- Polkadot (DOT) has been siding with the bulls recently, registering an almost 17% hike in the last seven days.
- Deutsche Telekom bought a large amount of DOT tokens in December 2021, and its subsidiary T-Systems Multimedia Solutions also purchased a large number of tokens to help groups staking on the Polkadot network.
- The Polkadot team recently released updates on their Roadmap Roundup, aiming to reduce the duration of parachain blocks to six seconds and increase the amount of block space available by a factor of 5-10.
Background Information
Polkadot is a proof-of-stake blockchain that raised over $144.3 million through an ICO held in October 2017. DOT was trading at around $6.30 in August 2020 and remained volatile throughout 2020, reaching an all-time high of $55 in November 2021 before dropping below $6 during the crash in early 2022. The Polkadot team recently released updates on their Roadmap Roundup, aiming to reduce the duration of parachain blocks to six seconds and increase the amount of block space available by a factor of 5-10. In December 2021, Deutsche Telekom bought a large amount of DOT tokens while its subsidiary T-Systems Multimedia Solutions purchased more tokens to support staking activities on the Polkadot network.
Market Performance
Polkadot has been capitalizing on the bullish sentiment seen across other markets lately. It registered an almost 17% hike over the last seven days and is currently trading at just above $6 after hitting an all time high value back in November 2021 at $55 per token. Despite Ethereum emerging as serious competition for Polkadot, Robert Habermeier – Co-Founder – claims he’s happy to see Ethereum transition from PoW to PoS mechanism, viewing Polkadot as „ETH collaborator.“