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DOT price forecast: can Polkadot dominate the industry through its low energy consumption?

By: Invezz

Polkadot DOT/USD is a protocol developed as a means of connecting blockchain networks, allowing value as well as data to be sent across previously incompatible networks.

The DOT is the native cryptocurrency token that’s used for staking as well as governance.

Low energy consumption as a catalyst for growth

Research conducted by Crypto Carbon Ratings Institute (CCRI) has given us a perspective that Polkadot consumes less energy than the top cryptocurrencies, such as Bitcoin BTC/USD, Ethereum ETH/USD, and Solana SOL/USD.

In fact, according to the search, Polkadot consumes 6.6 times the electricity consumption of an average US household within the span of a year. 

This low energy consumption has led to Polkadot comparisons to its peers and has also fueled a bullish outlook for the DOT token to cryptocurrency investors.

With the environmental impact that is connected with cryptocurrencies, DOT is seemingly one of the most eco-friendly options at the moment.

Should you buy Polkadot (DOT)?

On February 7, 2022, Polkadot (DOT) had a value of $21.89.

To see what this value point indicates for the future growth of the DOT token, we will be going over its all-time high value as well as the performance the token showcased throughout January.

The all-time high of the Polkadot (DOT) token was on November 4, 2021, when the token reached a value of $54.98. This means that the Polkadot (DOT) token was $33.09 higher in value at its all-time high, or by 151%.

When we go over the performance of the Polkadot (DOT) token throughout the previous month, we can see that its highest point was on January 3, 2022, when it reached a value of $30.5, while its lowest point was on January 24, 2022, when the token decreased to a value of $16.16.

This gives us an indication that from the span of January 3 to January 24, the token saw a decrease in value by $14.34.

However, from the span of January 24 to February 7, the token saw an increase in value of $5.73 or by 35%.

With all of this in mind, the Polkadot (DOT) can reach $27 by the end of March 2022, making it a solid purchase.

The post DOT price forecast: can Polkadot dominate the industry through its low energy consumption? appeared first on Invezz.

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