In the early on hours of Feb. 20 Polkadot (DOT) trading volume began to see a significant increment which helped propel the multichain protocol to a new all-time high of $42.28.

Data from Cointelegraph Markets and TradingView shows that DOT hit a swing low at $29.36 on Feb.19 before experiencing a 44% breakout which took the price to a new 2021 loftier.

DOT/USDT 4-60 minutes chart. Source: TradingView

Excitement continues to build in the Polkadot ecosystem alee of the upcoming parachain auctions which volition allow the Polkadot network to connect with other established networks like Bitcoin and Ethereum.

The mechanism by which data is transferred between unlike blockchains is called "cross-concatenation message passing-low-cal," and is currently being finalized during the Rococo phase of the project's roadmap.

In one case the code has been fully audited it volition then exist time for Polkadot governance to vote on enabling parachain functionality via a runtime upgrade, followed past a vote to brainstorm slot auctions to add beneficial parachains.

Social media chatter increased before the spike

VORTECS™ data from Cointelegraph Markets Pro began to observe a bullish outlook for DOT on February. 16, prior to the recent price rise.

The VORTECS™ score, exclusive to Cointelegraph, is an algorithmic comparison of historic and electric current market place weather condition derived from a combination of data points including market sentiment, trading book, recent price movements and Twitter action.

Cointelegraph Markets Pro - VORTECS™ Score (green) vs. DOT toll

As can be seen on the nautical chart above, the VORTECS™ score for DOT reached a peak of 81 on Feb. 16, more than 48 hours before the ensuing cost spike. The data also shows a 102% increase in DOT-related tweet volume that coincides with the rise in price.

The introduction of parachains will assistance motion Polkadot closer to its goal of condign the get-to platform for interoperability and cantankerous-concatenation transfers of data, as well every bit helping with the longer-term objective of creating a fully decentralized and private spider web that is controlled by its users.