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You are here: Home / Archives for polkadot

polkadot

Rock icon, Gene Simmons to sell mansion in exchange for cryptocurrency

February 3, 2022 by Aishwarya shashikumar

Kiss’s bassist and vocalist, the rock icon and a successful entrepreneur Gene Simmons who is also known for the early adoption of cryptocurrency, announced on 1 February 2022 that he will accept cryptocurrency as a medium of exchange for his Las Vegas Estate. The estate is currently listed on the market for $13,500,00.

Simmon’s modern desert mansion is located in the Ascaya community in Henderson, south of the Las Vegas strip. The mansion is more than 11,000 square feet, being well perched above the valley, and with a private orchard adjacent to it.

Rock legend @GeneSimmons is selling his home in Henderson's Ascaya community for $13,500,000 and says he will accept cryptocurrency as payment.

Bitcoin, Ethereum, Litecoin, Uniswap, Polkadot, Litecoin, Aave, Try — or a combination of those. pic.twitter.com/HlTHZkrJfX

— Las Vegas Locally 🌴 (@LasVegasLocally) February 2, 2022

The rock icon has asserted to accept payments through either Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Try.Finance, Uniswap (UNI), Polkadot (DOT) or Aave. He has also said that aggregation of all these coins would be accepted as well.

In perspective, Kiss’s bassist and vocalist, Simmon’s, told Blabbermouth,

“I have been an outspoken proponent of cryptocurrency from the beginning. It is the future of money, and it just makes sense to offer interested parties the option of using cryptocurrency to purchase the estate.”

It has come to light, that The Ivan Sher Group of Berkshire Hathaway Home Services Nevada Properties was selected to represent the rockstar’s luxury estate. Furthermore, Evangelina Duke Petroni, the salesperson in charge, of Berkshire Hathaway Home Services clarified that parties interested in purchasing the mansion should be verified through closing costs, along with commissions and taxes.

The rockstar goes way back with crypto

The bassist and vocalist of the classic rock band Kiss, spoke about cryptocurrencies on Twitter about a year ago, on 1 February 2021. A few months before this, Simmons tweeted about the subject with Cameron Winklevoss on 15 September 2020.

I will. I am. https://t.co/GQJMpDUYCH

— Gene Simmons (@genesimmons) September 15, 2020

This message was decoded eventually when the Simmon’s said that he bought and now owned some digital currencies. Through the tweet, he made it clear that he wasn’t recommending it to anyone, but he had bought and will own Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and others.

Furthermore, Simmons joined forces with the Tesla founder Elon Musk and hip hop star Snoop Dogg, to show support of Dogecoin (DOGE).

Screenshot 12
Rock icon, Gene Simmons to sell mansion in exchange for cryptocurrency 2

The rockstar, also known for his on-stage persona as ‘The Demon’ embraced Dogecoin through this tweet and disclosed that he had bought the meme token.

Filed Under: News, Altcoin News, Bitcoin News, World Tagged With: Bitcoin (BTC), Cryptocurrency, digital assets, Digital Currency, Dogecoin (DOGE), Ethereum (ETH), gene simmons, Litecoin (LTC), polkadot

It’s raining Parachains! Polkadot’s [DOT] first 5 projects go LIVE

December 18, 2021 by Lipika Deka

Polkadot [DOT], a blockchain interoperability platform has announced the arrival of its five parachains into its network, marking a pivotal point in the interconnected blockchain technology domain as well as demonstrating its multi-chain capabilities. According to the press release, the name Parachain refers to a set of individual blockchains that runs in tandem with the ecosystem and is now finally released on the network after five years of meticulous research.

The first five to win the slot on the Polkaldot’s relay chain are Acala, Moonbeam, Astar, Parallel Finance, and Clover, which would continue to be under a lease up to 96 weeks at a time. Each of these para chain groups would be focusing on a variety of topics ranging from decentralized finance [deFi] to investments and loans, as well as smart contract functionality. The next batch of para chain auctions will be launched on Dec. 23, this year. and the winners would be announced on March 11, 2022.

It is noteworthy to mention that Polkadot has been hosting parachain slot auctions since Nov. 1, 2021. So, Projects aiming to win a slot host crowd loans to raise DOT tokens and staked the received coins to bid on parachain slots. The first such parachain slot was won by decentralized finance (DeFi) platform Acala with Moonbeam, an Ethereum smart compatibility protocol holding the second slot.

Talking about interoperability, despite the rise of several public blockchains, sending tokens and data across chains poses challenges because every blockchain ecosystem is fragmented and the emerging interoperable bridges are generally considered risky due to their reliance on centralized processes like token wrapping. 

