DOT
DOT

Polkadot price

$5.3270
-$0.37500
(-6.57%)
Price change from 00:00 UTC until now
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Market info
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Polkadot market info

Market cap
Market cap is calculated by multiplying the circulating supply with its latest price. Market cap = Circulating supply × Last price
Circulating supply
The amount of this crypto that is publicly available in the market
Market cap ranking
The asset’s ranking in terms of market cap value
All-time high
The historically highest price an asset has reached during its trading history
Market cap
$7.65B
Circulating supply
1,436,379,918 DOT
Market cap ranking
17
24h high
$5.8420
24h low
$5.0560
All-time high
$55.0940

Polkadot price performance in USD

The current price of Polkadot is $5.3400. Since 00:00 UTC, Polkadot has decreased by -6.56%. It currently has a circulating supply of 1,436,379,918 DOT and a maximum supply of 1,517,316,125 DOT, giving it a fully diluted market cap of $7.65B. At present, Polkadot holds the 17 position in market cap rankings. The Polkadot/USD price is updated in real-time.
Today
-$0.37500
-6.57%
7 days
$1.5090
+39.38%
30 days
$1.1720
+28.11%
3 months
$0.95800
+21.86%

About Polkadot (DOT)

3.4/5
TokenInsight
3.4
11/08/2024
The rating provided is an aggregated rating collected by OKX TR from the sources provided and is for informational purpose only. OKX TR does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX TR does not guarantee any return, repayment of principal or interest. OKX TR does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
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Often referred to as the "Blockchain of Blockchains," Polkadot is a next-gen Layer 0 meta protocol and an open-source blockchain launched in May 2020 to realize the broader vision of a secure, resilient, and fair Web3.

Polkadot unites a network of native purpose-built Layer 1 blockchains called parachains and multiple external blockchains (connected to it using innovative bridging technology), allowing them to operate at scale alongside each other seamlessly.

The parachains and external blockchains can freely interact with each other, making them interoperable. This is a significant shift from the siloed design of conventional blockchains like Ethereum and Bitcoin. Parachains can process transactions simultaneously, reducing the burden on the main chain and offering ease of scalability. They also allow developers to customize their blockchains, allowing them to optimize parachains for specific use cases with their native tokens.

The Relay Chain is Polkadot's central chain, created using the Substrate framework. The Relay Chain is responsible for maintaining Polkadot's shared security, cross-chain interoperability, and consensus mechanism. It has been designed to handle minimum functions, including the network's governance and nominated Proof of Stake (NPoS). All validators are staked on the Relay Chain and confirm transactions from the connected parachains.

The Polkadot ecosystem also has parathreads, which are parachains based on a pay-as-you-go model, making them more affordable. The parachains and parathreads can connect and communicate with external blockchains like Bitcoin or Ethereum through bridges.

The network is secured using the NPoS consensus mechanism. Users can choose to participate in the consensus system as nominators or validators. Nominators can select trustworthy validators to update the network while validators verify transactions. Both nominators and validators stake DOT and receive rewards in return.

DOT use cases

DOT serves multiple purposes within the larger Polkadot ecosystem. It is the currency used to pay transaction fees when sending data or tokens across chains. It also serves as a governance token that users can stake to vote on the future of Polkadot.

DOT tokens also serve as the currency to incentivize users to maintain the system's security. Users can stake DOT to participate in the network's consensus mechanism. DOT is also used for bonding, a type of Proof of Stake. By bonding tokens, developers can create new parachains, while removing bonded assets will delete outdated parachains.

DOT tokenomics and distribution

DOT is an inflationary token, implying it doesn't have a hard cap or maximum supply. It has an approximate inflation rate of 10 percent, with new tokens generated for incentivizing validators. One can transfer DOT in fractions, with the smallest unit being 0.0000000001 DOT, called a Planck.

