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DOT price forecast after USDT launches on Kusama

By: Invezz

Polkadot DOT/USD is a blockchain that features a core network known as the relay chain, where other blockchains can connect and communicate with one another.

This relay chain handles security and transactions and enables cross-chain interoperability to function seamlessly.

Kusama is the pre-production environment specifically created for Polkadot, where developers can experiment and test new blockchains or applications before they get released on Polkadot.

Tether’s launch of USDT on Kusama as a catalyst for growth

Tether made an announcement that they launched USDT on Polkadot’s Kusama network on April 13.

What this means is that the stablecoin is now available on several networks.

Kusama is the latest network on which USDT has become an availability, joining a list that includes Ethereum, Algorand, EOS, and TRON. 

USDT will be on the first parachain on the Kusama network, known as Statemine.

This development could lead to the growth of the Kusama network, as well as the Polkadot ecosystem as a whole.

Given the fact that DOT is the native token for the Polkadot ecosystem, it could also increase in value.

Should you buy Polkadot (DOT)?

On April 14, 2022, Polkadot (DOT) had a value of $18.32.

For us to truly be able to see what this value point represents for the value of DOT, we will be going over its ATH point alongside its performance throughout the previous month.

When we look at the token’s all-time high value, Polkadot (DOT) had its ATH on November 4, 2021, at $54.98. This means that at its ATH, the token was $36.66 higher in value or by 200%.

When we look at how Polkadot (DOT) performed throughout the previous month, its lowest point was on March 7 at $16.15, while its highest point was on March 28 at $23.25.

Here, we can see that the token increased by $7.1 or by 44%. With all of this taken into consideration, at $18.32, DOT is a solid buy as it can reach $22 in value by the end of April.

The post DOT price forecast after USDT launches on Kusama appeared first on Invezz.

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