Polkadot Price Prediction – How DOT Price will Go

The project, which has been in existence for less than a year, is considered one of the most promising on the market. To date, the cost of DOT coins has shown an increase of almost 900% from the initial price.

How did it happen that Polkadot, which started in mid-August, climbed to the 6th position in the rank of cryptocurrencies? And what prospects await the coin next? Now the eyes of millions of investors and industry representatives are focused on the project with very high hopes. Most analysts predict success for Polkadot developers.

Let’s look at the general opinions about the future of the DOT price, Polkadot prediction market and how these forecasts are supported.

Polkadot Overview

In 2016, Gavin Wood stepped down as CTO and main developer of the Ethereum network. And some time later, the Polkadot project, often referred to as the “Ethereum killer,” appeared. Are these two events related? Undoubtedly. Although the developers themselves deny that the project is a competitor to the second largest cryptocurrency in the world, Gavin Wood nevertheless began work on Polkadot to correct the shortcomings of his previous project.

Polkadot pretty quickly found itself in the top ten crypto leaders and attracted investors and blockchain developers. As a multi-chain network that connects blockchains into a single ecosystem, it provides fast and secure processes and data exchange from various networks.

Polkadot is unique in that it is interoperable with other blockchains and provides opportunities to create parachains, blockchains of other projects with its own tokens, consensus mechanisms and governance structure.

What Is Polkadot (DOT)?

Polkadot (DOT) is the Polkadot network’s token, the ICO of which was held in 2017. The token performs three main roles:

Governance – Polkadot coin holders can vote on changes to the project, such as amending the code of the program, as well as removing and adding parachains.

Staking – the network users stake DOT tokens to keep the network running, and also use them to reward validators that allow transactions between chains to take place.

Bonding – DOT tokens are locked for new parachains to be added, and then released after the inactive ones are removed.

The maximum number of issued Polkadot coins is 1,103,303,471.

Polkadot Live Price Chart

The price of DOT today is $8.82 with a daily trading volume of $1,013,954,688. Over the past 24 hours, the price has risen by $0.5192 or 6.26%. 

With its market capitalization of $8,769,354,789, DOT is ranked 11th in the current CoinMarketCap ranking. There are 987,579,315 DOT coins in circulation and the maximum supply is not available.

Polkadot Price Analysis

In the history of Polkadot’s value, there have been several significant events – ups and downs. At the time of the cryptocurrency ICO, the cost of one DOT coin was $0.29. It hit $6 by the end of August 2020, but dropped to $4 in September of that year.

From the beginning of 2021, the DOT rate began to rise. The coin reached its then record of $47 in mid-May, but dropped sharply at the end of the month so that the coin was trading at $18-$19. And in July, it dropped to $11 per token, but again headed for growth. The growth lasted until Polkadot reached its historical maximum, when on November 4, 2021, traders could sell one coin for $55.

Then, as is usually the case, the rate of DOT coin began to decline, which was exacerbated by the crisis in the entire crypto market. So now the coin is trading at $8 – $9.

Polkadot Forecast by Experts

In general, crypto experts have a very positive attitude towards the Polkadot project, predicting that the coin will gradually recover from the crypto crisis and will be highly valued in the cryptocurrency market. This is especially true for long-term projections, where some enthusiasts expect 1 DOT to sell for $423 in 2031.

Polkadot price prediction 2022

At the end of 2021, to be more precise, in November, Polkadot reached its all-time high of $55, exceeding the expectations of experts who predicted that the value would rise to $20-30 by the end of 2021. Although, in December, the value of the coin really fell to $26, so the forecasts  more or less came true. 

As for 2022, the crypto market crisis did not bypass Polkadot either, bringing down its value in the first quarter to $16 -$19 per coin, and by the end of the second – to $6.7. 

To find out if DOT can achieve its past price performance by the end of 2022, we’ve compiled forecasts from the most reputable sources.

Coinpedia 

For the middle of the third quarter, their forecasts were approximate as follows: up to $8.66 by August of this year and rising to a maximum of $$10.34 in the last days of 2022.

Wallet Investor 

Service analysts believe that by the end of the third quarter, the maximum price per coin could reach $14 – $16. However, their forecasts for the end of the year are extremely pessimistic. In their opinion, the value of the coin could drop sharply to $0.611 – $0.916. That is, the expected drop is more than 92%.

