Polkadot (DOT) Price Reaches $6.53 on Exchanges

Polkadot (DOT) traded up 4.4% against the dollar during the 24 hour period ending at 22:00 PM E.T. on September 22nd. Polkadot has a total market capitalization of $8.06 billion and approximately $314.36 million worth of Polkadot was traded on exchanges in the last 24 hours. In the last week, Polkadot has traded 7.4% lower against the dollar. One Polkadot coin can currently be purchased for about $6.53 or 0.00033737 BTC on exchanges.

Here’s how other cryptocurrencies have performed in the last 24 hours:

  • Zoo Token (ZOOT) traded 2.2% lower against the dollar and now trades at $0.0504 or 0.00000261 BTC.
  • CareCoin (CARES) traded down 99.8% against the dollar and now trades at $0.0626 or 0.00000324 BTC.
  • OmniaVerse (OMNIA) traded 5.2% higher against the dollar and now trades at $0.0044 or 0.00000023 BTC.
  • Euro Coin (EUROC) traded 0% lower against the dollar and now trades at $0.83 or 0.00004289 BTC.
  • Jeff in Space (JEFF) traded flat against the dollar and now trades at $2.13 or 0.00010983 BTC.
  • AXIA Coin (AXC) traded 0% higher against the dollar and now trades at $13.43 or 0.00069573 BTC.
  • MVP Coin (MVP) traded down 28.6% against the dollar and now trades at $2,053.00 or 0.10636024 BTC.
  • Lumi Credits (LUMI) traded up 1.4% against the dollar and now trades at $0.0051 or 0.00000026 BTC.
  • Tarality (TARAL) traded 11.3% lower against the dollar and now trades at $0.0008 or 0.00000004 BTC.
  • The Web3 Project (WEB3) traded up 213.7% against the dollar and now trades at $517.71 or 0.02213862 BTC.

Polkadot Coin Profile

Polkadot was first traded on August 18th, 2020. Polkadot’s total supply is 1,234,899,892 coins. Polkadot’s official message board is medium.com/polkadot-network. The official website for Polkadot is polkadot.network. Polkadot’s official Twitter account is @polkadotnetwork and its Facebook page is accessible here. The Reddit community for Polkadot is https://reddit.com/r/dot and the currency’s Github account can be viewed here.

According to CryptoCompare, “What is Polkadot?Polkadot is a blockchain network often described as a “blockchain of blockchains,” as it allows users to launch and operate their own blockchains on top of the main Polkadot blockchain. This main blockchain, called the relay chain, does not support smart contracts, but other blockchains connected to it can support them.As a result, Polkadot is set to become a growing ecosystem of cryptocurrencies that competes with other smart contract networks such as Ethereum, the Binance Smart Chain, and more. It was launched in 2020 and brings a number of technical features that help it reach its goal.The user-created blockchains, called parachains, benefit from the same security of the relay chain where transactions are permanent, but can be customized by the users. Polkadot’s design allows it to become a network of blockchains with secure transactions and varying features, all while using the resources of its relay chain.Polkadot’s design is new and unique, but developers and users are able to experiment in a real economic environment called the Kusama network. Kusama can be seen as a sandbox for users and developers to test early versions of what will be launched on Polkadot in a network with a valuable cryptocurrency traded on the open market.Polkadot will also include bridges, which allow the Polkadot network to interact with other blockchains. Through bridges, Polkadot users will, for example, be able to swap tokens without a centralized exchange.What Is DOT Used For?DOT is the native cryptocurrency of the Polkadot network and serves as its governance token. DOT holders can stake their tokens to vote on network upgrades and help decide the future of Polkadot by actively participating in its governance.DOT holders can influence the project’s governance by voting on changes, and by electing the Council members. These are responsible for proposing changes and determining which ones are made to the software.Staking DOT also yields returns as holders are at the same time securing the network and validating transactions. Polkadot rewards DOT stakers with newly minted tokens based on the amount they are staking.DOT can also be bonded to connect a chain to Polkadot as a parachain. The token has the ability t be locked for a specific period to secure a parachain slot in the network.Who Created Polkadot?The Polkadot project was founded by Ethereum co-founder Gavin Wood, along with Peter Czaban and Robert Habermeier in 2016. Wood is the developer behind Solidity, the coding language used to write smart contracts on Ethereum and has experience as a research scientist at Microsoft.Wood is the president of the Web3 Foundation, a non-profit organization that conducted Polkadot’s token sales. The foundation was co-founded with Pete Czaban and received 30% of the proceeds. IT oversees the allocation of funds to further the development of Polkadot.The Web3 Foundation also maintains Polkadot’s open-source code and supports its use.Where Can You Buy DOT?The cryptocurrency is currently being traded on most top cryptocurrency exchanges, including Coinbase, Kraken, Binance, OKEx, and others. You can find out more about Polkadot and its trading volume on our analysis tab.”This page refers to the new DOT which is 100x smaller than the old DOT (the DOT token underwent a redenomination from its original sale on 21 August 2020 at 16:40 UTC, block number 1,248,328)””

Buying and Selling Polkadot

It is usually not currently possible to purchase alternative cryptocurrencies such as Polkadot directly using US dollars. Investors seeking to acquire Polkadot should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Polkadot using one of the exchanges listed above.

Receive News & Updates for Polkadot Daily - Enter your email address below to receive a concise daily summary of the latest news and updates for Polkadot and related cryptocurrencies with MarketBeat.com's FREE CryptoBeat newsletter.