Polkastarter (POLS) is a cross-chain token pool and public sale protocol constructed on the Polkadot (DOT) blockchain. It launched in October of 2020 as a method for tasks to boost capital in a decentralized setting and since January the token has rallied 500% to a brand new excessive at $1.78.
Three potential causes for the current progress of POLS are the sturdy rally seen from Polkadot, strategic partnerships and alternate listings and an increasing record of token launches by way of auctions.
The rise of Polkadot
The rising reputation of the Polkadot community is arguably probably the most vital influencer on the value of POLS. Much like Kusama, Polkastarter’s affiliation with Polkadot may appeal to further person and investor consideration.
Polkadot’s rally started on Dec. 27, 2020, and it culminated on Jan.15 as DOT noticed a 75% price increase in one week. POLS sturdy rally additionally reignited on Dec. 27 and adopted an identical trajectory to DOT.
Now that DOT has flipped XRP to turn into the fourth-largest cryptocurrency by market cap, additional worth power for Polkadot has the potential to have a optimistic affect on the general efficiency of Polkastarter.
Change listings and partnerships
Previous to Jan. 14 POLS was solely obtainable on Uniswap and Poloniex. On the time its liquidity was restricted and excessive ETH gasoline charges additionally difficult issues for these serious about buying and selling the token.
After the Huobi alternate introduced plans to record POLS on Jan. 14, its buying and selling quantity elevated from a median of $2 million to $22 million in a single day.
Now the POLS group is engaged on being listed at OKEx and a current tweet from the challenge knowledgeable supporters that the challenge solely wants 2,000 extra votes to qualify.
Itemizing POLS on one other high-volume alternate has the potential to additional increase the token’s worth as extra folks may have entry to one of many fastest-growing Polkadot primarily based tasks.
Profitable auctions and token launches
Much like the preliminary coin choices (ICO) that occurred in 2017 and 2018, Polkastarter is gaining momentum attributable to its capability to draw capital heavy traders searching for the chance to get first entry to the latest blockchain tasks.
Polkastarter’s protocol is designed to allow cross-chain token pools and auctions as a technique of elevating capital in a decentralized style. Up to now, the platform has carried out 12 separate Preliminary Decentralized alternate Choices (IDOs) with 20 completely different swimming pools consisting of each private and non-private choices. Up to now, just one pool didn’t promote out.
The sturdy rally seen from DOT has solely elevated the need of tasks eager to develop on prime of Polkadot so as to capitalize on its rising reputation in addition to keep away from the challenges related to constructing on Ethereum.
Tosdis, the latest IDO carried out on Polkastarter, tweeted the next after its profitable public sale for example of the platform’s rising reputation:
“We’re actually delighted to announce that our IDO on Polkastarter is bought out. POLS pool was bought out in report 30 seconds. After fixing some overloading and gasoline points, the general public pool was bought out in 90 minutes. We’re overwhelmed by the assist. Thanks and Keep tuned.”
Polkadot’s rise, profitable IDOs on the Polkastarter platform and the itemizing of POLS on new exchanges have helped propel the worth of the token to new highs and traders are optimistic that these sturdy fundamentals will push the value larger.
Along with these basic elements, Ether’s (ETH) current surge to a brand new all-time excessive has many analysts calling for the beginning of a brand new ‘altcoin season’. Based on Raoul Pal, the CEO and co-founder of Actual Imaginative and prescient Group and World Macro Investor, merchants are more likely to plow into “higher risk alts” after Ether secures a brand new all-time excessive.
If this prediction does come to go, it may additionally imply even brighter days are forward for the Polkastarter ecosystem.