In Brief
- After the Bitcoin Price recovery, Polkadot started to gain momentum and shot up 20% hike with a $43.26
- This hike took Polkadot to the last three months top height
- Polkadot announced its most anticipated project “Parachain” for interoperability concept
Today, another blue chip cryptocurrency marked a hike in its market value after Bitcoin started to gain its recovery momentum last week. Polkadot (DOT) shot up 18% and reached $43.24 in the last 24 hours, which shows another positive indication for crypto investors.
After the sharp fall from the peak of $49.75, Polkadot’s market value showed fluctuation in a graph. Today’s hike took Polkadot back to $43.24 and closed at $41.69 which is the top in the last four-month.
Earlier this year, Many cryptocurrencies including Bitcoin, Ethereum, and many others registered a drastic fall from their peak value, where Bitcoin lost 30% in its market value.
But now it seems October came with many benefits for the crypto tokens as most of the cryptocurrencies are showing positive indication in price. Last week Bitcoin recovered and surpassed $55,000 bar, which is the highest in the last 3 months.
This hike has shown after yesterday’s announcement from Polkadot. Yesterday, Polkadot revealed the date November 11 for the launch of its own most awaited blockchain project “ParaChain’. It announced the final phase to launch parachain in May.
Parachain is the specialized blockchain, which is connected to the Polkadot Relay Chain to design the interoperability concept. This might be the reason behind the pump in the DOT price.
In addition, Today Polkadot and its sister chain Kusuma also announced their collaboration to send DOT and KSM as a gift through their blockchain network. This new announcement will allow users to send DOT and KSM to their friends and family members easily, even if they don’t hold an account, address or wallet.
