Data shows Polkadot’s (DOT) price action is working as a predictor of Ethereum price moves for the past few weeks, what’s behind the trend?
Market capitalization and ‘flippenings’ happen to be important reflections of value for many crypto pundits and investors.
Anyone who’s been in the game since 2017 will recall the heated discussions revolving around the Ether (ETH) to Bitcoin (BTC) flippening and the same commotion was caused by Bitcoin Cash (BCH) and EOS flipping top blockchains as they moved into the top-5.
Now traders’ attention has shifted to Polkadot (DOT) as the network is currently ranked top-5 cryptocurrency by market capitalization and it seems that its ascension to the top came out of the blue.
The network aims to be a decentralized web where its users control applications, services, and institutions and contributors to the project include some well-known names like Ethereum co-founder Gavin Wood.
Despite being listed at major exchanges less than 30 days ago, Polkadot token is mind-blowing even to professional traders.