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How will the value of DOT shape after the Ukrainian Government enabled donations in Polkadot?

By: Invezz

Polkadot DOT/USD is a blockchain protocol aimed at connecting multiple specialized chains within a universal network. 

In other words, any developer, company, and even individual can create their custom parachain through Substrate, which is a network intended for the creation of cryptocurrencies and decentralized systems.

Through owning DOT tokens, users can vote on the network upgrades and can stake the token.

The Ukrainian Government’s acceptance of Polkadot (DOT) as a catalyst for growth

Through an official announcement made on Twitter, the Ukrainian Government made an announcement that they would accept cryptocurrency donations.

Initially, they only accepted Bitcoin BTC/USD, Ethereum ETH/USD, and Tether USDT/USD; however, on March 1, 2022, they announced that they were accepting Polkadot.

They also thanked Gavin Wood for donating $5 million in the Polkadot cryptocurrency as promised publicly. 

Additionally, Justin Sun, the founder of TRON, also tweeted that they would personally contribute $1 million if the Ukrainian Government posted a TRX address.

All of this can drive a heightened interest in cryptocurrencies and bring a boost to the overall utility and value of the DOT token.

On January 2, we also covered how Uniswap (UNI) will ease Ukraine crypto donations through a new user interface.

Should you buy Polkadot (DOT)?

On March 2, 2022, Polkadot (DOT) had a value of $18.83.

To get a better perspective as to what kind of value point this is for the DOT token, we will be going over the token’s all-time high point of value, alongside the performance it showcased throughout the previous month.

The all-time high value of the Polkadot (DOT) token was on November 4, 2021, when the token reached a value of $54.98. This means that at its ATH, the token was $36.15 higher in value or by 192%.

When we go over the performance of the token throughout the previous month, Polkadot (DOT) had its highest point of value on February 8, 2022, when the token reached a value of $22.86.

The lowest point of value of the token was on February 24, when it decreased to $14.27 in value.

Here, we can see that from the span of February 8 to February 24, the token decreased in value by $8.59 or by 37%.

However, from February 24 to March 2, the token saw an increase in value of $4.56 or by 32%.

With all of this in mind, Polkadot can reach a value of $21 by the end of March 2022, making it a solid token to purchase.

The post How will the value of DOT shape after the Ukrainian Government enabled donations in Polkadot? appeared first on Invezz.

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