The global cryptocurrency market is a cloud containing numerous networks. While most networks have been far from the glitter of the industry.
Remarkable in the industry, they have managed to establish their reign, with distinct and exclusive features. One such protocol is Polkadot, which has garnered industry interest with its parachutes.
Polkadot and its parachute auctions are now called in sync. As parachains increase in popularity.
In turn, the recent Polkadot parachute auction shows stiff competition among potential contenders fighting for the spot. In contrast, Polkadot emerges as the network with the lowest energy consumption and carbon emission.
Will this report help Polkadot be the first choice of investors?
Polkadot in a recent report by the Crypto Carbon Rankings Institute (CCRI) has become the network with the lowest electricity consumption. Being the least emitting network of carbon per year.
The protocol has left behind prominent networks such as Bitcoin, Ethereum, Solana, among others.
Learning from the report, it is understood that Polkadot’s network consumes about 6.6 times the electricity consumed by the average American household in a year.
By comparison, Ethereum uses 1.6 million times US households, while flagship cryptocurrency Bitcoin uses 8.6 million times households.
In contrast, Polkadot has allocated about 993,286 DOT, worth more than $21 million, for the Polkadot Pioneers Award. The initiative aims to stimulate the development of the ecosystem and the highly anticipated Web3.
The contenders must compete to solve some of the persistent challenges facing Polkadot and Web 3.0 in order to win the allotted prizes.
As for Polkadot parachute auctions, the current batch of auctions sees stiff competition. While Efinity, Composable Finance and Centrifuge have secured their slots.
Hydra DX, a multi-head liquidity Omnipool, is expected to be next. While Interlay would acquire a place to bring trustless Bitcoin to parachains.
In conclusion, while numerous factors have been in favor of Polkadot, the DOT price has lacked the zeal for a lunar flight. As the digital asset continues to trade at $21.38 with negative gains of 4.5%.
The community is optimistic about DOT scaling higher cliffs as the network continues to work on upgrades and fund emerging projects.
Meanwhile, community building initiatives such as being a sponsor of FC Barcelona could push the protocol to higher market cap rankings in the near future.
This post Will the price of Polkadot (DOT) stay below the sub-$22 range? – Coinpedia – Financial Technology and Cryptocurrency News Media
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