Coinbase (NASDAQ:COIN) is making a lot of moves to expand its exchange this week. Earlier this week, it announced the addition of three popular altcoins to its Coinbase Pro platform. As of yesterday, Coinbase also shared exciting news about Polkadot (CCC:DOT-USD) — the altcoin is now available for trading on Coinbase Pro and its standard exchange platform. What will this mean for Polkadot (DOT) price predictions?
Polkadot’s model seeks to bring together public and private blockchains into one central ecosystem. The final product is one which investors are increasingly turning to; with a whole host of different blockchain offerings, things can get a little hectic. Polkadot is one of the earliest to the game of interoperability and blockchain scalability. As such, it is one of the largest by market capitalization, with a value of $22 billion.
Coinbase announced on Monday through its blog that it would be adding Polkadot to its digital trading floor. Users could add their DOT to their accounts in preparation for trading, which began today per the company’s announcement.
Polkadot (DOT) Price Predictions: Can DOT Hit Its Stride?
Polkadot is one of the biggest and most reputable plays when it comes to blockchain scaling. But, while its competitors like Polygon (CCC:MATIC-USD) have seen notable upshots as scalability becomes more and more in demand, DOT has been a little more volatile.
This begs the question: Can Coinbase’s listing of DOT be the catalyst for those same big upswings? Let’s take a look at what analysts are predicting for DOT down the line:
- InvestingCube thinks the listing adds to bullishness for DOT. Optimistic predictions by the outlet suggest the coin could break through the $32 resistance levels toward $45.
- WalletInvestor’s 12-month prediction for Polkadot is quite bullish; they forecast a June 2022 price of $73 for DOT.
- CoinPriceForecast doesn’t believe the listing will amount to any significant gains. They predict DOT will close out 2021 with a price of just $28.29, $5 greater than its current price.
- DigitalCoinPrice also predicts only minor gains for DOT in 2021. They price the coin at about $35 by year’s end.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.