop due to the bullish momentum in the altcoin market.

Position

Entry: $10.50 Stop-Loss: $9.87 Take-Profit: $11.46 Risk-to-Reward: 1.03

Conclusion

The aforementioned analysis paints a bullish picture for DOT, one wherein the cryptocurrency’s traders can long the digital asset and see the price re-visit its ATH, if not mark a new one.

XRP, Tron, Zcash Price Analysis: 07 January

Litecoin, ETC, Neo Price Analysis: 07 January

Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

Polkadot Price Analysis: 11 January

Polkadot Price Analysis: 29 December

Polkadot Price Analysis: 17 December

Polkadot Price Analysis: 14 December

Polkadot short-term Price Analysis: 08 December

Disclaimer: The findings of the following analysis is the sole opinion of the writer and should not be taken as investment advice

The cryptocurrency market noted a large price swing yesterday. As the value of the largest digital asset, Bitcoin fell from $40k to $35k, and the overall altcoin market fell. The price of Polkadot has been noting strong downward momentum and the price has once again touched the support at $6.97.

At the time of writing, the price of DOT was at $7.77 and the selling pressure in the market may signal a short trade.

DOT one day chart

The daily chart shows the various levels of resistance the price of DOT has surpassed to peak at $11.99. Although the market appeared bullish, the price swing is likely to change this trend. The chart indicated two consecutive red candles noting strong downward pressure. This indicated that the price of the digital asset may plunge further.

Reasoning

The Bitcoin market has also been awaiting a large correction and as the price fell by almost $5k within hours, this could be a possible correction. As BTC’s price continued to sink, DOT’s price may also be pulled down along with it due to the correlation between Bitcoin and altcoin.

Meanwhile, the relative strength index, which remained in the overbought zone, has fallen to the equilibrium level. At this point, the selling and buying pressures were equal, which meant the traders were actively participating in the DOT market.

The Awesome Oscillator also indicated the falling of bullish momentum in the market as the selling increases.

Important Levels

Entry: $7.98 Stop-Loss: $8.77 Take-Profit: $5.72 Risk-to-Reward: price has been hit with bearish sentiment and has been spiraling down. The coin may continue to descend as the pressure from the Bitcoin market is also likely to influence it. The traders might be able to take a profit as the coin slips closer to its support at $5.71.

Student turns millionaire after finding private keys to 127 Bitcoins

Should you buy the recent Bitcoin dip?

Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

Polkadot Price Analysis: 07 January

Polkadot Price Analysis: 29 December

Polkadot Price Analysis: 17 December

Polkadot Price Analysis: 14 December

Polkadot short-term Price Analysis: 08 December