The host of Coin Bureau says a highly anticipated development from Polkadot could push the value of DOT to greater heights.
The pseudonymous crypto trader Guy tells his 1.42 million YouTube subscribers that Polkadot could be ready to rise following the launch of the blockchain’s parachain slot auctions.
Parachains are layer-1 blockchains connected to the Polkadot network. The auction determines which blockchains integrate into Polkadot’s relay chain to access the network’s interoperability features. Investors supporting a particular blockchain will have to bid their DOT tokens to have a shot at securing a parachain slot.
Guy mentions that parachains were initially supposed to launch by the end of Q3 but have been delayed due to an incomplete audit on DOT’s parachain code.
Guy argues that while the delay in the parachain audit may have hindered DOT’s price performance in recent months, investors can expect more bullish sentiment now that the crypto market has resumed its uptrend.