Why is DOT Coin surging (Does DOT Coin have development potential)?

Why is DOT Coin surging? This morning, the price of DOT tokens staked on Ethereum 2.0 surged from $0.005 to $0.00002.

According to CoinGecko data, among the top 100 cryptocurrencies by market capitalization, 24 experienced significant price hikes today, with ETH having the highest increase, followed by Ethereum and EOS. So why did DOT surge? The reasons are as follows:

1. Why is DOT surging?

Polkadot is an application platform that allows developers and users to easily deploy smart contracts. It connects code with blockchain to enable the functionality of distributed applications.

2. Why is DOT experiencing a surge?

On April 16, 2020, DOT reached a new all-time high and started to retrace. However, it continued to experience an upward trend and is currently trading at $0.048 USDT. Compared to its previous all-time high in early January, it has already surged by nearly 100%.

Does DOT Coin have development potential?

According to cryptoglobe reports, DOT Coin is the first public chain project in the blockchain industry to use the token name “DOT.” The project’s vision is to build an open network system based on distributed technology and a decentralized consensus mechanism. Its main goal is to support the development of new applications by digitizing existing cryptocurrencies in the network. Over the past few months, the price of DOT has increased from $2 to below $4, with a surge of over 30%.

According to CoinMarketCap data, as of 8 AM on June 15th, DOT is trading at $3.68, with a 24-hour increase of 11.8% and a market capitalization of $797 million.