Cryptocurrency News

Polkadot (DOT) and Solana (SOL) Reach new All-Time Highs, IOTX Enters Cryptocurrency Top 100

By November 4, 2021 No Comments

Key takeaways:

  • Solana is continuing its year-long historical performance and has nearly breached the $250 price level earlier today
  • Excitement over Polkadot parachain auctions fuels DOT’s rally
  • IoTeX becomes a part of the cryptocurrency top 100 thanks to major partnerships that were announced on November 2

The cryptocurrency industry continues to reach new heights – the total market cap has increased by more than $500 billion in the last 30 days, with numerous digital assets reaching fresh price peaks over the past month. Today, two assets belonging to the cryptocurrency top 10 by market cap managed to break their previous price records.

“Solana Summer” turns into “Solana Autumn”

Over the past year, few digital currencies have managed to perform as strongly as the Ethereum competitor Solana. The non-fungible token (NFT) craze has pulled the price of SOL above $240, marking a whopping 158x increase year-to-date (YTD). In terms of the YTD ROI, Solana is currently the 4th best performing digital asset in the market – behind Shiba Inu (SHIB), Axie Infinity (AXS), and ECOMI (OMI).

The price of Solana has increased by more than 30% in the last seven days.

Many in the crypto community have dubbed SOL’s impressive performance “Solana Summer” as the proof-of-history (PoH) project managed to cross into $100 territory; few believed that the $200 price tag was just around the corner.

While it took SOL just a single month to cover the ground between $100 and $200, the climb towards the $250 psychological barrier is taking much longer. Earlier in the day, SOL reached a new ATH just below the $250 price level at $247.

Upcoming parachain auctions are fueling Polkadot’s market success

Polkadot network’s native DOT token has seen impressive growth over the past three weeks. The main driving force behind the price surge was the excitement over the highly anticipated parachain auctions. The motion to enable parachain registration for blockchain projects eager to build on Polkadot’s parachains was successfully passed earlier this week. In the days following the announcement of the community vote, DOT managed to hit a new ATH on November 2.

The price of Polkadot has touched $55 for the first time today.

Today, DOT reached a new peak of $55 on the heels of a 10% daily gain. Taking a step back and looking at DOT’s yearly chart paints a very positive picture. The price has nearly doubled in the last month and has increased by more than 700% YTD.

IoTeX surges by 100% and becomes a part of the cryptocurrency top 100 on the heels of significant partnership announcements

Following the announcement of a partnership with travel booking platform and cryptocurrency payment gateway NOWPayments, the price of IoTeX’s native token experienced massive growth. IOTX has doubled in value in the span of less than a single day and led to IoTeX entering the assortment of 100 largest blockchain projects by market capitalization.

At one point during today’s trading activity IOTX was up 140%.

IoTeX’s mission is to facilitate a cross-border ecosystem where humans, businesses, and a sleeve of interconnected devices “can interact with guaranteed trust, free will, and privacy.” Recently announced partnerships mark a significant step towards a seamless transition towards the company’s vision of the Internet of Things (IoT) future.