In the early hours of Feb. 20 波尔卡圆点 (点) trading volume began to see a significant increase which helped propel the multichain protocol to a new all-time high of $42.28.
Data from Cointelegraph Markets and TradingView shows that DOT hit a swing low at $29.36 on Feb.19 before experiencing a 44% breakout which took the price to a new 2021 高.
Excitement continues to build in the Polkadot ecosystem ahead of the upcoming parachain auctions which will allow the Polkadot network to connect with other established networks like Bitcoin and Ethereum.
The mechanism by which data is transferred between different blockchains is called “cross-chain message passing-lite,” and is currently being finalized during the Rococo phase of the project’s roadmap.
Once the code has been fully audited it will then be time for Polkadot governance to vote on enabling parachain functionality via a runtime upgrade, followed by a vote to begin slot auctions to add beneficial parachains.
Social media chatter increased before the spike
沃特克斯™ data from Cointelegraph Markets Pro began to detect a bullish outlook for DOT on Feb. 16, 在最近的价格上涨之前.
VORTECS™ 分数, Cointelegraph专用, 是根据包括市场情绪在内的数据点组合得出的历史和当前市场状况的算法比较, 交易量, recent price movements and Twitter activity.
As can be seen on the chart above, VORTECS™ score for DOT reached a peak of 81 在二月. 16, 多于 48 hours before the ensuing price spike. The data also shows a 102% increase in DOT-related tweet volume that coincides with the rise in price.
The introduction of parachains will help move Polkadot closer to its goal of becoming the go-to platform for interoperability and cross-chain transfers of data, as well as helping with the longer-term objective of creating a fully decentralized and private web that is controlled by its users.