What to expect from Polkadot’s price action before parachain auctions go live
Gavid Wood recently indicated that the DOT treasury currently has 18.9 Million tokens (amounting to $836.9 Million at press time) ready to spend on development of the ecosystem.
The fund’s revelation came right before Polkadot’s parachain auctions go live in November, possibly to fuel development prior to the much anticipated event. With the coming weeks looking bullish as DOT trades within an up-channel, a fresh ATH was just around the corner. At the time of writing, DOT traded at $44.2, with a market cap of $42.9 Billion.
Source: DOT/USD, TradingView
DOT has maintained a bullish-outlook since commencing an upwards run from $26.3, during late-September. An up-channel breakout on 14 October allowed DOT to recapture the region above $40 for the
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