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You are here: Home / News / Altcoin News / Polkadot parachain hype continues to build up bullish sentiment in the market, sets new ATH
Polkadot

Polkadot parachain hype continues to build up bullish sentiment in the market, sets new ATH

November 2, 2021 by Parth Dubey

Polkadot’s parachain auction approval is coming close to their release as the DOT token has reached a new all-time high. In the tweet from Polkadot’s official Twitter handle, the network announced that it would be enabling the parachain registration soon after the motion gets approved following a public referendum.

In their tweet, the Polkadot foundation gave an update on the recent developments, telling its 800K followers that the motion was already passed by the council of Polkadot.

“The motion to enable parachain registration and crowdloans has passed Polkadot’s council and gone to a public referendum. If passed, parachain teams will be able to register their parachain and open their crowdloan on Nov. 4, 2021 at approx. 19:15 CET.”

Polkadot Twitter handle

The Twitter handle also retweeted a tweet by Bill Lagoon, the Director of Education and Community at Web3 Foundation, stating that Referendum 42 for parachain registration is up for voting.

THREAD – @Polkadot Digest 2 Nov 2021#Polkadot News

Referendum 42, to upgrade Polkadot to runtime 9122, is currently up for vote. This runtime upgrade will allow parachain registration and crowdloans to begin on 4 November. https://t.co/j37wfCOtDp

— Bill Laboon | Web3 Foundation (@BillLaboon) November 2, 2021

Polkadot (DOT) token reaching a new all-time high

Many analysts have turned bullish on the DOT price in the near term. Lark Davis, a renowned analyst and a YouTuber known for his bullish stance on Ethereum, claimed that the price of DOT might reach at least $100 in the short term.

If #cardano could hit around 100 billion market cap on smart contract hype, then Polka $dot can probably come close based on parachain hype! $100 DOT coming

— Lark Davis (@TheCryptoLark) November 1, 2021

Talking about the bullish momentum that followed Cardano’s price surge, leading to a new all-time high, Lark Davis pointed out the similarities. A few weeks back, Cardano rose to a new all-time high, capturing a market capitalization of $100 billion after the announcement of the smart contract integration in the network.

Lark Davis claims that a similar bullish momentum can follow Polkadot’s new parachain registration approval, and once the motion passes the public referendum, DOT could surge up to a high of $100.

In today’s daily candle, the DOT token reached a new all-time high at $53.25, following the news of the parachain auctions. Once approved, this would invite a lot of developers to build their DApps on the blockchain with great ease.

Filed Under: Altcoin News, News Tagged With: polkadot

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