CandleFocus First Polkadot Core Sells For 69 DOT: Will Prices Move?
2024-10-08
Author: Content Editor
The on-chain data from the Coretime Hub shows that one core was purchased for 69 DOT, which was then burned to reduce inflation. Agile Coretime, launched in September, aims to make Polkadot more efficient and accessible for startups and developers. The market-driven approach allows projects to purchase core based on their needs, optimizing resource usage. Agile Coretime also offers potential monetization for smart traders as core can be traded as NFTs. The community has approved a referendum to reduce inflation from 10% to 8%, with the goal of further reducing it below 5% in the future. Despite the recent purchase, DOT remains under significant selling pressure and is down 70% from March highs. A drop below $3.8 could lead to further selling and new lows.
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