Polkadot cryptocurrency hits record high
- Posted on June 6, 2022
Polkadot price breaks the $50 mark on Monday, hitting an all-time high of $51.47
Polkadot broke the dollar barrier on Monday, with Polkadot 5 hitting an all-time high of $1.47.
observed movement
In the 24 hours to press time, the open-source network token, often described as a “blockchain within a blockchain,” traded up 15.7 percent to $49.01. During the 7-day tracking period, it was up 11.34%.
DOT up 14.15 and 12.41% against Bitcoin
and Ethereum
, respectively.
DOT has surged 490.54% since the beginning of the year and is up 52.9% over the past 30 days.
Why move?
On Monday, Polkadot announced that the project committee has approved a motion to allow registration of parachains and crowdfunded loans, and will hold a referendum.
If the referendum passes, teams will be able to register their parachutes and open crowdfunding starting Thursday.
In October last year, blockchain infrastructure company Parity Technologies announced the arrival of parachains on the network. As reported by Decrypt, parachains are entire blocks embedded in the Polkadot network that facilitate transaction verification.
At press time, Polkadot is trending on CoinMarketCap. According to Cointrendz, the coin was not much discussed on Twitter and was mentioned in 2,354 tweets. Bitcoin was the most mentioned cryptocurrency and was mentioned in 9,232 tweets.
Polkadot, the other killer, posted record profits earlier this year, in part due to high transaction fees on the ethereum network.
Polkadot price breaks the $50 mark on Monday, hitting an all-time high of $51.47