Polkadot (DOT) coin has been named as one of the Alt Coins that could see impressive growth over the next year, with forecasters claiming that they can see that the coin could reach as high as $200 per coin by the end of 2021.
Currently trading at $8.48, the project has been met with a wide amount of support and ranked as the number 6 cryptocurrency in the market already shows the impression that the project has made on the market, reaching a market cap of just over $8 million to date.
The project, which is created to be able to transfer data between blockchains, both crypto and data, offers an all-in-one solution for transferring some of the most sort after elements in the modern day.
Operating as a Proof of Stake (PoS) cryptocurrency, Polkadot (DOT) has already started to gather traction across suitable implementation within a variety of mediums across the web.
As with many cryptocurrencies today, the popularity of the coin thus far has relied on accessibility and exposure and while Coinbase, a popular exchange site, has already been dubbed to be able to offer the ‘Coinbase effect’ for alt coins that they provide trading for, it was actually Binance who opted to replace Ethereum for Polkadot on their homepage, resulting in a price breakout for the coin over the $6 price point.
With traction for DOT coin gathering, questions are being asked as to when Coinbase will look to support the coin trading too, which in turn is expected to see the price attempt another breakout climb to trigger what many believe could be just the start of their price growth.
With 2021 expected to be an ‘Alt coin season’ in which many will be looking to invest their money into cryptocurrency, the climbing price of popular choices such as Bitcoin and Ethereum could see institutions and private investors looking for other potential options as they look to secure larger returns on their money and Polkadot certainly seems to tick that box for those that are starting to adopt the coin.
Will you be looking to buy Polkadot in the short term as you look to potentially benefit from the predicted growth for the coin, or are you looking to stick to what many others have done and keep your funds going into Bitcoin and Ethereum?