1. Polkadot Pledge Status
According to the rules of the Polkadot ecosystem, both validators and nominated validator candidates need to pledge DOT. According to data from KingData, the current Polkadot ecology pledges a total of 677 million DOTs, accounting for 67.7% of the total, of which 3.74 million DOTs are pledged by validators, accounting for 0.5%, and 673 million DOTs are pledged by validators, accounting for 99.4% . The lock-up period for nominated validator stakes is 28 days.
According to KingData's "Polkadot Future Unlocking Amount Index", there are 3 pledged unlocks of over 6 million pieces (worth over 200 million US dollars) of DOT this month. A large number of unlocked means an increase in circulation, so will the upcoming unlocking have an impact on the price? Woolen cloth?
2. Analysis of the impact of historical pledge unlocking on price
The last three large-scale unlocks of DOT are on February 5, 2021, February 13, 2021, and February 23, 2021. Taking history as a mirror, let’s take a look at the impact of these three unlocks on the price.
February 5, 2021
10.3 million DOTs are unlocked. At this time, the price of DOTs is $20.9738. The corresponding pledge time is January 8, 2020. The price of DOTs at the time of pledge is about $9.2431. The average profit of the DOTs pledged by this group of users is 100%+. Afterwards, the price of DOT dropped from $20.97 to $18.46, a drop of about 12%. At the same time, judging from the pledge data, it seems that these users did not pledge DOT again after unlocking.
February 13, 2021
5.98 million DOTs have been unlocked. At this time, the price of DOTs is $28.8. The corresponding pledge time is January 16, 2020. The price of DOTs at the time of pledge is $17.53. The average profit of DOTs pledged by this group of users is 50%+. After unlocking , the price of DOT fell from $28.8 to $23.1, a drop of about 19%.
February 23, 2021
7.6 million DOTs are unlocked. At this time, the price of DOT is $33.78. The corresponding pledge time is January 26, 2020. The price of DOT at the time of pledge is $12.62. The average profit of DOT pledged by this group of users is 260%+. After unlocking , the price of DOT fell from $33.78 to $26.5, a drop of about 21%.
Summarizing the above three unlockings, after each unlocking, the price of the currency at the time of pledge is huge, which is much higher than the average return rate of 20% for re-staking. Therefore, the above three unlockings have caused the price to drop.
3. Analysis of the impact of this unlocking on the price
in conclusion
in conclusion
According to the above conclusion, if the price difference between the unlocking price and the pledge time exceeds 20%, the unlocking will be sold at a profit, which may cause the market to fall; if the price difference is less than 20%, the pledge may continue, and the selling pressure will be small. The impact on market prices is limited.
Look at the DOT data, go to KingData to foresee wealth one step faster.https://www.ikingdata.com/download
IOS
Android