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.
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.
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.