Polkadot (DOT) hit a new all-time high of $42.28 on February 20, marking a steady uptake in trading activity.
The currency moved past the $29.36 mark on February 19, before surging to the new record and dropping back to $37.16 today, but it is still showing strong resistance.
While the currency will probably continue to drop throughout the day, excitement around Polkadot continues to mount.
After all, Polkadot promises to solve network-congestion problems for two of the most popular networks there are, Bitcoin and Ethereum, and this is enough to have many crypto enthusiasts hopeful for a better valuation for the currency.
Polkadot is currently in the process of finalizing the cross-chain message passing-lite, which would give it greater applicability as well as slashing maintenance time and enabling consumers and projects to tap into its power freely and without hitches.
Just like any big spike, social media chatter usually precedes an event that is linked to the increase of value of cryptocurrencies. According to Cointelegraph’s algorithmic VORTECS data, the recent Polkadot surge was predicated on social media hype.
Polkadot is not yet present in the gaming sphere as much as other blockchains. Ethereum and Bitcoin casinos still lead the way with great casinos such as Bitcasino, 1xBit and FortuneJack to name a few.