Polkadot (DOT) Price Remains Low, Analyst Says Bull Run Around the Corner!
- The much-anticipated crowd loans are a buzz.
- Acala has already amassed $489 million in TVL.
Polkadot has been in the top 10 coins internationally. Solid advancements back the protocol, which has proven vital in the network’s expansion. Parachains have evolved with the Polkadot ecosystem. The parachains are deeply rooted in Polkadot and its canary network Kusama.
Polkadot’s parachain auctions have been running since the previous day. The much-anticipated crowd loans are a buzz. Despite the start of parachain auctions, the DOT price remains low. Some predict the asset to develop bullish momentum and rise to a 3-digit milestone quickly.
Achievable Target for the Digital Asset
The much-anticipated parachain auctions are now live with the first ten auctions. CROWD loans have made traders rich at the Kusama auctions. Several initiatives have received huge financing. The DeFi network Acala on Polkadot has generated over $600 million.
According to certain reports, Acala has already amassed $489 million in TVL ahead of its debut on Polkadot. The DeFi initiative is ranked second with 15.6 million DOT. Moonbeam Network’s offer is 17.41 million DOT. The crowd loan events include Acala, Moonbeam, Parallel finance, Astar, Mantan Network, Clover finance, literary, and SubDAO.
Five days after the Polkadot debut, parallel financing has surpassed $300 million in TVL. Banking application Current join hands with Acala intends to build new hybrid financing. With standard and decentralized banking apps. Moreover, Binance has contributed Polkadot to the crowd loans. Also, over 4% of DOT supply has been bid and secured for the first round of parachain auctions.
Netizens are disappointed with DOT’s slow speed and fear of purchasing rumours market the news like an event. Rather, the crypto proponent considers the first two days of the auctions a warm-up. This week will be significant for the network. Furthermore, he also says the Polkadot network picks a random moment in the previous five days. The current highest bidder wins the auction. An analyst also sets DOT’s price target for the year at $100. This seems to be an achievable goal for the digital asset.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
