The crypto market is facing a very erratic volatility that has forced a number of top altcoins to shed some of their gains in recent times. Polkadot (DOT), despite its positive ecosystem updates, has also seen its price slip over the past few weeks. At the time of writing, Polkadot is trading at a spot price of $5.46, down by 0.48% over the past 24 hours.
A mere look at the trading charts shows Polkadot is lagging behind most of its peers; however, the Layer 1 proof-of-stake (PoS) protocol has pushed itself above its limitations and has set the stage for a mega price run in the near future.
Just like the majority of innovative smart contract protocols, Polkadot is birthing the emergence of a number of unique dApps, whose utility is billed to drive more users into the ecosystem and, as such, create a defined demand for DOT tokens.
One of the latest apps launched is the non-fungible token (NFT) marketplace from Polkadot Parachain, Unique Network. While the broader Web3.0 world is replete with NFT trading arenas, the Unique NFT marketplace is different in that it allows any creator to build utility in NFTs with such "features like bundling, royalties, sponsorships, and more - in a matter of a few clicks."
10/— Polkadot (@Polkadot) July 3, 2023
Any creator can now build utility in NFTs w/ features like bundling, royalties, sponsorships, and more - in a matter of a few clicks.@Unique_NFTchain recently relaunched its marketplace, which is powered by Polkadot, and made it permissionless.https://t.co/SxWALL5wl1
Besides the Unique NFT marketplace, Polkadot also sees a very defined pivot into AI-based dApps as it seeks to pursue dominance in a niche many have projected will shape the future of smart contracts remarkably.
Push for new highs - role of parachains
Polkadot is a high-performance blockchain that hosts parachains that are also blazing trails across the board. It should be noted that the combination of the successes of these parachains is important as it will culminate in positive growth for Polkadot in the long run.