Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

This week, the price of Polkadot [DOT] crossed $5.50 amid the ongoing bull run— A price mark untouched since July. The token had a market cap of $6.59 billion at press time, making it the 15th largest cryptocurrency.

Many in the community remain optimistic too, with some like Crypto Tony remaining bullish on DOT. This, even as the token couldn’t sustain its price movement above the $5.50-mark.

$DOT / $USD – Update

Slight rejection here, but a safe long is if we can reclaim the highs at $5.75 .. And hold above $5.10 pic.twitter.com/OxcTJ8BOaN

— Crypto Tony (@CryptoTony__) November 16, 2023

Polkadot, Parachains… Exploring the fundamentals

Before we venture into analyzing DOT’s price movements and future trends, it is crucial that we understand the related underlying technologies within the historical context of Web 3.0.

Polkadot is a multi-chain blockchain platform designed for interoperability in the Web 3.0 era. Its core function is to bridge disparate blockchains, whether private, public, or permissionless, into a cohesive network.

The project was started by Ethereum [ETH] co-founder Gavin Wood, Peter Czaban and Robert Habermeier. Wood published the protocol’s Go to Source to See Full Article
Author: Suzuki Shillsalot

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