Read our analysis on Will Polkadot Reach $10000 and also read about the future Price Prediction of DOT
Polkadot has lost over 75% of its value this year. The 11th largest cryptocurrency in terms of market cap was trading close to $30 in the first week of January 2022 but now it is trading below $10.
Polkadot’s all-time high price was $55, 9 months ago. This suggests the potential of Polkadot to rise higher. However, for Polkadot to reach $1000 from the current price it will have to rise 140 times. Though it may seem unlikely as of now but in the world of cryptos nothing can be denied.
Before we discuss how and when Polkadot can reach $1000, here are some facts about Polkadot:
Will Polkadot Reach $10000: Some Facts
- Polkadot is amongst the unique cryptocurrencies or blockchain networks. Its interoperability, energy efficiency, and customized blockchain development paired with a cross-chain / ‘para chain’ combination make it a unique blend for any developer.
- DOT is the native cryptocurrency of the Polkadot Blockchain.
Here are a few uses of Polkadot:
Governance: Governance in blockchain means how a transaction and block can be verified based upon the rules and how the rules can be enforced. Polkadot provides a facility of Governance through its proof of stake consensus.
By this function, even the fees of the network are determined. These functions are not formally granted to DOT holders, but rather the underlying code of Polkadot will enable DOT holders to participate in governance.
Staking: Polkadot provides a medium for rewarding the holders by the process of staking. Game theory incentivizes token holders to behave in honest ways. In order to secure its network, Polkadot rewards the good actors while the bad actors will lose a stake in the network.
Bonding: Bonding is a form of proof of stake. By this new parachains are added to the Polkadot network. The DOT will be locked during their bonding period and will be released back to the account that bonded them.
Will Polkadot Reach $10000: Future Price Prediction
Average Polkadot Price Prediction 2022: $9.27
Average Polkadot Price Prediction 2025: $24.5
As per the aggregate prediction, the price of Polkadot will remain below $10 by the end of 2022. Even by the end of 2025, at the current momentum, DOT will be lower than its ATH.
Polkadot Price Prediction 2022: Calculation
At the current price, if DOT gains 5% a month, by the end of 2022, DOT would be Priced at $8.82.
If DOT manages to gain 10% a month from now, the Polkadot Price Prediction 2022 will be $10.62.
If the market condition improves and DOT surges around 20% or 30% a month, then Polkadot could reach $18.06 and $26.95 respectively by the end of 2022.
Will Polkadot Reach $10000: When and How Can Polkadot Reach $10000?
Considering the price of Polkadot rises 20% a year from now, then in the next 52 years, we may see DOT at $10,000. Therefore, if DOT gains 20% a year, by 2077 DOT will be priced at $10,000.
If there is a further improvement in the market condition and DOT gains 30% a year, then in the next 37 years, DOT will be valued at over $10,000.
If the price surges 50% a year, then by 2046, Polkadot’s price will be over $10,000.
Can Polkadot Reach $10000: Polkadot Video Analysis
Can Polkadot Reach $10000: Conclusion
It is highly unlikely for Polkadot reach $10000 this year. Considering the current market condition the price of Polkadot by the end of 2022 could remain below $20. However, if the market condition improves, in future, we may see Polkadot price over $10000.