JAKARTA – The price of Polka dot cryptocurrency (DOT) experienced a massive correction during the market crash. This was triggered by the fall in the price of Bitcoin (BTC) which caused negative sentiment towards cryptocurrencies.
Polka dot cryptocurrency touched an all-time high on May 15. At that time Polkadot was priced at Rp 704,477. To date Polkadot is in 8th position based on its market capitalization of more than 21 billion US dollars. Polka dots are flanked by Ripple (XRP) and USD Coin (USDC).
Launching Investing Cube, Polkadot is a blockchain project relatively similar to Ethereum. The network was developed by the same developers as Ethereum.
The network is used to build decentralized applications. One of the famous projects built on this network is Kusama and Polkadot.
Developers love this network because it provides ease in the process of application development. The technology is also fairly energy efficient and makes it easier to make new coins, as Reported by Investing Cube.
The price of Polkadot itself decreased by 70 percent, making the price plummet to touch Rp 220,000 per coin on May 24. However, since the market began to recover, dot prices gradually rose again.
Until this news was written on Tuesday, May 25, at 14:58 WIB polkadot price was at the level of Rp 322,549 based on data from CoinGecko.
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