Polkadot Overview
Polkadot (DOT) is another top coin you probably only heard of after its highly impressive performance two years ago. But how much could Polkadot be worth in 2023 and beyond? Let’s first take a step back to remind ourselves why investors are so bullish on DOT.
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Bearing in mind that Polkadot is still a super young cryptocurrency, it can be hard to work out DOT’s underlying value. Nevertheless, what is Polkadot expected to reach?
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DOT — King Of Interoperability?
DOT is the token of the Polkadot network. DOT is used for governance, staking, and ‘bonding’ of tokens. DOT is not an ERC-20 token and is not based on the Ethereum (ETH) blockchain.
There is no max supply of DOT tokens, just like Ethereum, which means that DOT is an inflationary cryptocurrency that doesn’t have a scarcity aspect.
A Planck is the smallest denomination of DOT. One DOT equals 1,000,000,000,000 Planck.
Some of Polkadot’s rivals include:
What’s The Point Of Polkadot?
The Polkadot technology enables users to launch and operate their own blockchains on top of the existing platform. According to the Web3 Foundation, the Polkadot platform is characterised by the following features:
- Shared security or relay chain and parachains.
- Performant, sharded network.
- Sophisticated governance process.
- Easy blockchain setup.
- Strong interoperability approach, which means it aims to connect multiple blockchains.
Who Is Behind Polkadot?
The Polkadot protocol was created by Dr Gavin Wood, one of the co-founders of Ethereum. After realising that the Ethereum blockchain platform could encounter various sharding problems after the launch of Ethereum 2.0, Wood came up with Polkadot: a heterogeneous multi-chain framework that would support the development of ‘Web 3.0’, Wood’s plan for a decentralised World Wide Web. (Sharding is the process of dividing a blockchain’s nodes into separate ‘shards’.)
After Wood released the Polkadot white paper on 14th November 2016, the project launched via an ICO (initial coin offering) in 2017. Its first token sale closed on 27th October and raised a total of 485,331 ETH and more than $140 million at the time, making it one of the most successful ICOs ever.
What Is Polkadot Used For?
Polkadot uses a ‘nominated’ proof-of-stake consensus mechanism, which is where ‘nominators’ choose validators by backing them with their tokens. These validators work on the Relay Chain which is where all transactions are sent from all the parachains to be validated on the entire network.
Polkadot can update without the need for forks — instead, upgrades are made on-chain. It can also connect public and private chains and oracles.
Every so often, Polkadot does a ‘Parachain auction’, where parachains are sold off. These parachains can be customised and set up with their own governance rules which are not interrupted by Polkadot.
Polkadot also has a close relationship with Kusama (KSM), which is an experimental test net for Polkadot, where ideas can be tried out before being added to Polkadot.
Who Uses Polkadot?
According to Polkadot’s 2021 end of year round-up, almost three million accounts were created on Polkadot and Kusama (unfortunately, not specifying how much for each chain), with 31 substrate-based mainnets live and 6,000 validators.
Some of the biggest cryptocurrencies operating on Polkadot include Chainlink, Compound (COMP), Ankr (ANKR), Ontology (ONT), and 0x (ZRX).
Technical Analysis Of Polkadot’s (DOT) Price Movements
Polkadot was first available to investors via its ICO at $0.29 per DOT in 2017. When CoinMarketCap first started tracking the price of DOT on the 21st of August 2020, it sold for $2.875 per coin.
In 2021, DOT started trading at $8.3068, reached an all-time high of $55.00 on the 4th of November, and ended the year at $26.72.
In 2022, Polkadot started trading at $19.42 and ended the year at $4.31.
Polkadot’s recorded all-time low is $2.69 (according to CoinMarketCap), which it reached on the 20th of August 2020, and it has a 52-week low of $10.42.
Polkadot Price Chart
DOT/USD price chart. Source: Coinmarketcap
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Expert’s Take On Polkadot Price Predictions
Polkadot price predictions are generally positive. Only Trading Beasts and Coin Price Forecast expect DOT to decline, though at different points in the next several years.
Price Prediction: “According to our deep technical analysis on past price data of DOT, In 2023 the price of Polkadot is predicted to reach at a minimum level of $24.54. The DOT price can reach a maximum level of $28.81 with the average trading price of $25.25”.
