How has Polkadot performed over the years? The year 2020: +168% The year 2021: +210% The year 2022: -84.7% This year 2023: -5.4% Latest Polkadot Statistics Revenue (30 days): $16.2k (-6.1%) Active Daily Users (30 days): 4.0k (+21.3%) Polkadot – Buy or Sell, Crowd Poll July 20th: +41.5% Aug 3rd: +46.8% Aug 31st: +48.8% Sept 19th: +51.1% October 7th: +42.9% Can Polkadot reach $10000? What is Polkadot? Polkadot is a sharded blockchain (or Software) that aims to connect multiple blockchains and enable them to work together efficiently. It allows cross-chain transfers of assets, data, and value across previously incompatible networks. The network is designed to be scalable and fast, avoiding speed issues, and reducing parallel processing segments. Polkadot facilitates a number of exciting projects such as Kusama, Darwinia, and PolkaFoundry. The network’s native token, DOT, serves the purposes of ensuring operations and security, facilitating network governance, and binding tokens to connect parachains. DOT holders have full control over the protocol and participate in governance through the proof-of-stake consensus. They can also stake DOT and bond them to add new parachains to the network. Polkadot’s competitors include Corda R3, Algorand, AVA Labs, and Dfinity. Revenue for Q2: Polkadot’s revenue was $81,000, showing a 32% decrease QoQ. XCM: Active XCM channels: Increased from 111 to 155. Daily Active Accounts on Relay Chain: 5,800, representing a 16% QoQ decrease. Total Unique Accounts: 3.9 million by the end of June, up 200,000 QoQ and 600,000 year-to-date. DOT bonded in Q2 2023: 467,000 ($2.4 million), a 43% QoQ increase. The limited presence of Polkadot in NFT gaming and DeFi and weak use cases for DOT make it a difficult investment. Read: SOL Solana Price Prediction And Forecast Can Polkadot Reach $10000? Polkadot Price must rise 2000 times to reach $10000. At $10000, Polkadot’s Market Cap would be a mammoth 12 Trillion. Polkadot has risen 84% over the last 2 years. It also rose 7 fold in two months before inflation hit us in 2021. So what we know is Polkadot is capable of growth in high liquidity periods. How did Polkadot grow this year? Polkadot has been a top performer this year growing 84% in 2023. So we know Polkadot has momentum and is capable of growth during high liquidity periods. But is that enough to rise above $10000? To validate that, we need to look at the Market Cap Figure. Bitcoin is ranging around $500 B Apple Stock is nearly $ 3 Trillion. Our forecast for Apple Stock is that it is likely to reach $15 Trillion by about 2031. That would mean, it took Apple 30 years to rise from a Market cap of $6 B (Polkadot today) to a Market Cap of $12 Trillion (Poladot at 10000). During that time, Apple Invented Ipod, Ipad, and the modern smartphone. Apple also owns a highly lucrative app store. Let us look at Bitcoin, only 2-3 analysts have put out a prediction of $12 Trillion Market Cap. While Bitcoin’s utility is rising beyond payments to NFT and DeFi this year, the future is quite uncertain to make accurate predictions. Taking in all the data, Polkadot could reach $ 10,000 in 30 years if it remains as competitive and innovative as Apple was in the last 20 years. The second scenario is for a couple of major liquidity events (like COVID) that would artificially drive the prices of cryptocurrencies like DOT. That is difficult to predict. Perhaps the most practical possibility is for Polkadot to burn a significant proportion of DOT (say 90%) and then sustain performance and pray for one major liquidity event in the next 10 years. That would certainly make $10000 feasible. Polkadot Price Prediction $1000: Detailed Analysis In order for Polkadot to reach $1000, it would need to increase by a factor of 250. At $1000, DOT’s Market Cap will be $1.2 Trillion. If Polkadot were to grow at a rate of 25% each year, it would take about 25 years to reach $1000. Let us evaluate this data Quality of Investment- Moderate Growth required to reach $10- Feasible Market Cap at $10- Not Feasible Time required to reach $1000 if it were to rise at 25% per annum- Not Feasible Considering the criteria Quality of Investment, growth required and time required, Polkadot has a low chance of reaching $1000. Let us analyze it further: Is it possible for Polkadot to rise 250 times? DOT would have to go up 250-fold over 25 years. Looking at Bitcoin, it shot up 1,400 times in just 10 years. So, it’s definitely possible for a coin to multiply 250 times in 25 years. Therefore, if the market is right, Polkadot could very well grow by that much. Can we forecast accurately that a token will grow at a rate of 25% every year for the next 25 years? No, a coin’s value doesn’t grow steadily, and predicting its growth for 25 years is a stretch. So, it’s not realistic to think Polkadot will grow 25% every year for the next 25 years. Polkadot Price Prediction $1000: Conclusion To conclude: Polkadot possesses significant utility as a token. As an investment, it presents a moderate proposition. While it has the potential to achieve the discussed growth rate within the specified duration, Attaining such an elevated market capitalization is currently not plausible. Consistent growth for Polkadot over the next 25 years seems improbable. Considering these factors comprehensively, it appears highly unlikely that Polkadot will approach the $1,000 mark in the foreseeable future. Polkadot Staking Polkadot staking is available on: CEX.IO: Stake Here Kraken: Stake Here Uphold: Stake Here Kucoin: Stake Here Coinspot: Stake Here To learn more about staking polkadot: Read Here Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.
Can Polkadot Reach $10000, $1000?
