Polkadot (DOT) has become one of the most talked about altcoins in the crypto industry. For the first time its capitalization exceeded$ 6 billion and the price is up 200% in less than a week.
Due to its rapid growth, altcoin briefly took the fifth place in the cryptocurrency rankings, pushing Chainlink. After an extended bullish rally, the Polkadot price pulled back below $ 6.
Many experts associate the jump in the DOT price after listing on Binance with its growing utility, denomination and good technical prospects.
The increased demand for Polkadot is causing andthe number of projects launched on the blockchain and the success in the development of smart contracts. That being said, Ethereum remains the dominant protocol for smart contracts. So far, Polkadot does not compete with Ethereum and cannot replace it, but it can coexist in parallel in the long term.
Experts believe that this is not the limit, and DOT has not yet reached its full potential.
Large exchanges – Binance and Kraken – have already included DOT in their listing.
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