First Polkadot Core Sells For 69 DOT: Will Prices Move?
08 Octobre 2024 - 2:30AM
NEWSBTC
Polkadot, an interoperable blockchain, continues to build. Less
than a month after launching Agile Coretime, the first core was
bought for 69 DOT over the weekend. This purchase is a significant
milestone for the modern blockchain that’s been pushing to attract
more users and developers on its rail by making block space
accessibility easier and more flexible. Polkadot Coretime Purchased
For 69 DOT According to on-chain data from the Coretime Hub, one
core was bought for 69 DOT out of the five available for sale. The
purchased amount was burned, a move that helps reduce inflation in
the long term. Related Reading: Here’s Why The Bitcoin Price Could
Hit $100,000 Before The End Of The Year Agile Coretime, which went
live in September, is a massive boost for Polkadot. Under this
framework, Polkadot seeks to allocate network resources more
efficiently while offering greater accessibility and flexibility
for new startups and developers planning to build. A core aspect of
this framework is introducing a market-driven approach to block
space data. In this model, it becomes easier for projects to
purchase core, on-demand, or bulk, depending on their needs.
Accordingly, projects can prudently use their resources, and the
resulting flexibility is empowering. Polkadot developers also
said Agile Coretime will enable developers to optimize for network
performance. Beyond these advantages, since coretime can be traded
as NFTs, it can create fresh avenues for monetization for smart
traders. Reducing Inflation, Will Prices Recover? Even with this
purchase, whether DOT’s inflation will rapidly fall in the coming
months remains to be seen. Currently, the network’s inflation is at
around 10%. However, the community has already voted and approved
Referendum 1139, which seeks to reduce inflation from 10% to 8%.
Related Reading: Crypto Analyst: Why Memecoins Are Still The Next
100x Opportunity Over time, developers will aim to further reduce
inflation, even below 5%, depending on network growth, and a big
part of Coretime purchases. The more users buy Coretime, the more
DOT will be burnt and removed, reducing inflation. For now, even
after the purchase of the first core DOT, it remains under immense
selling pressure, mirroring the general performance across the
board. Although DOT is still in the top 20, the coin is down nearly
70% from March highs. Any dump below $3.8 could accelerate the
sell-off, pushing DOT to fresh 2024 lows. Feature image from
UnSplash, chart from TradingView
Polkadot (COIN:DOTUSD)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024
Polkadot (COIN:DOTUSD)
Graphique Historique de l'Action
De Déc 2023 à Déc 2024