Polkadot (CCC:DOT-USD) is one of the busiest networks in the cryptosphere right now. With altcoin season picking up, the DOT coin is surging back toward all-time highs. But beyond the sympathy gains, Polkadot is trying to ensure long-term growth by attracting investors and developers from other platforms. A new series of parachain auctions are dropping for Polkadot’s canary network, and many developers want in. The result of this new sale is prompting a lot of bullishness for the chain, and building interest among investors toward Polkadot price predictions.
Kusama (CCC:KSM-USD) is heralded by developers as the canary network of Polkadot. It’s a sort-of relative to the Polkadot mainnet, where developers test out their products and work out bugs before moving to Polkadot. Both networks are the products of Gavin Wood, an ex-Ethereum (CCC:ETH-USD) employee.
A lot of the excitement around Polkadot today comes indirectly from Kusama’s new parachain auction. The news is a huge announcement for project developers. A parachain is a more boundless space for these developers to experiment within, especially considering the network’s high interoperability and less-stringent parameters. The Kusama network can host up to 100 of these chains, and with thousands of developers looking to get their own, they are in huge demand.
Starting tomorrow, developers will be able to bid on one of five new parachains. And this big news isn’t just boosting projects looking to get their own Kusama workspace; Polkadot’s DOT coin is lifting itself up 19% on the news today.
Polkadot Price Predictions: New All-Time Highs for DOT?
This auction is giving a healthy boost to DOT’s prices, and investors hope to see further growth. Is Polkadot destined to overtake its all-time high of nearly $50 with these auctions? Let’s take a look at some Polkadot price predictions and see what analysts are thinking:
- WalletInvestor thinks DOT will get awfully close to its all-time high in the next 12 months. The outlet’s one-year prediction for the coin prices it at $47.
- CoinPriceForecast suggests that Polkadot will stagnate through the end of the year. The outlet predicts another small growth spurt before closing out December at $39.
- DigitalCoinPrice thinks DOT could be on the doorstep of a new all-time high as soon as December. It forecasts a price of $45 for the coin by then.
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.
