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The Polkadot price analysis is on the bullish side as bulls push DOT/USD past the $7.06 mark. The cryptocurrency is currently facing resistance at $7.23, but if it can break through this level, it could see further gains in the coming days.
Polkadot's native token DOT is no longer a security, according to the Web3 foundation. Polkadot said it has been working with the Securities and Exchange Commission's FinHub on the process.
Web3 Foundation has made a conclusion based on SEC terms that Polkadot is not a security
Web3 Foundation's chief legal officer Daniel Schoenberger argued that Polkadot's native token DOT has “morphed” and is software, not a security. The post Web3 Foundation claims Polkadot's native token DOT is software, not a security appeared first on CryptoSlate.
Web3 Foundation chief legal officer announces that DOT should be treated as software after three years of discussions with SEC
Polkadot price analysis is bullish, with the DOT/USD pair rising to the $7.04 level. However, the digital asset is facing resistance and may pull back to test support at $6.75.
Web3 Foundation, the entity in charge of research and development of the Polkadot ecosystem, has stated that Polkadot's native token, DOT, is no longer a security. According to the foundation, the DOT token has morphed and can no longer be classified as a security by the Securities and Exchange Commission.
Polkadot (DOT), the world's 12th largest cryptocurrency, debuted in 2020. It is an open-source blockchain that enables blockchain interoperability and interconnection.
Polkadot (DOT) trades above the moving average lines and recovers to reach the previous highs. The bullish rise in the previous price action was rejected at the high of $6.83.
According to CLO Daniel Schoenberger, the team developed a “workable theory of how token morphing may be achieved” for DOT based on the SEC's concerns and federal securities laws.
Polkadot developers say token has decentralized sufficiently to no longer be considered a security. The post Polkadot backers say SEC should no longer treat token as a security appeared first on The Block.
Polkadot price analysis for today shows a bullish trend, as the DOT/USD pair has risen to $6.72. The strongest resistance for DOT is currently at $6.77, but if this level is surpassed, it could potentially lead to further gains.
Polkadot price analysis is indicating a bullish price movement for today after the market trends shifted towards a bullish drift. The price value, after correcting down to $6.19, has taken an upturn and is currently trading at $6.47.
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Last week we saw Polkadot's native cryptocurrency DOT pull off its sharpest bullish pivot since July. It is thus unsurprising that analysts might expect or hope for another major rally especially after it recently retested its lower range.
Polkadot price pulled back in the overnight session as investors focused on the FOMC meeting. DOT dropped to a low of $6.16, which was the lowest level since October 25.
Polkadot price analysis shows a downtrend in the market as the price function deflates down to $6.35. This bearish trend emerged as sellers regained control and the DOT/USD pair struggled to break above resistance at $6.54.
Polkadot price analysis shows DOT prices are still in a bearish market as they dip further to lows of $6.48. Polkadot price has been struggling to break past the resistance level at $6.71 and continues to face downward pressure.
Polkadot [DOT] has been in the spot light for quite some time now owing to its high development activity. DOT made headlines once more for the same reason, as it ranked second among crypto projects in terms of development activity in the last 30 days, only behind Cardano [ADA].
The Polkadot (DOT) price has yet to break out from long-term resistance levels in the weekly time frame. However, the daily chart supports the beginning of a bullish reversal which could then continue in the weekly time frame.
Polkadot's parachains were observed to be performing well in the past seven days. The growth of the parachains could aid Polkadot to witness some growth in the near future.
A rising wedge pattern was spotted for Polkadot. Bearish order block heightened the likelihood of a pullback
Polkadot is giving smaller investors the opportunity to participate in native staking with the launch of a new feature called “Nomination Pools”, which allows anyone to help secure the network and validate transactions with as little as 1 DOT. Staking is a mechanism found in proof-of-stake blockchains that enables the community to support the network.
Polkadot price analysis is bullish today after the price broke the $6.53 barrier to rising to $6.80 over the past 24 hours. The price levels have covered an upwards range, as the bullish momentum has proved to be quite steady.
