Polkadot to Indian Rupee
1 DOT 508.6 INR
-23.21 (-4.56%) today
to Converter
Live Polkadot Chart
Trends over time
1 Day
531.81 INR
(-4.56%)
1 Week
503.8 INR
(0.94%)
1 Month
635.61 INR
(-24.97%)
1 Year
1,441.19 INR
(-183.36%)
What is Polkadot?
Polkadot is a protocol that links blockchains, enabling the transfer of value and data between networks that were not initially compatible, like Ethereum and Bitcoin. It is also built to be swift and scalable. The DOT token is used for governance and staking, and it can be purchased or sold on Coinbase and other popular exchanges.
Is Polkadot a good investment?
Polkadot is still in its early stages. If you enjoy taking chances, your investment could pay off nicely in the long run. However, it could fail if a newer, better technology emerges and overtakes Polkadot.
Polkadot has many projects in the works, but it will take time for this new cryptocurrency to become a true success. The good thing is that it already has monetary value on exchanges, making it a cryptocurrency to keep an eye on.
Polkadot's strategy is to offer tools to create various types of blockchains specifically tailored to each use case, as opposed to attempting to build one ideal blockchain for all use cases. The Polkadot relay chain, which offers security and communication channels for all connected blockchains, is at the center of this ecosystem.
Polkadot price predictions are made by cryptocurrency experts each year. Between $100.41 and $120.39 is predicted to be the trading range for DOT in 2028. It is anticipated to cost on average $103.28 over the year.
Historical growth of Polkadot?
For $2.875, Polkadot launched in late August 2020. The DOT token price fluctuated sideways for the following six months before picking up steam in the middle of January 2021. Since its unveiling, it has increased 187.4%, reaching $8.2641 on January 12, 2021.
The token continued to rise, surging 380 percent in just over a month to reach $39.7 on February 21, 2021. Positive sentiment, however, was short-lived as DOT fell below the $32 level in the following four days and fluctuated between $33 and $38 for the entire month of March 2021.
Before Polkadot's launch of parachains on May 14, 2021âthe network's final launch after a series of multiphase processesâthe DOT cryptocurrency soared to $47.95, an all-time high.
However, the token fell by more than 60% to $18.03 on May 23, 2021, as Polkadot nodes failed with an out-of-memory error while attempting to build a block. The runtime of the nodes crashed, but not the nodes themselves. Throughout the summer, it continued to trend downward, reaching a low of $10.98 in mid-July.
The price also fell by more than 50% to $11.22 on May 16, 2022, following a strong April 2022.
The token has been exhibiting bearish behavior, prompted by the general glum market sentiment that saw bitcoin (BTC), the leading cryptocurrency by market capitalization, fall to $26,000 levels for the first time since 2020.
How and when to buy Polkadot?
Today, using Coinbase or Binance to buy and sell Polkadot is the simplest option. To buy Polkadot, you'll need to create an account with one of these exchanges if you don't already have one.
Buy or download a cryptocurrency wallet. We advise purchasing a cold wallet for the highest level of security possible. Cold wallets are available on online retailers like Amazon.
The last step in investing in Polkadot is to place a buy order via your broker's trading platform.
Expert analysis and forecasts indicate that 2022 is still the best year to purchase DOT tokens.
Interested in Polkadot?
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