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Polkadot Primed for Bullish Events Ahead, TikTok-Like Parachain in the Works, Could DOT Price go 10x This Cycle?

source-logo  cryptonewsland.com 20 May 2024 05:03, UTC
  • Polkadot may build a TikTok like Parachain on the network to unlock SocialFi possibilities.
  • The blockchain is also bullish on global event for the next few weeks.
  • Could the price of DOT overtake its previous ATH this cycle and 10x?

Founder of Project Liberty, and Executive Chairman of McCourt Global Frank McCourt expresses interest in buying and rebuilding TikTok as a greater and newer version on the Polkadot Network.

Looks like @one_frequency one of the parachains on @Polkadot feels quite ready to crunch the insane volumes of social media traffic from apps like @tiktok_us Speaks volumes about the scaling tech Polkadot enables. A little reading on why they've chosen us to be their home… https://t.co/EvwPinUZ2i

— Radha (@DrW3RK) May 15, 2024

In detail, the One Frequency Parachain on Polkadot feels it is ready to crunch an incredible amount of volume of social media traffic from TikTok into Web3 spaces to give users the right to own and control their identity and personal data with blockchain technology.

Besides this announcement, the Polkadot project has made other bullish strides over the last week. For instance, the Founder of Global Accelerator shares their intent to launch the first Web3 Founder Academy with Polkadot.

🚀 Dive into Polkadot's latest buzz from last week(May 13th – May 19th)

Frank McCourt, Executive Chairman of McCourt Global and founder of Project Liberty, plans to acquire and rebuild @tiktok_us! The @one_frequency parachain might use Web3 technology to reshape TikTok! 🔄📱… pic.twitter.com/FMpeVqpmaK

— PolkaWorld (@polkaworld_org) May 20, 2024

Similarly, the ‘Behind the Code’ documentary series gets another update since 2022, Building the Future of Web3. Also, signed copies of the Ethereum Yellow Paper, JAM Gray Paper, and the Polkadot White Paper are all up for auction. The highest bid for the JAM Gray Paper is 60,000 GLMR. All proceeds will be donated to charity.

Polkadot has also shared upcoming bullish appearances for the coming weeks. To highlight, Polkadot will join Consensus 2024 from May 29 to May 31. You can find them at booth 1209 to explore their brand, ecosystem projects, and snag some merch.

Next, Polkadot Decoded will take place from July 11 to 12 in Brussels, Belgium where over 100 speakers and 100 blockchain projects will participate. The Polkadot ecosystem’s DePIN project, Peaq Network, makes it into Mastercard’s Start Path program.

With all these bullish announcements, it looks like Polkadot is well-positioned to enter the upcoming crypto golden bull run. How high will the price of DOT go? Will its beat its previous ATH? According to CoinMarketCap, the current price of DOT is $7.