T-Systems Multimedia Solutions (MMS) – a subsidiary of Deutsche Telecom (DT), has acquired Polkadot (DOT) tokens. What is behind the transaction and what plans DOT has for the future will be discussed in this article.
For Deutsche Telekom, involvement in blockchain technology is not new
According to an announcement issued by T-Systems Multimedia Solutions, the company has purchased a significant amount of Polkadot (DOT) tokens. The blockchain managed by Ethereum co-founder Gavin Wood features the ability to link different independent chains, and the so-called parachains are used for this purpose.
According to Dr. Andreas Dittrich, head of the Blockchain Solutions Center at MMS, Deutsche Telecom is thus drawing attention to the importance of cooperation between people and companies. He also points out that DT will be running multiple private and public validators for the popular network.
Dittrich revealed that MMS plans to create and develop its own applications on the Polkadot Substrat software platform. This will enable the creation and release of blockchain for company projects.
Deutsche Telekom is one of the most well-known companies in the world. It is present in many countries, providing its telecommunications services there. It owes its recognition among others to the quality of its services, its sponsorship of the Bayern Munich football team and the fact that it is heavily involved in the world of cryptocurrencies. This is its fourth investment. In April this year DOT also invested in the Celo network, which in turn is part of DeFi.
Important cooperation for Polkadot
Deutsche Telekom’s investment is very bullish news for Polkadot (DOT). As with the Celo network, it increases the credibility of the project. After the November parachain auctions, DOT’s growth rate slowed down significantly. Meanwhile, with the news came a significant uptick in investors, who, on the day of DT’s announcement, raised the value of the DOT token by more than 8%.
Looking at the DOT chart, we can see that the announcement coincided with an emerging bullish divergence, suggesting a breakout. It helped push the price of the token above the 200-day moving average (blue line), which may suggest a continuation of the trend that was initiated. This is also confirmed by the MACD indicator, which forms successively higher green candles on the histogram. In addition, the structure of higher lows has been perfectly drawn, contained in a very wide channel, where the lower trend line has the right to act as strong support in the future.
Polkadot (DOT) is a very interesting project with an ambitious application. If you do not know yet what it is based on, we encourage you to read the material titled “What is Polkadot (DOT)?”. It will give you necessary information about it.
