POLKADOT only launched as a token in 2020 and has quickly grown to be one of the biggest cryptocurrencies in the world.
But what exactly is Polkadot and what is its predicted price in 2030?
What is Polkadot?
Polkadot is a blockchain protocol with its own token that aims to help connect different platforms.
It was first developed as a project in 2016 by Gavin Wood, the co-founder of Ethereum, but was not until a few years later that it was properly up and running.
The Polkadot protocol aims to allow various different blockchains two interact with one another so that they can share data. For example, the Ethereum and Bitcoin blockchains can interact using Polkadot without the requirement of a mediator.
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It also operates at an impressive speed and is able to process more than 1,000 transactions per second. In contrast, Bitcoin processes approximately seven transactions per second, and Ethereum processes 30.
The protocol is governed by its own token, listed as DOT. The Polkadot coin was launched in August 2020 and quickly grew in popularity.
DOT is now one of the top 15 cryptocurrencies in the world based on market cap.
As well as being traded for investment, the Polkadot token has an important role within the blockchain protocol.
DOT is used as the protocol’s governance token. It allows holders to vote on the future of the protocol.
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Polkadot price prediction 2022, 2024, 2024, 2025, and 2030
PricePrediction is expecting the value of Polkadot to rapidly increase this decade. By the end of 2022 it thinks the price will be $6.45. It then forecasts growth to a value of $9.46 in 2023, $13.61 in 2024 and $19.59 in 2025.
It predicts the price of Polkadot by the end of 2030 will $130.51.
The website DigitalCoin anticipates similar growth over the next two years but is far more cautious about the increase in value by 2030.
It predicts that by the end of 2022 the price will be $5.72. Its price will rise to $9.38 in 2023, $12.25 in 2024 and $15.21 in 2025.
However, it predicts that by 2030 its value will be $32.12, far lower than PricePrediction’s forecast.
Where to buy Polkadot
Polkadot can be bought on a number of large cryptocurrency exchanges using fiat currency such as US dollars.
Binance, Coinbase and Kranken all allow the purchase of DOT using fiat.
It can also be bought on a number of other exchanges ushc as eToro that allows investors to purchase Ethereum to then trade for Polkadot.
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How risky is investing in cryptocurrency?
Cryptocurrency prices are well known for their volatility, often seeing large price increase and drops with very little notice.
They are also subject to very little financial regulation.
You should always thoroughly investigate cryptocurrencies for yourself before deciding whether to make an investment.