HomePolkadot is down by more than 10% today: is it time to buy the dip?

Polkadot is down by more than 10% today: is it time to buy the dip?

Daniela Kirova

Polkadot is the biggest top 10 loser today. The tenth biggest coin by market cap dipped below $30 again. The live Polkadot price at the time of writing is $29.52 with a 24-hour trading volume of $2.3 billion. Read on to find out what Polkadot is and the best places to get Polkadot if you decide to buy the dip.    

Top places to buy Polkadot now

eToro

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Binance

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What is Polkadot?

Polkadot is an open-source sharded multichain protocol that connects and secures a network of specialized blockchains, facilitating cross-chain transfer of any data or asset types, not just tokens, thereby allowing blockchains to be interoperable with each other. Polkadot was designed to provide a foundation for a decentralized internet of blockchains, also known as Web3.

Polkadot is known as a layer-0 metaprotocol because it underlies and describes a format for a network of layer 1 blockchains known as parachains (parallel chains). As a metaprotocol, Polkadot is also capable of autonomously and forklessly updating its own codebase via on-chain governance according to the will of its token holder community. It provides a foundation to support a decentralized web, controlled by its users, and to simplify the creation of new applications, institutions and services.

Should I buy Polkadot today?

Investors and traders should exercise caution if they decide to invest in DOT. The token can rise in value dramatically, but it can lose value just as easily.  

Polkadot price prediction

Crowd Wisdom’s prediction for the next few hours is that Polkadot will trade in the range of $28 and $30. Their recommendation for the next few hours is to sell because two of the five momentum indicators are positive, but three of the five are negative.     

Polkadot on social media

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