Polkadot token entered the top 5 cryptocurrencies, amid denomination

CONTENT

  • The project’s cryptocurrency was on the fifth line of the capitalization rating

  • The asset was denominated on August 21

  • The reasons for the active growth of cryptocurrency capitalization remain a mystery

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Thursday began for members of the crypto community with a fall in prices in the digital asset market and a change in the composition of the top 10 most capitalized cryptocurrencies.

The token burst into the 5th line of the rating As the use of cryptocurrencies grows, new types of tokens appear. They can represent value or something intangible like voices. Two … More projects of the co-founder of Ethereum – Gavin Wood – Polkadot (DOT). Bitcoin SV – on the contrary, left the top ten capitalization leaders.

Data: CoinMarketCap

The Polkadot token, according to CoinMarketCap, burst into the ranks of the leaders amid active growth in capitalization. The indicator is marked with a blue line. It is noteworthy that until 12:54 UTC on September 2, the capitalization level was at $ 0.

Data: CoinMarketCap

An ad is presented on the project’s assigned CoinMarketCap resource page. It explains the changes that have occurred in the Polkadot project that could have contributed to the movement of the startup token in the capitalization rating..

“This page is tied to the new DOT token, which is 100 times smaller than its previous version. The change took place on August 21 at 16:40 UTC on block number 1,248,328. The original DOT token has undergone a denomination. The new Dot token is 100 times smaller than the original. There is no difference between the old and the new versions of the token, except for the results of the denomination, “CoinMarketCap notes.

That is why the DOT token chart presented on CoinMarketCap demonstrates statistics of changes in the cryptocurrency exchange rate since August 21, 2020. The resource team explains the jump in digital asset indicators by updating data.

$ DOT has been updated.

View its token details here: https://t.co/J363UkhYRF pic.twitter.com/52WO5gHBv2

– CoinMarketCap (@CoinMarketCap) September 3, 2020

The sharp rise in DOT metrics has sparked debate. Netizens speculated that the data might be artificial.

“Just tell me how much they paid you?”, – asked the members of the crypto community to CoinMarketCap.

Many users wondered how the new DOTs, which are not even two weeks old, could be in the top 5. Members of the crypto community drew attention to the fact that Polkadot itself, and its original cryptocurrency, are much older. 

Polkadot token entered the top 5 cryptocurrencies, amid denomination

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At the same time, the fact of active growth of DOT capitalization remains unclear. The startup’s representatives claim that the total cost of the new tokens, which replaced the old ones, has remained the same. How, in this case, the capitalization of the project jumped amid the flooding of the DOT market, is unknown.

The DOT denomination information is published on the Polkadot blog. For the first time, the project team announced their intention to change the denomination of tokens in early August 2020.

“The percentage of DOT you own relative to the total supply will remain unchanged. This will not affect the total value of your position. DOT holders still own an equal share of the network, as before, “the startup says on Twitter..

At block number 1,248,328 on August 21st at 16:48 UTC, the DOT token underwent a redenomination from its original sale. ‘𝘋𝘖𝘛’ is now 100x smaller than ‘DOT (old)’. Therefore, your DOT balance is now 100x higher and the price per DOT is 100x lower. pic.twitter.com/OEvfj1Ddmu

– Polkadot (@Polkadot) August 21, 2020

DOT’s high position in the capitalization rating was also preceded by the update.

THREAD – Bill’s @Polkadot Digest 1 Sep 2020 # Polkadot News

Polkadot 0.8.23 has been released. This is a MEDIUM priority upgrade (timely upgrade recommended). https://t.co/ebvZnH56zo

– Bill Laboon (@BillLaboon) September 1, 2020

You can learn more about Polkadot from our material.

Why Polkadot WILL 13x SOON (DOT Price Prediction)

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Polkadot token entered the top 5 cryptocurrencies, amid denomination
Polkadot token entered the top 5 cryptocurrencies, amid denomination
Polkadot token entered the top 5 cryptocurrencies, amid denomination

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