Crypto Market Update: Polkadot Increases by 16%
Growing crypto-asset Polkadot experienced gains of up to 16% following its listing on Coinbase on Tuesday morning
Investor bought into the crypto asset on the belief that it would get increased exposure from its Coinbase listing
Flagship cryptocurrency Bitcoin is also up by 2% today after breaking past its psychological barrier of $40,000
Polkadot, the 8th largest cryptocurrency by market cap in the world is experiencing significant gains.
The fast-rising crypto increased by 16% following its listing to Coinbase, the U.S. leading crypto exchange.
At the time of this report, DOT has a market value increase of about $3 billion and the value of the coin stands at $25.
What is Polkadot?
DOT is a crypto asset that is used to facilitate transfers across the blockchain.
This project aims to increases security and scalability by combining different blockchains.
DOT which is the token of Polkadot can be used to secure networks or connect new blockchains.
Flagship crypto, Bitcoin is also up by over 2% in the last 24 hours after Elon Musk announced plans of Tesla resuming acceptance of the coin for payment.
The crypto asset rose as high as $41,000 yesterday before dropping off but it remains above the psychological barrier of $40,000.