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When will Polkadot go online (Will Polkadot rise)?

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When will Polkadot go online? The timing of Polkadot\’s launch on the mainnet is

When will Polkadot go online (Will Polkadot rise)?

When will Polkadot go online? The timing of Polkadot’s launch on the mainnet is determined by the official announcement on the Polkadot website. According to official information from Polkadot, DOT can now be exchanged 1:1 with mainstream cryptocurrencies such as USDT and KSM, and a series of new features will be launched in the near future to meet users’ participation needs in the Polkadot ecosystem.

As of around 8 pm on October 19, 2020, the Polkadot test network Rococov1 officially started parallel chain registration work at the end of November and launched the first phase of public testing.

Will Polkadot rise?

Will Polkadot rise? According to OKEx Research statistics, as of 1:50 am on May 19, DOT, which ranks 6th in market capitalization, is priced at $11.3, a 12.88% increase compared to last week. Among the top 100 cryptocurrencies by market capitalization, DOT accounts for about 48.15%, followed by XRP and LTC. XLM, which ranks second, accounts for only 4.81% of the market capitalization. Other mainstream cryptocurrencies have seen significant increases.

So how will the market trend in the coming days? From the perspective of the market, there is still a need for a correction, but the market sentiment has not been sustained for a long time.

Let’s take a look at the recent performance of the Polkadot sector:

1. Price trend

After Polkadot went online, its market capitalization continued to rise, reaching a peak of $1.49 billion (since the beginning of the year), with a growth rate of 13.8% (source: Feixiaohao).

2. Trading volume

In terms of funds, DOT’s trading volume has risen sharply in the past month. On-chain data also shows that overall liquidity has declined since the beginning of the year, but it remains strong.

3. Stability

The off-exchange premium of USDT has continued to decrease and has now dropped to the lowest level since 2020, far below the low level it has been in since 2019.

4. Market capitalization growth

Polkadot has a strong correlation with ETH, which is mainly reflected in two points: first, project parties are more willing to migrate users to the Polkadot ecosystem; second, more users choose to use Polkadot as collateral for borrowing, which is the core value support of the Polkadot ecosystem.

5. Application landing

Polkadot itself has developed well, allowing developers to build more diverse and rich applications on the Polkadot network.

In addition, from the perspective of market capitalization, according to CoinMarketCap data, Polkadot’s market capitalization is currently about $1.87 billion. Based on the current price, its total circulating market capitalization is approximately $277 million, accounting for 2% to 4% of the total cryptocurrency market capitalization. If Bitcoin was previously ranked fourth, and now Ethereum is ranked fifth, then it is likely that Polkadot will surpass Bitcoin and become the third, and even have the possibility of surpassing EOS and entering the eighth position. However, the difference will not be significant, so for Polkadot, there is a great upward potential in the near future.

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