DOT exceeds $ 50 for the first time as parachain auction approaches

Polkadot: auctions for parachains arrive on November 4

Polkadot announced the news yesterday, via the project’s Twitter account. The blockchain governance council has confirmed that the registrations of parachains, as well as the launch of โ€œcrowdloansโ€ – crowdfunding – will be subject to a referendum.

Parachains are interconnected blockchains that underpin the entire Polkadot ecosystem. It is on these that developers can build their projects, and their use is subject to auction.

The launch of these crucial features is therefore currently the subject of a referendum. On the Polkassembly site, we can see that the vote is in favor of “yes”. This means that teams wishing to use the Polkadot parachains will be able to register one as of November 4. Crowdloans will also be unlocked on the same date.

๐Ÿ‘‰ Learn more about how Polkadot (DOT) works

DOT price hits new record

This breakthrough is of course crucial for the Polkadot project, and the DOT price seems to have reacted to the news. Yesterday, he broke the psychological threshold of $ 50 for the first time, temporarily reaching $ 51.5. In less than a day, the price jumped by + 23%:

DOT Polkadot course

Source: TradingView, DOT / USDT

DOT briefly took the luxury of overtaking Ripple’s XRP in the ranking of the most capitalized cryptocurrencies, before falling back slightly. It ranks 8th this morning, just ahead of the absurd altcoins-memes Shiba Inu (SHIB) and Dogecoin (DOGE). DOT’s capitalization now exceeds $ 50 billion.

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About the author: Marine Debelloir

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Associate Editor on Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that arise from the blockchain and I like to find the most delicious information to share with you.
All articles by Marine Debelloir.

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