Polkadot: Why this weak link may overshadow DOT's latest gains
Rising engagement, transactions, and social mentions align with Polkadot's proactive development, painting a promising picture ahead.
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Rising engagement, transactions, and social mentions align with Polkadot's proactive development, painting a promising picture ahead.
PolkaSafe on the Polkadot network proposes to make new changes and hints at collaboration with various firms. Despite new developments, Polkadot fails to see growth on the social front.
Polkadot's staking ecosystem has been growing since July 2023. Its TVL has also been on the rise for multiple months.
Polkadot (DOT) has managed to capture the attention of traders and investors alike. Despite a persistently bearish market structure, recent indicators point towards a potential bullish recovery on the horizon.
After today's Bitcoin ETF decision delay, BTC's boring price action looks set to carry on through the weekend.
The crypto market has always been characterized by the importance and utility of different projects : two major crypto Polkadot (DOT) and Chainlink (LINK), have been no exception to this trend.
Despite DOT's market structure staying bearish, a bullish recovery looked increasing likely, due to the market showing signs of revival.
In the ever-evolving and dynamic world of cryptocurrencies, the spotlight is currently shining brightly on some notable Web3 projects: Polkadot ($DOT), Chainlink ($LINK), and the emerging player Launchpad XYZ ($LPX). As the crypto market experiences shifts in sentiment and investor focus, these tokens are drawing significant attention due to their potential for bullish momentum and growth, aligning with the broader optimism prevailing in the digital asset landscape.
Bitcoin's sharp recovery to $30,000 proves that bulls are buying BTC and altcoins at lower support levels.
Although Polkadot showed some recovery on the price front, its social metrics didn't exactly paint an all-bullish picture. To add to the misery, DOT's price indicators also needed some recovery.
Can bulls take advantage of selling pressure slowing down to rally from the $5 psychological level?
Bitcoin continues to range-trade and altcoin traders are starting to view BTC's price consolidation as a positive sign for the rest of the crypto market.
Bitcoin is witnessing a strong battle between the bulls and the bears with the sellers currently holding a slight edge.
A tweet from Polkadot Insider highlighted that the network had been doing extremely well on the social front. However, DOT's price failed to follow suit.
Bears crack bullish staunch defense of $5.23 support level amidst Bitcoin dip under $29k.
Maintaining a declining trend in the daily chart, DOT Coin price forms a descending triangle pattern. After struggling to exceed the $7.55 resistance level, DOT prices currently trade at a 33% discount from the previous swing high. Moreover, the price action forms a consolidation phase between $5 and $5.
Gavin Wood, the founder of Polkadot, has found himself at the center of a contentious issue after attaching a condition to a potential $5 million donation aimed at assisting the Ukrainian government during the crisis caused by the Russian invasion. The conditional nature of the donation has sparked debates, with some questioning the sincerity of the gesture and labeling it as more of a marketing strategy than a purely humanitarian act.
The crypto space continues to remain within the same narrow region as the tokens undergo a minor upswing compared to the previous day's close. Not much variation has been recorded since then as the star crypto continues to chop around $29,500, failing to rise above these levels.
Due to a series of upgrades to the network in the past few months, Polkadot's development has rallied to an all-time high.
Bitcoin's price action remains lackluster, but select altcoins are showing signs of breaking out of their respective resistance levels.
Polkadot's DOT token has recently exhibited a slight recovery, with a 0.94% rise in the past 24 hours, bringing its price to $5.24. With a market capitalization of $6.72 billion, Polkadot stands as a leading smart contract platform with a focus on driving blockchain interoperability.
Interoperability blockchain Polkadot (DOT) and its canary test network Kusama (KSM) continue to outrun the rest of the crypto space in terms of development activity, according to the crypto analytics firm Santiment. Santiment notes that Polkadot and Kusama both registered 527.7 notable GitHub commits in the past 30 days, leading all other crypto projects.
The humanitarian crisis in Ukraine is one of the worst in recent history. Millions of people have been displaced from their homes, and thousands have been killed.
To mark Beatport's Web3 launch on Polkadot, it's issuing the limited collection ‘NACHTS' from Berlin-based photographer Mischa Fanghaenel.