Digitalcoin

The DOT price forecast from Digitalcoin for 2022 is more positive. Crypto experts believe that the value of the coin will soon approach $10.39. And by the end of the year, in their opinion, the price of DOT could rise to $11.93.

The Economy Forecast Agency

EFA has released its Polkadot price prediction for 2022. According to the results of their analysis, the coin will steadily decline in the coming months. And by the end of December the price will drop to $5 – $6.

Polkadot Price Prediction 2023

Coinpedia 

Resource analysts predict a slight increase in the cost of Polkadot – up to a maximum of $ 17 per coin. However, the probability that the rate may drop to $9 in case of bear domination is not excluded.

Wallet Investor 

Perhaps the most pessimistic forecast regarding the near future of the DOT coin is on the Wallet Investor website. Experts believe that in 2023 the value of a digital asset will fall to $1, and sometimes even to $0.3 per token. If this prediction comes true, investors will face big losses.

Digitalcoin

Analyst expectations are close to those of Coinpedia. It is expected that the value of the coin will not fall below $11, and the maximum increase that is expected by the end of 2023 is $13.95.

The Economy Forecast Agency

The resource experts also express pessimistic forecasts, although not as much as their colleagues from Wallet Investor. In their opinion, Polkadot’s price is expected to drop to $4.78 – $6.12 by the end of 2023.

Polkadot Price Prediction 2024

Most experts expect that the value of the DOT coin price will increase, and by the end of 2024, it can reach the level of $31.05, and the minimum that the coin can fall to is $10.98 Only Wallet Investor analysts remain unrelentingly pessimistic, predicting an even greater fall in the asset’s value to $0.454 – $0.682.

Polkadot price prediction 2025

If in the annual perspective experts without any doubt predict a high return on investments in DOT, does this trend extend to the long term? Let’s look at the visions of the same sources.

Coinpedia 

The project is quite young, so it was not possible to track the behavior of the coin on the market in the long term, but according to the introductory data that we managed to track to date, Polkadot’s forecasts for the next 5 years are extremely positive. Coinpedia believes that by the beginning of 2025, we can expect to overcome the mark of at least $ 120, and December will end at at least $ 200.

Wallet Investor 

Analysts of the service believe that at the beginning of 2025, we will see that 1 DOT will be equal to more than $ 165, and then further show stable growth throughout the year. At the end of the year, the value of the currency will exceed $ 200. It turns out that if you invest $ 100 now, then by the end of 2025 you will have about $ 589 in your account.

Digitalcoin

Digitalcoin continues to take into account the high volatility of the cryptocurrency in the long term. Therefore, according to their data, by the middle of the year, the Polkadot coin will be worth about $ 100, and by the end of the year, they expect a decline to $ 86.

The Economy Forecast Agency

EFA’s DOT Price Prediction 2025 contains data only until March 2025. And at this point, they expect to see the figure of $ 70.88 next to the DOT rate designation.

Polkadot Price Prediction 2026

At this time, Polkadot is expected to reach its all-time high of $65.78. Also, it is most likely that the cost will not fall below $13.96. Only experts from Wallet Investor insist that Polkadot is a bad investment, as their technical analysis predicts a decline in price to $0.140.

Polkadot Price Prediction 2027

In five years, analysts expect the altcoin to hit $135.93. The lowest cost will be $16.59, according to analysts from Digitalcoin. Wallet Investor believes that the bottom of the DOT coin rate will be $0.247. In our opinion, such a forecast is ridiculous, because even during the ICO, the coin was worth more.

Polkadot Price Prediction 2028

The average price of 1 DOT is expected to be $28.47 and it will not go below $25.18. The potential for growth that analysts see in the coin is $135.93. It’s over 1500%.

Polkadot Price Prediction 2029

The lowest price expected that year is $33.71. The most optimistic forecast, which is quite realistic in the presence of all growth conditions, is $191.47.

Polkadot Price Prediction 2030

It is expected that during the year the coin can both decrease to $38 – $41, and skyrocket to $285.81. However, so far few analysts have dared to make such a long-term forecast.

Polkadot Price Prediction 2031

Few analysts predict many years ahead, and experts from Digitalcoin are one of them. They expect the value of the DOT coin to range from $42.33 to $44.71 during 2031. However, there are also more incredible forecasts, according to which the token can skyrocket to $423.47.

