- Polkadot beginners book posted on Polkassembly.
- DOT remains as one of the top 10 cryptos in CoinGecko.
The crypto world never stops producing crypto assets that bring decentralization to the next level. Interestingly, the Polkadot (DOT) crypto is a digital asset that continues to make noise in the crypto world. This is due to the scalable heterogeneous multi-chain system of the crypto. As a result, more people become curious about DOT, to the point that some write things about Polkadot.
This made Bill Laboon, the Director of Education and Community at Web3 Foundation react in a tweet post:
THREAD – @Polkadot Digest 27 Sep 2021#Polkadot News
The first draft of the "Polkadot for Beginners" book has been posted on Polkassembly. Feedback is requested. https://t.co/LZM89bJnBU— Bill Laboon (@BillLaboon) September 27, 2021
The tweet of Bill Laboon talks about the book for Polkadot beginners which is already posted on Polkassembly. Furthermore, the book contains a lot of information about Polkadot and just like what the title states, it is made for DOT noobs. Indeed, this book helps a lot of people in the crypto world, mostly the people who are interested in the Polkadot ecosystem.
On the other hand, Polkadot remains one of the top 10 digital assets in the crypto world. In fact, DOT is one of the fastest cryptos to make its way to the top 10 rankings in the crypto market. As a result, DOT is seated along with the top crypto such as BTC, ETH and BNB, to name a few. Truly, DOT has already made a lot of achievements in the past months and has already established its name in the crypto world.
Today, Polkadot trades at a good price of $29.34 per crypto. In addition, it has a huge market cap of over $30 billion.
Polkadot price analysis: DOT faces rejection at $45, more downside to follow?
- Polkadot price analysis is bearish today.
- Price has receded down to $43.
- Support for DOT/USD is found at $41.2.
The Polkadot price analysis is bearish today as Dot declined further upside at $45. The price trend line for the DOT/USD pair has been upwards for the past month and the past week, as the cryptocurrency has gained a significant value over this period, and the price has improved tremendously. However, today’s downtrend can prove detrimental if DOT fails to get support at $41.2.
DOT/USD 1-day price chart: Bears drag the price down to $43 as selling pressure builds up
The 1-day chart for Polkadoyt price analysis shows the bears have dragged down the price from $45 to $43.4 today as the coin is trading at the later value at the time of writing. DOT still shows a gain of 1.6 percent in price value over the last 24 hours due to the bullish momentum of the last two days and a gain of 7.7 percent over the course of the last seven days. But the figures might soon change as the RSI has plunged down, and we might soon observe a downfall, and the gains may soon turn into a loss. However, the trading volume has increased by 72 percent over the last 24 hours.
The volatility is comparatively high, with the upper Bollinger band at $48 representing resistance for DOT, and the lower band is at the $33.3 mark representing the lowest support for DOT/USD. The mean average of the volatility indicator is at $40.7, which also represents support for the coin and may soon undergo a test. The price has stooped below the moving average (MA), indicating a bearish crossover.
The relative strength index (RSI) has dipped down to index 60, though still at a higher level; the movement curve shows an alarming situation and intense selling activity in the market, which is the major indication for the price to go further down. The RSI curve may become sharper in the coming hour, and the price may go below the psychological mark of $40.
Polkadot price analysis: Recent developments and further technical indications
The recent 4-hour Polkadot price analysis further authenticates our doubts as red candlesticks continuously appear on the 4-hour chart, indicating downwards price movement. The downfall seemed controlled in the beginning four hours but has gained pace in the last four hours. As can be seen, the last candlestick is comparatively much larger, indicating a steep plunge in DOT price.
The volatility on the 4-hour chart is mild, but the price has also come below the volatility indicator’s mean average line, which is present at the $43.6 mark; this is another bearish crossover that took place in the last four hours after the bearish crossover of the MA. The RSI also provides reasoning for fear of a massive loss in DOT price, as it now shows a steeper downwards movement almost going vertically down, and the RSI has entered the lower half of the neutral zone at index 47.
Due to the great bullish momentum for the entire month, the technical indicators for Polkadot price analysis still favor the buying side with 13 indicators giving buy signals, including the MA and the EMA, and only three technical indicators show sell signals, including the MACD and momentum oscillators. However, 10 technical indicators stand neutral. As the price is falling fast, the EMA10 might soon signal a selloff.
Polkadot price analysis conclusion
The Polkadot price analysis shows the coin is under high selling pressure. The price has moved below the moving average on the 24-hour and 4-hour charts and also below the Bollinger bands average on the 4-hour chart, indicating strong bearish momentum. The RSI is also signaling a selloff. DOT may soon retest the support at $41.2, but if the support falters, the DOT will go below the $40 handle today.
Polkadot price targets all-time highs ahead of parachains launch
- The staking rate on Polkadot has dropped to 57.3% ahead of parachain launch on the DOT blockchain.
- A total of 2.46 million or 21% of KSM tokens have been locked for crowd loans or parachains on Kusama.
- DOT price continues to rally; analysts predict a new all-time high in the continuous layer one season.