DigitalCoinPrice: “The price of 1 Polkadot (DOT) can roughly be [up to] $26.02 USD in 1 [years’] time a 2X nearly from the current Polkadot price”.
Gov Capital: “Future price of the DOT asset is predicted at $111.96414288412 (549.293% ) after a year according to our prediction system.
This means that if you invested $100 now in DOT, your current investment may be worth $649.293 on 2023 March 01, Wednesday”.
CryptoGround: “As per the forecast and algorithmic analysis, [the] price of 1 Polkadot (DOT) will be around $87.6046 in 2027”.
ICOcreed: “The price of Polkadot is expected to reach [a] minimum value of $428.60 in 2030 . The Polkadot price could reach a maximum value of $490.84 with the average trading price of $440.26 throughout 2030”.
Trading Beasts: “according to our forecasts, the Polkadot price is going to decrease. Now the Polkadot price is $18.640, but by the end of 2023, the average Polkadot price is expected to be $15.074”.
Coinskid: “Our Forecast System predicts that Polkadot could possibly increase in value in the short term by +23% to $23.14 from $18.78. The system forecasts a +19% move from $18.78 to $22.27 over the next month, Polkadot has a price prediction of $31.96 in over a [years’] time”.
Coin Price Forecast (2029-2033): “In this period, the Polkadot price would fall from $87.57 to $84.65, which is -3%. Polkadot will start 2029 at $87.57, then [dip] to $81.00 within the first half of the year, and finish 2029 at $85.56. It is about +362% from today”.
WalletInvestor: “Based on our forecasts, a long-term increase is expected, the price prognosis for 2027-02-27 is 93.713 US Dollars. With a 5-year investment, the revenue is expected to be around +400.6%. Your current $100 investment may be up to $500.6 in 2027”.
Polkadot (DOT) Price Predictions
Will DOT go up?
Our Polkadot prediction suggests that the median price may trade above $40 within the first six months and can reach $52 by the end of the year 2023. According to experts' price predictions, the average DOT price will stay above $140 in 2025 and the Polkadot cryptocurrency may rise to a maximum of $370 in 2030.
If you plan to invest in Polkadot, you’ll need to consider the following factors which can impact the price of DOT.
As we mentioned earlier in the article, Polkadot was built by Dr Gavin Wood — one of the co-founders of Ethereum. Many people consider Polkadot to be Ethereum’s main rival. This is because both platforms are designed to support the foundation of other blockchain assets, in addition to their native token (Ethereum’s native cryptocurrency is Ether/ETH).
Because of this perceived rivalry, some analysts believe that the success of Ethereum could potentially have hindered the progress of Polkadot. Ethereum has also enjoyed significant growth over 2021 — also hitting new highs — and it remains to be seen whether their competition will come to a head in the future.
Another crucial factor is DeFi (decentralised finance), a form of finance that aims to remove financial services from the control of centralised bodies — for example, banks and other large institutions. The idea is that this will give everyday people greater control over their money without having to navigate factors such as transfer fees and exchange rates.
The Polkadot ecosystem, much like Ethereum’s, is host to many DeFi blockchain projects (as well as being one itself). One of the most notable of these is Chain X, a community-driven project that enables users to transfer different assets (BTC, ETH, DOT, or EOS) between blockchains.
As the demand for solutions, such as Chain X, continues to grow, platforms powering this sector will likely see greater interest.
Other top factors include supply and demand (however, there is no max supply of DOT) and the price of Bitcoin, which can either start a new bull run or a massive downturn.
The Polkadot price forecasts below strongly suggest that DOT is a good investment. Here are our Polkadot price predictions for 2023 to 2030.
Polkadot (DOT) Price Prediction 2023
The 9 analysts offering 12-months price forecasts for Polkadot (DOT) have a median target of $45, with a high estimate of $55 and a low estimate of $34. The average estimate represents a 70% increase from the current price.
The implementation of Parathreads and Cross-Consensus Communication will improve Polkadot and encourage further investment next year
In 2023, Polkadot will continue its parachain rollout phase which will see businesses and DeFi projects scramble for a piece of Polkadot’s network. Our Polkadot price forecast anticipates a top price of $53.15 after reaching $40 midway through 2023. The lowest estimate is $13.30 and the expected average price for the end of 2023 is $46.93.
