Polkadot or Chainlink? It seems that after the restructuring, DOT token has surpassed LINK in market cap and trading volume.
Polkadot or Chainlink?
Recently restructured as a value, Polkadot token has more than doubled in value in the last seven days. It is reported that there are currently 897,657,920 DOT tokens in circulation (not yet confirmed). Based on this new value, the cryptocurrency ranked fifth by market cap.
Currently, Polkadot is trading at $6.23.. That means it has a market value of $5.63 billion.. With this value, it knocks out Chainlink from its current position.
Still still 2172 in Coinmarketcap ranking.. ranks. Here, the market value of a token is obtained by multiplying the price by its circulating supply.. According to information on Coinmarketcap, Polkadot “has not yet adequately verified the circulating supply and the resulting market cap.”
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Still, there is another data that supports DOT’s entry into the top 10 in terms of market cap: trading volume.. According to data from Coinmarketcap, the trading volume of the DOT token rose to $1.4 billion on August 27.. That’s higher than Chainlink’s $1.28 billion trading volume on the same day.
In fact, DOT’s trading volume has exceeded $480 million since August 22.. However, before this rise, it should be noted that the transaction volume of crypto money was below 50 million.. According to the data, Polkadot trading volume was $48.8 million and $49.3 million on August 20 – 21, respectively.
These are the only known trading volumes before the restructuring.. Because, according to the announcement, the crypto currency underwent a restructuring process when the block number of 1,248,328 was reached.
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DOT token is used for management and staking on Polkadot network. The community also voted to restructure the token on August 21.. Accordingly, the new DOT is 100 times smaller than the old DOT.
After this change, the price of the coin jumped from $2.88 on August 21 to $4.88 the next day.. It has since peaked at $6.79 on August 27.
After this change, it seems that crypto exchanges’ interest in the DOT token is also increasing.. If you try to look at the question of Polkadot or Chainlink from the perspective of these new developments, you can answer yourself.. It looks like the DOT token and Polkadot network can continue to delight its community with more innovations.
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