Analysts remain optimistic on the Polkadot network’s parachain launch scheduled for November 2021. Though the percentage of DOT tokens staked has dropped consistently, its price continues its upward climb.
DOT price rally continues as Polkadot prepares for parachain launch
In the ongoing bull run, layer one cryptocurrencies are rallying. The price of DOT has started climbing higher, ahead of Polkadot’s parachain launch, posting nearly 10% gains over the past week. Cryptocurrency analysts have shared their bullish outlook on DOT price, revealing that they are “very bullish” on the Polkadot network’s native asset.
Lark Davis, a cryptocurrency analyst and YouTuber, announced that he is looking forward to the Parachain auctions in November 2021. Davis confirmed the list of top auctions that he is backing in a recent tweet.
I remain very bullish on Polka $dot in the run up to parachains launching in November.
Top 3 Auctions I plan on backing @MoonbeamNetwork @AcalaNetwork @ParallelFi— Lark Davis (@TheCryptoLark) October 23, 2021
Polkadot is preparing for a multichain future with its parachain auctions. Ethereum, the second-largest cryptocurrency by market capitalization, announced its “sharding” mechanism years ago; users and developers in the community are still waiting for its launch.
Unlike Ethereum, the DOT ecosystem is ready with the technical capabilities to support parallel blockchains, just as it did in the Kusama ecosystem. Polkadot unites a network of heterogeneous blockchains, parachains and parathreads and secures them through a “relay chain.”
One of the most exciting features of the DOT network is that each parachain can then be connected to external networks through bridges.
The third batch of parachain auctions on the Kusama network went live, and nearly 21% of KSM tokens have been staked for crowd loans on the blockchain.
The staking rate on Polkadot has dropped consistently, hitting 57.3% ahead of the parachain launch. This is the opposite of what was observed in the Kusama Network.
A drop in the volume of DOT staked in crowd loans and parachains implies that there is an increase in tokens under circulation. Historically, higher circulation drives volatility in DOT price.
Brad Laurie, cryptocurrency educator and YouTuber, considers that use-case-specific parachains on the DOT network are equivalent to layer one scaling solutions.
.@Polkadot #parachains, i.e. use-case specific #blockchains such as @AcalaNetwork, @centrifuge, @MantaNetwork, @AstarNetwork, @MoonbeamNetwork, @PhalaNetwork, @hydra_dx , are equiv. to L1s like @solana, @ethereum, @NEARProtocol, @Algorand
Think #metaprotocol & bridges, seriously pic.twitter.com/QC7s7uptmz— Brad Laurie (@Brad_Laurie) October 26, 2021
Pseudonymous cryptocurrency analyst @rektcapital has evaluated the DOT price trend and predicted that Polkadot’s native asset will likely hit a new all-time high.
$DOT / USDT – #DOT #DOTUSDT #Polkadot
DOT has rallied +44% since first shared in the newsletter
DOT has reached its final major resistance before new All Time Highs
DOT needs to turn the blue level into support to breakout to new All Time Highs#Crypto https://t.co/m453CVulp3 pic.twitter.com/jqiz8bCGCh— Rekt Capital (@rektcapital) October 25, 2021
Polkadot-based DAO aims make decentralized governance more accessible
A new decentralized autonomous organization is determined to become the DAO that serves all other DAOs.
Looking at it narrowly, the goal of SubDAO Labs is to provide small to mid-size organizations with the tools they need to move beyond centralized governance models and form feature-rich, effective, and sustainable decentralized autonomous organizations.
Arguing that the DAO governance model “has gone from obscurity to the preferred form of governance for most blockchain projects,” SubDAO believes one of the biggest stumbling block to its widespread adoption is that “it is not practical for smaller organizations or those without sufficient fund to develop their own governance tools.”
While organizations like Aragon and DAOHaus have made available tools and smart contracts that meet basic governance needs like voting and fund management, other more advanced but common needs — like decentralized arbitration, credit-based lending platforms, DOA-governed social media platforms, and decentralized communication platforms — “are difficult to satisfy with the existing toolchains,” SubDAO says.
More broadly, however, SubDAO is on a mission it refers to repeatedly in blog posts, and its ambitions extend far beyond crypto and blockchain:
“Our vision is to integrate DAO governance into every aspect of life, by exposing everything in the sunlight and eliminating oppression. Ultimately, the hierarchical concept will be removed, and everyone will be able to embrace freedom.”
The DAO structure “makes it possible for the old social system to go through earth-shattering changes,” SubDAO says, predicting that “when DAO is mature enough to replace traditional organizations, there will be a major social change.”
The nitty gritty
To achieve that integration, SubDAO is building a DAO creation and management platform on Polkadot, a nominated proof-of-stake decentralized blockchain. Created by Ethereum co-founder Gavin Wood, Polkadot powered its way from sub-100 into the top 10 cryptocurrencies by market capitalization in just a few weeks in August and September.
The core of that creation and management platform is the four-part SubDAO Network, designed to make the creation of customized, feature-rich DAOs a quick-and-easy process of a few clicks in just 15 minutes. The Substrate-based platform includes nodes, a software development kit, a user interface for apps, and a library of SubDAO smart contract templates.