Polkadot is one of the most promising projects in the crypto space. It is poised to enter and remain as one of the top 5 blockchain projects, and the development that has been going on over the past few months will soon start reflecting in the Polkadot price as well.
Let us review some of the development that has happened in the Polkadot ecosystem in the past few months and how it could affect Polkadot price.
- Many new projects were launched on Polkadot like DOT, REEF, PHA, XFT, BLZ, CRU, REN, OM, AKRO, XOR, etc. In the past 10 days, some of these projects increased by more than 50% in price.
- The transaction speed of Polkadot has reached 1,000 transactions per second. This speed is much higher than BTC (10 TPS), ETH (20 TPS), and PayPal (193 TPS). The next higher TPS is by XRP, which is 1,500 TPS. Solano and VISA provide a very high speed of almost 65,000 TPS.
- The transaction fee for using the Polkadot blockchain ($0.15) is much lower than the Ethereum blockchain. The Ethereum transaction fee is in double digit or triple digit dollars at times.
- Binance has announced a 10 million dollar fund for projects that want to develop based on the Polkadot ecosystem. There is a much higher chance for these projects to get listed on Binance, one of the world’s top crypto exchanges.
- Over $10 billion worth of DOT has been staked, which is one of the highest staked values. Different platforms have different APYs for staking DOT, which can go up to 20.27% on Math wallet.
- Polkadot has been one of the favorite projects of not only retail investors but also a lot of VCs. Many top investors have invested in Polkadot. Below is a list of few of the investors:
- Web3 Capital
- NGC Ventures
- Arrington XRP Capital
- Haskey Hub
With such strong fundamentals, we could see a very high return on investment if we select Polkadot as our investment. Polkadot has the complete potential to cross $100 per DOT in the future.
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