Polkadot (DOT) Price Prediction 2024
The implementation of Parathreads and Cross-Consensus Communication will improve Polkadot and encourage further investment next year. Continuing its bullish streak, our 2024 Polkadot price forecast expects DOT rallying to an average of $65.65, a max of $89.04, and an end of year price of $79.63. The lowest price Polkadot will reach is around $40.11.
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Polkadot (DOT) Price Prediction 2025
As per our long-term technical analysis and Polkadot price prediction, the DOT cryptocurrency price could be around $138.24 in 2025. The coin might reflect a bull run and the DOT price might skyrocket in the long term. Based on experts' price forecasts, the Polkadot coin can hit a max of $190.56 and a low of $98.05. The average price represents a 246.47% increase from DOT’s current all-time high.
Polkadot (DOT) Price Prediction 2026
2026 will see Polkadot outpace other customisable blockchain platforms to become the first choice for new blockchain projects. Beginning 2026 at $190.96, our Polkadot price prediction model calculates that DOT will attain an average price of $245.77 by the end of the year. On the upside, Polkadot will hit $272.32 and on the downside, it will hit $122.63, as per our DOT price prediction.
Polkadot (DOT) Price Prediction 2027
The growing popularity of DeFi applications will increase demand for Polkadot in 2027. Five years from now, Polkadot will reach a new all-time high of $355.88 and an average price of $300.09. The lowest Polkadot price prediction for 2027 is $288.19.
Polkadot (DOT) Price Prediction 2028
Another Bitcoin halvening in 2028 will start yet again another bull run, also impacting the price of Polkadot. While DOT could hit a yearly low of $302.93 in 2028, it is also expected to smash its previous record and hit $403.49. By the end of 2028, Polkadot price prediction expects DOT to be worth an average of $375.82.
Polkadot (DOT) Price Prediction 2029
2029 will see institutional investors start to pour into Polkadot after proving itself a top investment. Our price prognosis for Polkadot in 2029 indicates that DOT will trade at an average price of $420.56, reach its highest-ever price of $464.79, sink to $365.71 at the lowest and end 2029 at $454.07.
Polkadot (DOT) Price Prediction 2030
After 10 years on the crypto market, Polkadot may finally begin to outmanoeuvre Ethereum as the top smart contract platform by the end of the decade. In 2030, The price of Polkadot is expected to reach a median target of $470.50, a high of $515.80 and a low of $458.33. Polkadot will end 2030 at $499.91, as per experts Polkadot price prediction. The top price is an 837.81% increase from DOT’s current all-time high.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Conclusion: What Could Polkadot Be Worth?
To summarise, our Polkadot price predictions indicate that DOT is going to increase quite substantially over the next seven years until 2030. But there are still several things investors need to keep at the forefront of their minds when investing in DOT in the long term.
As Polkadot works to link up the crypto ecosystem, it will become one of the most valuable coins around and it will be hard to imagine the crypto market without it. While there may be several other blockchain projects that are also working on interoperability, Polkadot leads the way
The reality is that there will not be one cryptocurrency to rule them all. There are almost 18,000 cryptos and though many will fail, in the end, this number is only likely to grow and so service like Polkadot is desperately required.
That said, Polkadot must remain ahead of the game when it comes to interoperability. Other coins such as Cosmos provide highly similar services and while they will likely co-exist, there is still the possibility that one could outperform the other.
What Will Happen To The Price Of Polkadot (DOT) In 2023?
The price of Polkadot in 2023 will do pretty well as new parachains are sold and it could sell above $50 per DOT, as per our Polkadot price forecast. We do not expect DOT to reach any lower than $13 per coin in 2023 and it will end 2023 at $46.
Will The Price Of Polkadot (DOT) Go Up In 2023?
Polkadot is indeed expected to go up in 2023 with DOT price prediction telling us that it will hit a yearly high of $53.15, slightly less than $2 away from its current all-time high of $55 from 2021. No one expects the price of Polkadot to crash in 2023.
What Will Happen To The Price Of Polkadot (DOT) In 2025?
According to Polkadot price prediction, 2025 will be another great year for DOT as it cements its position above $100, practically doubling upon its current all-time high. Rounding up to an average price of $138, DOT will end the year at $174.
