What does 2022 boast for Polkadot (DOT) investors?
Polkadot (DOT) is a cryptocurrency project offering multiple financial solutions. The platform facilitates cross-chain data transfers while providing parachain and decentralized finance solutions. The protocol’s native coin, DOT, also presented various benefits to investors since the launch. Starting at a mere $0.29 per token, the currency aw a whopping 9,900% value increase.
As we welcome 2022, crypto fans might have various questions on what the coming year has for Polkadot. This content evaluates 2021’s price movements and what market players can expect in the coming year.
DOT Gained More Than 240% This Year
Polkadot is among the cryptos that saw an impressive performance in 2021. Various factors contributed to the coin’s surge. DOT started its uptrends in 2021 January, extending upward actions that began in 2020 December. The crypto rose bullish waves, peaking at around $47.9 during 2021 May bullishness. Nevertheless, the worst happened, crashing Polkadot back to $11.
However, the coming months saw DOT on another bullish rally, attaining its all-time high at $53.87 on November 4. As 2021 ends, DOT stands around $28. Statistical data shows that Polkadot gained a staggering 240% this year. Nevertheless, what led to that growth?
Polkadot mimicked Bitcoin price movements. The altcoin saw bullish moves as 2021 started while BTC benefited from different factors, including halving. However, the bearishness that followed impacted DOT as it crashed. Polkadot also enjoyed support from its developments, attracting many developers with its expansion into the DeFi marketplace.
Polkadot (DOT) in 2022
Market players can expect Polkadot to expand its DeFi network. As the platform ended 2021 with around 400 projects, investors can expect dozens of new projects on Polkadot’s network. Also, existing projects like Acala, Moonbeam, Kilt Protocol, Darwinia, Kusama, and Ocean Protocol can see their TVL surging massively in the coming year supporting the Polkadot platform.
2022 Price Prediction
While publishing this news, DOT exchanged hands at $28. Meanwhile, analysts have varying views on Polkadot’s upcoming price actions. Some experts believe DOT will not show impressive gains, setting their targets at $30 by 2022-end. Meanwhile, FXStreet analysts see DOT at $82 within 2022. Also, WalletInvestor predicts a $55.19 for DOT in the coming years. Nevertheless, we will wait to see what will happen.
Stay tuned.
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