10 million DOT tokens were generated during its first Initial Coin Offering (ICO) held in October 2017. The tokens were distributed in the following manner:

  • 50 percent: ICO buyers
  • 30 percent: Web3 Foundation for Polkadot development and other Foundation activities
  • 11.6 percent: Web3 Foundation for future fundraising initiatives
  • 5 percent: Private sale round held in 2019
  • 3.4 percent: Token sale held in 2020

A DOT redenomination took place on August 21, 2020, after a network-wide referendum. As a result, the DOT balance for all existing holders was automatically increased by a factor of 100. The original 10 million DOT supply changed to 1 billion after the redenomination, and the market value of each DOT token decreased by a factor of 100. This event is popularly referred to as "Denomination Day."

About the founders

Polkadot is the flagship project of the Web3 Foundation, which was formed by Gavin Wood, Peter Czaban, and Robert Habermeier in 2017. Web3 Foundation is a Swiss-based non-profit foundation established to support Polkadot's research, development, and fundraising efforts.

A well-known name in the crypto and blockchain world, Wood is one of the pioneers of blockchain technology. He is the co-founder and former CTO of Ethereum and the founder of Parity Technologies. In addition, Wood coined the term Web3 back in 2014.

Wood also invented Whisper, a P2P communication protocol, Proof of Authority consensus, and the Solidity programming language. He currently heads the innovation initiatives on Polkadot and Substrate.

Czaban holds a master's of engineering from the University of Oxford and co-founded Web3 Foundation and Polkadot with Wood. Serving as Web3 Foundation's Technology Director, Czaban supports the creation of next-generation distributed technologies.

Habermeier is a Thiel Fellow with extensive research and development experience in cryptography, distributed systems, and blockchain tech. As a longtime Rust Community member, Habermeier is also widely known for using Rust to develop high-performance and parallel solutions.

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Socials

Posts
Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 5.6K new posts about Polkadot, driven by 831 contributors, and total online engagement reached 3.2M social interactions. The sentiment score for Polkadot currently stands at 89%. Compared to all cryptocurrencies, post volume for Polkadot currently ranks at 767. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Polkadot.
Powered by LunarCrush
Posts
5,580
Contributors
831
Interactions
3,207,324
Sentiment
89%
Volume rank
#767

X

Posts
4,804
Interactions
2,651,229
Sentiment
90%

DOT FAQ

What is the total supply of Polkadot?

Polkadot was launched with an initial supply of 10 million. However, after the redenomination, the token balance increased by 100, turning the initial supply to 1 billion. That said, as an inflationary token, the supply of Polkadot is not capped. As of September 2022, over 1.2 billion DOT tokens were in circulation.

Where can I buy Polkadot?

Easily buy DOT tokens on the OKX TR cryptocurrency platform. Available trading pairs in the OKX TR spot trading terminal include DOT/USDT, DOT/USDC and DOT/BTC.

You can also buy DOT with over 99 fiat currencies by selecting the "Express buy" option. Other popular crypto tokens, such as Bitcoin (BTC), Tether (USDT), and USD Coin (USDC), are also available.

Alternatively, you can swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for DOT with zero fees and no price slippage by using OKX TR Convert.

To view the estimated real-time conversion prices between fiat currencies, such as the USD, EUR, GBP, and others, into DOT, visit the OKX TR Crypto Converter Calculator. OKX TR's high-liquidity crypto exchange ensures the best prices for your crypto purchases.

Who do I contact if I have questions about buying DOT tokens?

OKX TR offers multiple ways to seek support. Our self-service support center addresses commonly asked questions about buying, selling, and trading digital assets. We also have a thriving global community, which can be reached through various channels, including Telegram, Reddit, Facebook, Line, Weibo and Twitter.

How much is Polkadot worth today?
Currently, one Polkadot is worth $5.3400. For answers and insight into Polkadot's price action, you're in the right place. Explore the latest Polkadot charts and trade responsibly with OKX TR.
What is cryptocurrency?
Cryptocurrencies, such as Polkadot, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX TR and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Polkadot have been created as well.
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