DOT Hits New Record As Polkadot Unveils Roadmap

News / 17.02.2021

The native token of blockchain project Polkadot is enjoying a bull run and recently hit an all-time high. This is after the project updated its roadmap earlier in the week in its quest towards adoption. 

Polkadot DOT Breaks all-time High.

Polkadot has gained momentum since the start of 2021, with its native token DOT increasing in value. DOT reached $31.89 in the early hours of today, a new all-time high for the coin. 

The rise of altcoin has been remarkable since it was only worth around $5 two months ago. Since the beginning of February, the DOT price has increased by 105%, breaking record after record during the period. 

Polkadot’s cryptocurrency market cap now stands at $28.8 billion. The new DOT record allows it to overtake its immediate rival Cardano (ADA), whose capitalization stands at $26.9 billion. DOT is currently the 4th most capitalized crypto asset, and it is gradually closing the gap with Tether (USDT). At the time of writing, Polkadot is valued at $30.99 with a weekly gain of 27.7%, according to data from CoinMarketCap.

Polkadot Unveils Its Roadmap

Several factors explain this bull run from Polkadot’s DOT as the project has gotten massive publicity since last year. The Polkadot project has also shown several signs of solidity. It aroused the interest of investment giant Grayscale at the end of January. Polkadot will also benefit from Plasm Network’s rise, which creates bridges between its blockchain and Ethereum

However, what seems to have caused the latest rise in DOT’s price is updating its roadmap. Polkadot announced this week that it had started the test phase of its “parachains.” These are secondary chains that allow them to optimize the resources of the Polkadot network. 

Once this step is completed, Polkadot will launch the Kurama network. This is a bridge between the testnet and mainnet. This period will see developers make final optimizations within the Polkadot network before the blockchain’s full launch.

Olowoporoku Adeniyi is a blockchain enthusiast and crypto evangelist. Currently he loves all things crypto and covers happenings within the blockchain space.