Polkadot’s Parachain mechanism

In order to address this interoperability issue, Polkadot‘s network executes cross-chain communication at the protocol level and secures Layer1 parachains through a process called shared security. Speaking more on the parachain model and the value they create in the Web3 domain, Creator Gavin Wood stated,

“The parachain model was created with the belief that the future of Web3 will involve many different types of blockchains working together. Just as the current version of the Internet caters to different needs, blockchains need to be able to provide a variety of services. Parachains solve this.”

Filed Under: Altcoin News, News Tagged With: parachains, polkadot

Polkadot [DOT] preps for a trend reversal; Bulls to propel DOT towards $30?

December 14, 2021 by Sahana Kiran

Drowning in red, the entire crypto market was desperate for a bullish sight. Polkadot [DOT] seemed to be steering in the direction of the bull. The bullish bandwagon was entering the market at the right time as the coin was on the brink of slipping down to $20.

Meanwhile, other crypto-assets were being tested by the bear. Bitcoin [BTC], continued its stay below the $50K zone. During press time, the king coin’s price was noted at $47,137 with a 3% daily drop. Bitcoin’s market cap took a huge hit as $1 trillion was quite far away from its current value, $888.88 billion.

During the pandemic, Polkadot [DOT] emerged as a prominent coin of the crypto-verse. The asset continued its stature despite encountering a few hurdles pertaining to ranking on the way. The entry of new coins sidelined coins that have been existing for quite some time now, however, DOT managed to stay afloat and didn’t slip below the top ten.

At the time of writing, DOT’s market cap was at $1.21 billion while it took over the ninth position.

Moving over to its price, Polkadot was trading for $26.13 with a 7.40% reduction in the last 24-hours.

Polkadot [DOT] one-day price chart on Binance

Polkadot
Polkadot [DOT] preps for a trend reversal; Bulls to propel DOT towards $30? 4

The one-day price chart of Polkadot was noted that the altcoin was gearing up for a change in its trend. The bears had strained the altcoin and the bulls were bringing in better days. The Parabolic SAR indicator laid out a line of support below the price candles. This line would prevent the asset from undergoing any untimely drops. The Awesome Oscillator followed suit by putting forth green closing bars and announcing the presence of the bull.

The Relative Strength Index [RSI] indicator, however, remained still in the sellers’ arena. The RSI marker was found drowning below the 50 median, extremely close to the oversold zone.

Filed Under: News, Altcoin News, Market Analysis Tagged With: polkadot

Polkadot [DOT] prolongs its struggle to get over $30 following strong bearish winds

December 8, 2021 by Sahana Kiran

The crypto market was hit by a massive bearish tornado. Polkadot [DOT], Avalanche [AVAX], Shiba Inu [SHIB] were among the assets that endured major losses over the last couple of days. Bitcoin [BTC], decided to rest below the $50K zone. During press time, the king coin was trading for $49,178 with a 5% drop over the last 24-hours. Additionally, BTC was no longer part of the $1 trillion club.

The altcoin market didn’t have much luck either. Most of the coins were plummeting. Ethereum [ETH] was trying hard to retain itself above $4K. XRP, however, had taken a hit as it dived down below $1.

Polkadot [DOT] was quite the star a couple of weeks ago, specifically during the parachain auctions. The altcoin even hit an all-time high of $55. This bullish strain was interrupted as the bears emerged stronger in the altcoin’s market.

At the time of writing, DOT was trading for $28.42 with a 4.33% dip in the last 24-hours. Over the previous seven days, Polkadot witnessed a drop of nearly 24%. This wasn’t surprising as the entire market was undergoing a similar notion.

Furthermore, Polkadot went downhill in terms of ranking. The altcoin’s market cap was noted at $28.1 billion. The asset sat as the ninth-largest cryptocurrency, right above Terra [LUNA].

Polkadot [DOT] one-hour price chart on Binance

Polkadot
Polkadot [DOT] prolongs its struggle to get over $30 following strong bearish winds 6

The short-term price chart of Polkadot was overpowered by the bears. The Parabolic SAR indicator framed dotted lines over the price candles. This line acted as a barricade against any possible upward movement further making the pattern extremely bearish.

The MACD indicator went on to lay out a bearish crossover with the signal line overtaking the MACD line. Consequently, the Relative Strength Index [RSI] stayed below the 50 median further indicating a sellers’ market.

With all these signs bending towards the bears, the chances of DOT crossing $30 would remain bleak for a while.

Filed Under: News, Altcoin News, Market Analysis Tagged With: polkadot

DOT hovering over monthly lows but, accumulation is on the rise; Bulls to take over?

December 2, 2021 by Parth Dubey

DOT prices are bearish for a second consecutive day as the prices fall by nearly 2.6%. The trading volume has also fallen as well as the market cap. The prices have been at the lowest levels in the past 30 days.

