Will The Price Of Polkadot (DOT) Reverse Now That Cross-Chain Messaging Is Operational?

2022-05-07 | Selina Mathew

Will The Price Of Polkadot (DOT) Reverse Now That Cross-Chain Messaging Is Operational?

DOT pricing may see a boost now that Polkadot's cross-chain messaging adds additional interoperability, liquid stacking, and the potential to create a USD stablecoin.

The Polkadot (DOT) ecosystem has been quietly evolving over the last year and a half, and the developers' efforts are now bearing fruit as parachain auctions conclude and the first chains appear on the mainnet.

Now that cross-chain capability is ready to become live, the ecosystem is about to enter the next level of interoperability. Polkadot-based parachains will be able to speak with one another and transfer assets between them in the following level.

DOT/USD 1DAY PRICE CHART:-COINMARKETCAP.COM

Here's how the launch of the XCM messaging system affects the price of DOT, the options now available to DOT holders, and how this development improves the Polkadot ecosystem's functionality.

Polkadot has broken free.

DOT had few usage and was essentially isolated on its own network with little functionality up to this time. Staking, governance, and participation in parachain crowdloans were among its key features, which helped lower circulating supply but did little else to genuinely drive demand.

Cross-chain communication allows DOT transfers to multiple parachain networks, expanding the variety of use cases for the DOT token on networks like Moonbeam and Astar Network.

 

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