Polkadot price prediction today

Due to the protracted crypto crisis, which affected the value of almost all crypto assets, experts’ forecasts are not as positive as before. The same applies to Polkadot 50% of whose price forecasts are moderately positive with a slight stable growth, and 50% are negative, predicting a reduction in the price of the asset by up to 100% of the current value.

On the other hand, no one doubts that the asset, whose market capitalization has brought it to the top 11 coins, will survive and recover from the crypto winter.

What’s behind Polkadot

Polkadot is an ambitious relay blockchain project. The main idea is that blockchains do not need their own validators to support the operation of the network. The blocks will be validated by Polkadot miners, and the projects will rent the parachain. The parachains line up parallel to each other around the main blockchain. These parachains can be considered as clients of the main relay blockchain, the purpose of which is to provide security and coordination.

Relay chain Polkadot uses a consensus algorithm that allows you to quickly complete many blocks from all the parachains, and can also accommodate a large number of validators (more than 1000). This is because not all validators need to vote for each individual block — instead, validators can vote for the single highest block they consider valid, and the algorithm will transitively apply the vote to all the ancestors of that block. Polkadot’s Substrate software development kit has 3 consensus algorithms out of the box: GRANDPA, Rhododendron, and Aurand.

Advantages of Polkadot for developers

If you plan to create your own blockchain, you can use another Web3 foundation product called Substrate. It will greatly simplify your work. With Substratum, you will be able to implement the blockchain in the shortest possible time. An important plus: your project, which you will create using Substrate, is automatically compatible with the Polkadot blockchain. In addition, you will receive information support from the developers through a clear, interesting and comprehensive guide.

Experts are confident that Polkadot will accelerate the development of blockchain technologies in general and decentralized applications in particular.

Polkadot price prediction tool

As you can understand, we can not say that the Polkadot price forecast in the short and long term is overly positive. Polkadot price prediction 2025 gives an average value of $ 150. And Polkadot price prediction 2030 is much more complex in accuracy, so experts cautiously call the figure at least $ 200. 

The technology of the project is so important, and the confidence in its full implementation on the part of the developers is so high that DOT is included in the list of the most promising currencies. Even though the coin is about six months old.

As of February 15, the price of one DOT token is $ 29. Market cap = $ 235 26 122 119. And Volume (24h) reaches $ 5 133 042 284.  In the rank of cryptocurrencies, Polkadot is in 6th place – that is, it is the 6th cryptocurrency in the world in terms of importance.

You can track the rating of Polkadot and other cryptocurrencies on Godex. Go to the Exchange Rate page and track the changes.

FAQ

Who created Polkadot and when?

Behind the creation of Polkadot is Gavin Wood. He was one of the developers of Ethereum, wrote the code of this cryptocurrency and its Yellow Paper. He is also the author of the Solidity programming language, now the ETH network smart contracts are written in this language.

After leaving in 2016, he created his own cryptocurrency. According to him, it was supposed to “achieve the goals that Ethereum set, but could not achieve.” Because of it, there is an opinion that the Polkadot network is a direct competitor to Ethereum, but the projects are too different in nature. Now the Web3 Foundation, which is located in Zug, Switzerland, is engaged in the development. 

What is Polkadot Crypto?

The maximum issue of Polkadot tokens (DOT) is 1 billion. 30% of the issued tokens are owned by the founders, 58.4% are held by investors, and 11.6% will be used for giveaways and rewards to community members. On September 3, 2020, the capitalization of Polkadot soared so that the project entered the list of the 10 best cryptocurrencies in the world. At the moment, the price of the DOT token is already $ 29.

If you analyze all the forecasts, you will see from the Polcadot prediction chart that they are all ascending.

What is Polkadot new?

Polkadot’s goal is to create a truly decentralized Internet (Web 3.0). They want to encourage the development of blockchain projects by simplifying the development algorithm. These blockchain projects will be integrated with Polkadot, which will ensure that the currency is in demand.

The main “chips” of the network should be: the connection of different blockchains into one network, the release of new tokens, the operation of smart contracts, the ability to download updates without forks, and the management of the network by DOT token holders.

Disclaimer: Please keep in mind that the content of this article is not financial or investing advice. The information provided is the author’s opinion only and should not be considered as direct recommendations for trading or investment. Any article reader or website visitor should consider multiple viewpoints and become familiar with all local regulations before cryptocurrency investment. We do not make any warranties about reliability and accuracy of this information.