Among the insanity of today’s price action in the crypto world, Polkadot (CCC:DOT-USD) is drawing attention. Investors appear to be looking for answers and seeking out Polkadot price predictions as this coin plunges more than 12%.
One of the more interesting crypto projects, Polkadot provides an intriguing solution to a big problem.
The Ethereum (CCC:ETH-USD) network is the biggest, and generally perceived to be the best, place for developers to build applications on the blockchain. However, given Ethereum’s size and the congestion on the network, speeds are relatively slow and costs are high.
Polkadot provides a unique parachain structure to allow for developers to operate on a parallel blockchain. Doing so avoids the congestion of the Ethereum network. Accordingly, many think of this as adding on additional lanes to a congested highway. Polkadot’s blockchain network allows for more to be done, expanding the crypto universe. Thus, this project is one that has garnered significant attention in recent months.
However, today’s selloff among major cryptocurrencies has eaten into Polkadot’s allure. Is now a great time to load up on this top crypto at a discount? Or will this selloff continue? Time will tell.
For now, let’s look at where the experts see this coin headed from here.
Polkadot Price Predictions
For context, DOT currently trades at $21.80.
- WalletInvestor provides a 1-year and 5-year price target of $49.33 and $138.84, respectively, for DOT.
- Similarly, Gov.Capital puts forward 1-year and 5-year price targets of $124.95 and $983.27.
- Finally, DigitalCoinPrice provides 2023, 2025 and 2029 price targets of $36.10, $45.01, and $93.16, respectively, for Polkadot.
On the date of publication, Chris MacDonald 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.