DOT Now Fourth Ranked Crypto In The World As It Displaces XRP + Kraken Exchange To Halt Trading Of XRP In The US

Polkadot is a decentralized web 3.0 network protocol which allows tokens, arbitrary data to be transferred across blockchains paving way for builders to build apps that gets permissioned data from private blockchains and use it on public blockchains. The native coin of this network is called DOT. A few days ago, Dot displaced XRP to become the fourth ranked crypto in the world just after it's price went up over 100% in less than a week. On the 16th of January to be precise, the token set an all-time high of $19 according to CoinGecko.

Polkadot's market cap is now over $15 billion and of a truth, Investors are tending to buy more as the days go by. Just before the 23rd December breakout, Dot price had an average price of $4.70 and it's market cap was around $4.5 billion. Within that period till first week of January, Dot experienced an up in price by over 100% although it sustained the price point of $10 and dropped down to $7 on the 11th January.

A 1-month DOT price chart on CMC

The next rally after the price went down had DOT displacing XRP to stay at number 4 on the world's top ranked Cryptocurrencies list. XRP has been experiencing delistings from exchanged and for US customers, Kraken exchange will be halting the trading of XRP from January 29th 2021.

Dot's market price according to CMC as at the time of posting this article is $17.33. The coin has gone up 5.64% in 24 hours. Polkadot seems to be setting a pace for Altcoins to follow in due time.

Disclaimer: This is not a financial advice.

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