CoinMarketCap’s community poll investors have revealed their Polkadot price predictions for September 30. This survey is open to all CMC members and the participant has one vote. In the rest of the article, we have discussed the Polkadot price predictions of 1,231 participants without any certainty.
The crypto community expects these levels in Polkadot price for September 30
Polkadot (DOT), one of the most energy-efficient crypto projects, has recorded stagnant price action in recent weeks amid the ongoing bear market. However, DOT investors expect a rebound based on factors such as continued network development. Notably, CoinMarketCap’s community survey predicted that DOT will average $11.81 by the end of September 2022. This estimate from the community represents approximately 69% growth from the price DOT is currently trading. 1,231 community members predict that the DOT price will be higher than current by the end of September.
DOT price analysis
It seems that the crypto community has an intense bullish sentiment in the DOT price. However, the price remained mainly in the red zone in conjunction with the monthly chart overall crypto market. The DOT is currently trading at $6.98, down 1.5% in the last 24 hours. It should be noted that DOT has been trying to make small gains in recent weeks, but not enough to beat the bears.
Ideally, Polkadot seeks support from ongoing developments to make its network more efficient. It also expects an increase in development activity, which will show the increased interest of developers in Blockchain and increase the reliability of the network.
Development activities
On August 23, Polkadot was ranked second among crypto projects by development activity. However, the most development activity in the last 30 days was 400. The network follows Ethereum (ETH) and ranks top with 401 projects.
At the same time, the Polkadot team recently announced a new parachain deployment in partnership with ParityTech. If Parachain is successful, the Polkadot community will be able to manage it without waiting longer for approval from outside parties. Overall, the upturn from investors could indicate that the DOT is experiencing increased interest and momentum. On the other hand, the momentum around crypto does not seem to be deterred by the recent attack affecting Acala, the decentralized hub of the Polkadot network. The hacking event, which we quoted as Kriptokoin.com, was promoted as the passing of an emergency vote to pause operations.
In particular, Acala is the stablecoin standard for the Polkadot and Kusama networks. Thanks to the event, hackers managed to steal about 1.3 billion tokens for free.
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