Even as ChatGPT is confident of Polkadot reaching the price range of $70-$90 in 2024, its on-chain metrics point towards a bearish cycle.
in its judgement that the sale of Ripple’s XRP tokens on crypto exchanges and though programmatic sales did not constitute investment contracts; hence, it is not a security in this case. But the court also ruled that the institutional sale of the XRP tokens violated federal securities laws.Polkadot’s ecosystem
To understand the potential impact of these new developments on DOT’s value, we tapped into ChatGPT to gain more nuanced insights and gauge the AI model’s apprehension of Polkadot’s ecosystem.
For example, Coinbase recently received a Wells Notice from the SEC. One of the objects of the potential lawsuit is reportedly its crypto-staking service. At this point, one thing is crystal clear. Parachains’ development can drive demand for DOT tokens because project teams need them to win a parachain slot auction. Based on this, how will the 21 newly added parachains impact DOT’s value?We need to put a figure on the above possible upward pressure on DOT’s value due to the added parachains. We pulled historical price data on DOT to help make future price predictions.
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