In the past 30 days, the token rose to an ATH above $55 and fell to a low price of $32.75. Currently, the token is at $35.7 and aims for higher prices, but the volumes are not enough.

Data from CoinMarketCap shows that the trading volume of the token dropped by over 24.93% and is currently at $1.16 billion, while the market cap of the token dropped by 4.76%. The market rank of Polkadot is 9th, with a market cap of $35.1 billion.

The prices opened today’s daily candle at $36.76 and reached a daily low of $35.05. The daily high stands at $36.79, while the overall trend is bearish following the crash in mid-November.

DOT price analysis on the daily chart

The daily chart shows that the DOT token is currently under bearish pressure as the prices fell below the 50-day Moving Average as well as the 100-day Moving Average. If such conditions continue to prevail, we can expect lower prices for the token.

The Polkadot price chart below shows that the accumulation of the token continues to increase. The trend is bearish while the A/D line is still rising. A bullish breakout is possible for Polkadot soon.

DOT price analysis
Polkadot price analysis on the daily chart by TradingView

The MACD line is progressing below the signal line, which is a bearish sign indicating lower prices. However, the two lines are closing in, and the possibilities of bullish divergence are increasing.

The RSI levels have entered the bearish region, and the gradient is negative. This means that lower prices are possible as prices are entering the overbought region.

image 1
price analysis on the daily chart by TradingView

Filed Under: News, Altcoin News Tagged With: DOT, polkadot

DOT prices sliced by 12%, trading volumes surge as investors buy the dip

November 27, 2021 by Parth Dubey

Polkadot (DOT) prices dropped by more than 12% as the daily candle for Friday opened at $39.48, reaching a high of $39.62. What seemed like an uptrend turned into a bearish fall as the candle closed at $34.56 after touching a daily low of $33.67.

As per data from CoinMarketCap, DOT’s trading volume rose by 81.65% and currently stands at 2.24 billion USD. On the other hand, the asset’s market capitalization dropped by more than nearly 9% and was noted at $43.8 billion.

The trend is bearish as we have witnessed three consecutive weekly candles on the weekly chart. After making the all-time high at $55, the prices are down by 35.93%.

DOT price analysis on the daily chart

The 50-day and 100-day Moving Averages continue to progress below the price action, indicating a long-term bearish momentum. These price levels act as important support.

The prices broke out from the lower end of the Bollinger Bands, leading to a drastic 12% drop in prices. Currently, the prices remain in the lower end of the Bands, waiting for the bulls to over.

DOT price chart
DOT price chart by TradingView

The MACD indicator shows that the MACD line (the blue one) has broken below the signal line (the orange line), leading to a bearish divergence. This caused a drop in the price and a bearish histogram filled with red bars.

The RSI indicator is clearly in the bearish zone, i.e., below the 50-level. The selling is pressure is very high as traders are capitalizing on the gains made in the past few weeks. Furthermore, the RSI gradient is positive, and we might see higher prices today

DOT price chart
DOT price chart by TradingView

Conclusion

The DOT price action is bearish for today, and it is a good time to buy the altcoin before higher prices set in. The Parachain Auctions that installed a bullish notion might continue to drive the coin higher.

Filed Under: News, Altcoin News Tagged With: DOT, polkadot, Price Analysis

DOT prices rebound as market tries to overcome bearish trend

November 19, 2021 by Parth Dubey

A few days ago, the market turned bearish as Bitcoin fell 16% from its all-time high at $69,000. DOT prices have also been bearish, currently 26.89% down from its all-time high witnessed on Nov 5.

While the market retains its bearish stance, the entire crypto industry is looking to regain lost support levels. As per data from CoinmarketCap, the 24-hour trading volume for Polkadot [DOT] rests at 2.1 billion USD, which is a hike from 31.30% in the last 24-hours.

On the other hand, the market capitalization of the token rests at $39.7 billion, awarding the 8th rank to Polkadot. The price action still lacks volume on the daily chart.

DOT price analysis on the daily chart

Polkadot recently hosted its first parachain auctions that turned the prices bullish for the token. The price action saw a new all-time high, with Acala winning the first round for the parachain auction.

Furthermore the technical indicators have turned bearish for the price action. The price momentum is trying to break down from the lower end of the Bollinger Bands as bears take over the market.

The 100-day Moving Averages remain below the price action while the prices drop below the 50-day Moving Average.

DOT
Polkadot price analysis on the chart by TradingView

The RSI entered the bearish zone, moving towards the 40-level. However, the market remains bearish on the whole. The gradient has turned positive, i.e., higher prices are possible for the near future.

The MACD line is also bearish with a histogram full of red bars and the orange line (signal line) progressing above the MACD line (the blue one). The selling pressure is high as buyers are unable to take the prices higher.

