DOT Prices Soar, Web3 Foundation Investments In US Debts Through Polkadot

DOT prices experienced a significant increase. (Photo; Doc. Meidilight)

JAKARTA - The Web3 Foundation, a non-profit organization that supports the development of the Polkadot network, announced plans to invest $1 million (IDR 14.2 billion) in US debt securities signed on blockchain. The investment was made through Anemoy, a platform running at Centrifuge Chain, a Polkadot parachain focused on real assets (RWA/Real World Assets).

This investment demonstrates Web3 Foundation's commitment to supporting real asset growth and innovation in Polkadot infrastructure, which is one of the world's leading blockchain networks. Polkadot is a network consisting of many interconnected blockchains, called parachains, that can offer a wide range of services and applications.

One of the services offered by Centrifuge Chain is the Liquid Short Treasury Fund, an investment product that provides short-term United States debt securities to DAOs and other investors. This debt securities are tokenized on the blockchain, allowing for faster, cheaper, and transparent transactions.

The Web3 Foundation says that this investment will help increase liquidity and adoption of this product, as well as set an example for other organizations and investors who want to invest in real assets through blockchain. "This collaboration demonstrates Web3 Foundation's commitment to supporting real asset growth and innovation in Polkadot infrastructure," the Web3 Foundation said in its announcement.

This investment also shows Web3 Foundation support for Centrifuge Chain, which is one of the Polkadot's parachains that won a parachain auction last November. Parachain auctions are a mechanism used by Polkadot to allocate parachain slots to similar projects. Centrifuge Chain managed to collect more than 1.5 million DOTs, cryptocurrencies from Polkadot, from more than 10,000 supporters.

Cryptocurrency DOT itself also recorded a positive performance with a gain of more than 6.25% in a day and trading at the level of $5.50 (Rp77,900). The DOT price managed to reverse the trend from its lowest level at $3.50 (Rp49,600), rising sharply by more than 55%. In addition, the DOT price showed strong efforts from buyers to penetrate the $6 (Rp85.000) level.

As of this article written, DOT is trading at $5.50 (Rp77,900) with trading volume a day soaring 51% to $288 million (Rp4.08 trillion). The apparent price movement also reflects investor interest and commitment to maintain the bullish sentiment of the DOT. Currently, DOT is trading very close to the previous resistance level at $5.73 (Rp81,200).