Polkadot (DOT): Price, Updates, Recent Developments, Community, Future Events
- Polkadot has announced the dates for the next five parachain auctions on the network
- The auctions will begin on September 1st and end on September 29th
- DOT has declined strongly after a bullish outbreak saw the token peak at $29.35 on August 21st
- On the 23rd and 24th of September, the founder of Polkadot, Gavin Wood, will be on Unfinished Live to talk about the decentralized future
The famed killer, Polkadot, has had a barrage of good news rolling in for its development team. After completing its first batch of parachain auctions, Polkadot has announced the schedule for the next batch. How has the price of DOT reacted?
Polkadot Price
The price of DOT is witnessing a significant downswing after a bullish breakout. The bearish trend which began to engulf the market about 48 hours ago still persists.
Over the last 24 hours, the DOT token is down by 10.8%, making it the second-biggest loser in the top 10 biggest cryptos.
Five day price chart of Polkadot (DOT). Source TradingView.com
DOT now trades at $25.05. The downtrend now means DOT has a market cap of $24.8 billion, the 9th largest amongst all cryptocurrencies.
The forthcoming parachain auctions on the Polkadot network are expected to bring some bullish momentum to the DOT token. A Twitter (NYSE:) user identified as Edwin Grinner wrote;
I think batch 2 of the parachain auction on @kusamanetwork will be explosive and thrilling. My birds are ready for auction. And you? $KSM $BSX $KILT
Recent Developments and Future Events
One of the most awaited developments in the Polkadot community is here; crowdloans. The crowdloan is an on-chain way of helping parachain teams raise the token bond required to participate in a parachain slot auction.
The announcement of crowdloans will lead to the next major event on the network. The second batch of the parachain auction is an event between Polkadot and Kusama that involves members of the community voting for projects that intend to build on either of the blockchains.
The first batch of 5 parachain slot auctions on Kusama was completed successfully in June and July. Karura, Moonriver, Shiden, Khala, and Bifrost emerged as the winners of the parachain auction. Kasuma has announced the dates for the subsequent five auctions as;
- Auction 6 – Sept 1, 2021
- Auction 7 – Sept 8, 2021
- Auction 8 – Sept 15, 2021
- Auction 9 – Sept 22, 2021
- Auction 10 – Sept 29, 2021
The DailyCoin team discovered a lot of enthusiasm among the Polkadot community about the upcoming parachain auction. A Twitter user identified as Cryptunix wrote;
“There lies a GREAT opportunity in the fact that most people do not even know about the upcoming Kusama and Polkadot parachain auctions. Let alone understanding its mechanisms and its impact on the $KSM & $DOT price. Parachain auctions are basically the mother of all ICO’s/IDO’s.”
Another ardent believer in Polkadot, Jame Wo, believes that
“Joining the…
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