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The sharp rise in the price of Polkadot with Bainance investment

After announcing the allocation of $ 10 million by Bainance for the development of the Polkadot project, the price of Polkadot increased by more than 40% in one week.

To Report CoinDesk, according to Messari data, was priced at $ 7.36 at the time of writing. The price of this digital currency has increased by about 12% in the last 24 hours and 41.36% in the last seven days.

The rise in the price of Polkadot began when, on December 23rd, Bainance announced the launch of a $ 10 million fund to support the Polkadot project.

Dot prices skyrocketed after Twitter users found out on December 28 that the Pulkadat / BioCut currency pair had been replaced by the Ether / BioCut currency pair in one part of the Bainance homepage; Because it introduced more of this digital currency to investors. Biodiversity is a stable digital currency that, like Tetra, is always valued at approximately $ 1.

One day chart of Polkadot prices
One day chart of Polkadot prices

According to Mable Jiang, managing director of Multicoin Capital Investment Fund, on Sunday, after the bitcoin price crossed $ 28,000, some small traders in the digital currency market were looking for potential tokens. Be able to record better growth than Bitcoin in the short term.

Founded by Ethereum co-founder Gavin Wood, Polkadot is a blockchain-based network that supports interconnected independent blockchains called Parachain. Due to its complex design, Parachin has more processing power than Ethereum in processing transactions.


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