Why is Dot rising (Can Dot rise to 1000)?
Why is Dot rising? Why is Dot rising? Why is DOT going up? Compared with Bitcoin
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Why is Dot rising? Why is Dot rising? Why is DOT going up? Compared with Bitcoin and Ethereum, DOT’s deflationary model is superior in performance.
When the network is congested, nodes will send funds to different trading platforms to process transfers. However, due to high transaction fees, these operations are not convenient to execute. Therefore, in order to better use smart contracts, developers must fork or update each block. If an upgrade is needed, a question arises: who is the ultimate beneficiary in the blockchain? And how can these users participate? The answer is that there are two projects that can solve this problem:
1. Hackers attacked and stole over $10 million worth of Bitcoin from validators on the Bitcoin chain.
2. Validators in the Ethereum chain were maliciously hijacked or stolen tens of thousands of ETH.
3. Users in the Polkadot ecosystem can earn more rewards by staking DOT, such as how many new tokens can be mined after one year of locking DOT. So, many DeFi projects’ governance functions have already been launched and are becoming increasingly popular. What exactly is DOT? What is the role of DOT? The main purpose of DOT is to incentivize the protocol community and encourage members to provide liquidity (i.e., provide collateral), so that they can achieve exchange and swapping on the Polkadot network. (Note: [Link](https://eth.tokenview.com/cn/e6c5b8f4daa0d7cabf9bdcffa88c))
Can Dot rise to 1000?
According to Coindesk, the DOT token is expected to break through the $1000 mark at the end of this month. Currently, the price is below $1000, but there is still room for growth from a technical perspective. However, if this target is reached and maintained for a period of time, then a crucial question arises: Can DOT rise to $1000?
According to CoinDesk’s observation of the DOT/USD chart and data from April 21st, DOT has already increased by over 10 times since December last year (accounting for about 15% of total trading volume), so investors should pay attention to whether this price will continue to grow.
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