Why Polkadot Is Soaring Over the Rainbow Today
The Polkadot (CRYPTO: DOT) cryptocurrency had a great weekend. The official blockchain tool of the Web3 Foundation gained 22.6% from Friday's closing bell to Monday's, briefly rising as much as 24%. At $5.33 per token, Polkadot is trading at prices not seen since the end of July.
Most of Polkadot's weekend gains can be attributed to Bitcoin (CRYPTO: BTC) driving a general surge across the entire crypto sector. The only crypto names not posting remarkable price gains over this period are stablecoins, which are designed to hold steady against the dollar under every conceivable market weather.
But Polkadot added more fuel to Bitcoin's fire. The Web3 token posted a Bitcoin-beating jump on Saturday, as the Polkadot Sub0 conference shone a spotlight on the cryptocurrency's technology updates, popular user-facing apps, and other topics.
Source Fool.com
