- Polkadot declared dates for the upcoming network’s parachain auctions
- The network will start the auctions from 1 September to 29 September
- DOT has experienced massive slides after the bullishness that had it at a $29.35 peak high on 21 August
- Gavin Wood, Polkadot’s founder, will go live on 23 September and 24 September to discuss the future of decentralization.
Polkadot, the ‘Ethereum killer,’ has witnessed money-making news as the asset targets to trade higher. After succeeding in the first round of parachain auctions, the network has declared the dates for its 2nd batch. How has that affected Polkadot’s (DOT) price?
Polkadot Price
DOT has seen a substantial price drop after the bullish breakout. The bearishness that emerged around two days ago seems to persist. The altcoin led the pack as far as losses are concerned, plunging by 10.8% since yesterday.
While publishing this, DOT trades near $25.05. With the losses, DOT maintains its market capitalization at $24.8 billion, ranking 9th. For now, market players expect the awaited parachain auctions to ensure bullishness for the crypto. What are your views on the forthcoming auctions batch? Will DOT attain higher highs? Edwin Grinner, a Twitter user, believes that the parachain auction batch two will translate to thrilling and explosive price upticks.
Recent and Future Updates
Crowdloans is among the most anticipated development by the DOT community. Crowdloans help the parachain team to raise the asset bond needed to partake in parachain slot auctions. After this functionality, the platform plans to announce another event. The second auction involves Kusama and Polkadot community polling for crypto projects in the blockchains.
DOT Tech Analysis
After dipping to $10.42 lows on 20 July, DOT registered massive upside movements. The token surged 185%, attaining its peak on 21 August at $29.35. However, as expected, the asset saw slight losses following the meteoric rise.
The losses had DOT dropping beneath the 70.5% FIB retracement at $25.06. If maximized selling pressure forces the token beneath the support at $24.08, DOT might lose momentum, retesting the $23.25 range lows.
Meanwhile, the decisive four-hour candle has to close over $25.06 to confirm bulls’ dominance. That way, DOT will move to test the 50% FIB retracement at $26.32.
Polkadot has seen growth since its inception. For now, the network has more than 480 crypto projects by online investors. The coin will enjoy new highs soon as the forthcoming auctions will add significant features.
Stay tuned for latest crypto updates.