DOT chart
Polkadot price analysis on the chart by TradingView

Conclusion

As inflation continues to thrive, deflationary assets are now in-demand. While the entire market is still stabilizing, Bitcoin will definitely move higher in the coming weeks, and so will Polkadot.

Filed Under: News, Altcoin News Tagged With: DOT, polkadot

Polkadot tries to gear up for an upward rally but volumes say otherwise

November 16, 2021 by Parth Dubey

Polkadot is following the same path as Bitcoin, with a slight upward movement of 1.5% on the daily chart. As per the data by CoinMarketCap, the trading volume of the coin is down by 3%, sitting at $1.05 billion. On the other hand, the market capitalization has risen to $46.7 billion, by nearly 2%.

The DOT surged by more than 50% in October, closing the month with a green candle at $42.7. November has not been really aggressive for the coin as it’s the middle of the month, and the coin has only risen by 10% (which is pretty decent). However, November gave the coin a new all-time high of $55 as it breached its previous ATH at $49.7 recently.

The nearest resistance is around the $52 zone, and Polkadot will definitely be eyeing that. 

Polkadot price analysis on the 4-hour chart

As per the price analysis on the 4-hour chart, Polkadot is strongly recovering its previous down movement. The daily candle opened at $46.4, with the highest daily price recorded at $47.4. The coin is currently trading at $47.2. 

The 50-day and 100-day moving averages are progressing below the coin’s price and acting as solid support for building a bullish scenario.

Looking at the Bollinger Band indicator, we can clearly see that the price action is approaching the upper edge of the band when the band is narrow, which indicates low volatility in the short term. We might see an upward breakout if the band accepts the approaching candle.

CYfhyrOJIhT9oPRbZMn6CVi5Nvi YW158wfBXNWwq9Xba7PrILAnPzcxpDBaX2ZxdoDOluIJmbJPkIuuDTJFomKg1FR22xIvxIKzAyDG ioJa2WPPaB9LM64v6qUoMQvJ9 GBHcU
Polkadot price analysis on the chart by TradingView

The RSI Indicator confirms the bullish momentum in the coin as the gradient is above 50 levels and is positive. The upward gradient also confirms the possibility of a major breakout. On the other hand, the MACD indicator is also signaling a bullish mood as the signal line (orange) is clearly below the MACD line (blue).

Polkadot
Polkadot price analysis on the chart by TradingView

Final Verdict

Polkadot price action is bullish, but we might see some sideways movement in the short term. The DOT bulls aim to breach the recent ATH, which will be a major milestone for the coin.

Filed Under: News, Altcoin News Tagged With: polkadot

Another half-century for Polkadot [DOT]? Bulls say why not

November 2, 2021 by Sahana Kiran

The market was slowly turning green and Polkadot [DOT] was leading this trend. The altcoins were back in the game. However, the meme coins that had been making immense noise over the last couple days were seen taking a breather. Both, Shiba Inu [SHIB] as well as Dogecoin [DOGE] were painted red while most the asset were busy amassing profits.

Bitcoin [BTC] didn’t shy away this time. The king coin was witnessing a dainty surge which further pushed it on to $63K. Ethereum [ETH] was residing in the $4K zone and didn’t want to be disturbed.

Cardano [ADA] and Solana [SOL] were also in the red zone. However, they were trying to flip over this notion and move on towards the greener side.

Polkadot [DOT] hits new ATH

Polkadot [DOT] was the star of the market. The parachain auctions seemed to be paying off considering the altcoin’s 15% daily surge. Not only did this push aid in accelerating the asset over $50 but it also helped DOT secure a new all-time high of $53.25.

At the time of writing, Polkadot was experiencing a slight correction as it was trading at $52.25. Over the past couple of days, the asset garnered profits up to 18.87%,

With regard to its market cap, DOT maintained its stronghold on the eighth position. The market cap of DOT was noted at $51.6 billion. While SHIB was just behind DOT, the chances of the former flipping the latter were still bleak.

Polkadot [DOT] one-hour price chart on Binance

Polkadot
Another half-century for Polkadot [DOT]? Bulls say why not 16

The bulls were in DOT’s court and ready to play. The Awesome Oscillator indicator used in the one-hour price chart of Polkadot laid out green closing bars, further announcing the presence of the bull. This was followed by the MACD indicator as it went ahead and formed a bullish crossover. Earlier today the MACD line changed the notion of the market by rising over the signal line.

DOT was being overtly purchased. The Relative Strenbgth Index indicator said so as the RSI marker was at a high of 69 median.

Filed Under: News, Altcoin News, Market Analysis Tagged With: 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

— BillLaboon (@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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