Will The Price Of Polkadot (DOT) Go Up In 2025?
Yes, the price of Polkadot will go up in 2025 and can hit a new all-time high of $190.56, as calculated by our Polkadot price forecast formula. A 912.54% increase.
Will Polkadot (DOT) Hit $100?
Yes, as per Polkadot Forecast, prices can hit the $100 mark in 2024. Currently, it holds the potential for a significant bullish run in the next few years based on technical outlook.
Will Polkadot (DOT) Reach $1,000?
For the time being, Polkadot price prediction does not see DOT reaching $1,000 before 2030, though this level could potentially be hit before 2040.
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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Polkadot Price Prediction FAQs
Does Polkadot Have A Future?
Polkadot has one of the best futures in the crypto market. As Polkadot becomes the No. 1 platform for interoperability, it will only grow in popularity and increase demand for the DOT token.
Is Polkadot Better Than Ethereum?
Polkadot uses a variation of proof-of-stake and offers the ability to create customisable blockchain projects — this alone could suggest that on a technical level, Polkadot is better than Ethereum. However, in terms of investment, Ethereum remains the winner — it has been around far longer and has a much larger user base than Polkadot.
How Did Polkadot The ICO Go?
Polkadot’s 2017 ICO went very well with $144,630,000 received in the token sale, according to ICO Drops. During the ICO, 1 DOT was equal to $0.29 and 50% of tokens were available for sale. Since the ICO, DOT has made initial investors a return of 95.76x.
How To Invest In Polkadot?
As a relatively young coin, it would not be wise to invest too much in Polkadot just yet because we have limited information on how well it could perform. However, as the price predictions above have suggested, it could do particularly well in the long-term (2025 to 2030), and so it would perhaps be best to hold DOT tokens for the long run. Most experienced cryptocurrency investors invest the bulk of their crypto portfolio in Ethereum and Bitcoin and much smaller percentages in other altcoins, such as Polkadot. So, with that in mind, it is perhaps only necessary to invest a small portion of your portfolio in DOT — if it does particularly well, a small amount is all you need.
What Does Polkadot Crypto Do?
According to Polkadot’s website, Polkadot does several things: Enables cross-chain transfers of any asset. Enables a common set of validators to secure multiple blockchains. Enables the creation of custom blockchains with their own governance, which are secured by Polkadot. Upgrades without requiring hard forks.
What Is Polkadot Parity?
Parity is a blockchain infrastructure company that has worked on Ethereum and with clients on Bitcoin and Zcash (ZEC). Parity, in collaboration with the Web3 Foundation, launched the cryptocurrency Polkadot (DOT).
Is Polkadot A Good Investment?
Despite its short time on the market, Polkadot has proven itself to be one of the top investments in the crypto market. Since it began trading, Polkadot has achieved an ROI of 567.1% and risen 590.63% since hitting its all-time low of $2.69.
Will Polkadot Rise?
Yes, Polkadot is expected to rise. Accomplishing an average of $138.24 in 2025, it will be 246.47% from its current all-time high of $55. Following this, in 2030, hitting $515.80 will be an 837.81% increase.
When Will Polkadot Take Off?
Polkadot will take off next year in 2023 where it will secure an average price of $65.65 and a high of $89.04. Continuing this momentum into 2024, Polkadot will surpass $100 per DOT.
What Price Could Polkadot Reach?
Here’s what Polkadot could reach in the next eight years: 2023: $53.15; 2024: $89.04; 2025: $190.56; 2026: $272.32; 2027: $355.88; 2028: $403.49; 2029: $464.79; 2030: $515.80
What Is Polkadot’s Price Prediction For The Next Bull Run?
Bitcoin will go through two halvenings before 2030 — one in 2024 and then in 2028 — which will certainly start the next crypto market bull run. According to our Polkadot price predictions, DOT has a maximum 2024 target of $131.41 and a maximum 2028 target of $403.49.
How High Will Polkadot Go?
The highest Polkadot price prediction we have seen so far has been made by Price Prediction which believes DOT will be worth a maximum of $906.19 by 2031.
Polkadot Price Prediction 2040
Though it is early to say, our Polkadot price prediction indicates 2040 will see DOT hit prices between $2,000 and $3,500 per coin.