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25.11 - 15:33
Polkadot price moves higher as parachain auctions reduce DOT’s circulating supply
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cointelegraph.comThis week a number of contenders are set to participate in Polkadot's first parachain auctions and this process tends to place buy pressure on DOT, while also giving aspiring blockchain projects a chance to show why they offer the most competitive solutions to the different demands that exist in the crypto sector.
The ongoing Polkadot parachain auctions follow the success of similar auctions on its sister network Kusama, where projects like Moonriver (MOVR) and Karura successfully secure a parachain slot for the next year.
The Kusama parachain auctions began during a downturn in the wider crypto market and played a role in helping KSM recover from a low of $148.85 on July 19 to its current price near $457 as the tokens pledged to auctions
Read more on cointelegraph.comAbout this in other media
How Polkadot’s parachain auctions are benefiting Enjin ambcrypto.com /2 years ago
Strong Demand, Continued Shortages Push Up Prices in U.S. and Europe wsj.com /2 years ago
How liquid staking disrupts parachain auctions on Polkadot cointelegraph.com /2 years ago
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