Analysts believe Polkadot price will surpass $100 with the launch of parachains

PolkaFoundry, built on Polkadot, is compatible with the Ethereum Virtual Machine, emerging as the top choice for NFT projects.
The second edition of Kusama Parachain slot auctions is underway, and heated competition between blockchain projects ensues.
Launch of Parachains likely to trigger a bull-run in the protocol's native token DOT.

Over 1.7 million KSM tokens are locked for parachains and crowd loans. The cross-chain protocol Polkadot will soon operate relay chains and parachains.

DOT gears up for rally to $100 with updates in Polkadot ecosystem

Vitalik Buterin, the founder of Ethereum, shared his thoughts on a few possible solutions to the challenge of rising gas fees. Buterin states that migration of NFTs entirely off Ethereum and onto layer 2 scaling solutions will reduce transaction fees. Buterin proposed a few alternatives for implementing the same.

PolkaFoundry, a cross-chain protocol focused on DeFi and built on Polkadot, has emerged as a possible alternative to the problem that Buterin is looking to solve. The protocol capitalizes on the scalability of Polkadot and is compatible with Ethereum's Turing-complete machine EVM.

As more NFT marketplaces and projects migrate to protocols built on Polkadot, the network will likely witness a rise in on-chain activity and overall demand for the native asset DOT. This is one factor that can contribute to a rally in the native token of the Polkadot ecosystem.

Another factor is the launch of parachains, layer-1 blockchains that are expected to run in parallel with Polkadot and Kusama Networks.

Parachains have cross-chain composability, and projects on Parachains can connect to Bitcoin and Ethereum through cross-network bridges. This has opened up a wide variety of use cases with the ecosystem, and the ongoing Parachain auctions on the Kusama Network have been well-received. Blockchain projects are faced with stiff competition.

Polkadot was conceived as a layer-0 multi-chain network at its launch, and this implies that the central Relay Chain is capable of offering layer-0 security and interoperability for nearly 100 layer-1 parachains.

Lark Davis, a cryptocurrency analyst and YouTube content creator, believes that the launch of parachains will trigger a rally in DOT, arguing that the demand for the underlying native token of the Polkadot network is set to skyrocket.

Polka $dot has not yet reclaimed its all time high. Parachains, when announced will probably send it to $100.
— Lark Davis (@TheCryptoLark) September 7, 2021

FXStreet analysts expect DOT to hit $40 if it crosses key resistance at the $31 level.

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