The crypto market has finally caught glimpse of the warmth in the midst of the wintry cold this holiday season. Wherefore, the digital assets have been exhibiting greener gains. The market capitalization of the business has been emerging out of the shadows. Whilst scripting gains of 5.0% taking numbers to $2.37 Trillion.
The space has been witnessing numerous protocols breaking the glass ceiling. In spite of the shift in market trends, by dint of the supercycle. Folks from the industry are now witnessing Polkadot emerging from the murk. The parachain auctions have escorted Polkadot towards the spotlight, which the network had been missing off-late.
Will Parachain Auctions Succor Polkadot’s Orbit To The Lunar?
The Polkadot network has finally plugged in the much-awaited first batch of the parachain auctions to the ecosystem. The winners of the slots during the auction are Acala, Moonbeam, Parallel finance, Astar, and Clover finance. The second batch of parachain auctions is poised to begin this Thursday, on the 23rd of December 2021.
According to substantial sources, the Polkadot network saw monetary inflows tallying to $2.5 Million. In contrast with the market’s outflows, in the midst of the parachain auctions. The Moonbeam’s launch to Polkadot is expected to bring 80+ integrations to stimulate the network activity.
Energy Web announces an alliance with Parity Tech to build an energy web consortia relay chain in 2022. Which will be positioned as the first multichain network connected to Polkadot. In addition, SBI holdings launch Japan’s first crypto fund which includes Polkadot amongst others. A Dubai-based fund trades $750 M of BTC for DOT and ADA.
The Second Batch Of Parachain Auctions?
Interlay raises $6.5 Million in funding led by DFG, with an aim to introduce tokenized Bitcoin to the Polkadot ecosystem. Interlay will let users lock Bitcoin on a decentralized network of vaults connecting the star crypto with Polkadot.
The initiative will enable users to mint InterBTC which is a bitcoin pegged token. InterBTC can be employed for use cases in the Polkadot ecosystem. Interlay will be contending in the second batch of parachain auctions. With an aim to integrate its token with projects catering to DeFi like Moonbeam and Acala, which hold the parachains.
Collectively, enthusiasts from the community are optimistic of a bullish run by Polkadot on the market charts. In route of its ATH at $54.98, which it currently falls short by 54.6%. The parachain auctions have instilled faith amongst holders of the digital asset. Hopefully, Polkadot embarks on its lunar expeditions in the coming weeks.