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Positive U.S. economic data initially propped up crypto and stock markets, but it appears that bulls lack the might to keep the rally rolling.

Polkadot has announced the go-live of an upgrade to its Cross-Consensus Messaging (XCM) infrastructure.

Polkadot has released version 3 of its cross-chain messaging format called Cross-Consensus Messaging (XCM). The post Polkadot enhances cross-chain abilities between its blockchains appeared first on The Block.

Polkadot price analysis reveals that the cryptocurrency has been overpowered by a bullish strike that started a few hours before. The strong drop in the price happened at the time when the market turned bearish, the DOT price has been struggling to stay afloat above the $6 mark.

One of the most recent and significant progressions in the cryptocurrency industry to have happened so far in 2023 is the merge of Polkadot XCM version 3 (XCM v3).

Bitcoin's chart shows a tug-of-war between bulls and bears, and this is having a slight impact on the upward price action of most altcoins.

Monero rebounded from recent losses on Tuesday, as the token attempted to recapture recent highs. The move comes as U.S. markets reopened following a public holiday on Monday. Polkadot also moved higher in today's session, snapping a two-day losing streak.

Polkadot [DOT]‘s development activity soared over the past few months, Token Terminal reported on 16 January. This spike in activity could be attributed to the growing number of projects and developments within the Polkadot ecosystem.

Among the most prominent coins in terms of results and outlook according to analysts are DOGE, DOT and AVAX

Invest in these robust and safe cryptos that will make you rich in 10 years and beyond

Polkadot price analysis shows that the bulls are trying to recover once again. The price has been rising and is planning to breach past the $6.07 resistance.

Polkadot has been riding the crypto wave since the start of the broader market rally. According to CoinGecko, the biggest gainers in the entire space are altcoins.

Polkadot [DOT] was in the news again as it managed to gain the #1 rank on this list of cryptocurrencies with the highest Nakamoto Coefficient metric. The Nakamoto Coefficient shows the number of validators (nodes) required to successfully slow down or prevent any particular blockchain from operating as intended.

A rush of buying led to liquidations and a spike in crypto assets today.

Polkadot price analysis shows highly bullish signs on the daily view, as price boosted up by more than 12 percent over the past 24 hours. DOT moved up to $6.38, the highest point in over a month with today's extension, with price also looking likely to move up to $7.50 over the current trend.

On January 14th, the Polkadot coin price witnessed a significant inflow which surged the prices by 12% on the intraday level. Moreover,  this massive bullish candle breached the long-coming trendline, indicating a high possibility of potential recovery; how far this ongoing recovery may rise?

Double-digit price surges from SOL, DOT, MATIC, and a few more have helped the market cap increase.

In the last week, Polkadot (DOT) showed a comparatively low tendency to cause price inconsistency. In fact, according to analysts, investors are advised to forgo buying DOT coins in the short term.

With Bitcoin surging past $20,000, altcoins like DOT (Polkadot) have been riding the broader crypto rally which started since the beginning of 2023. According to CoinGecko, the token is trading at $5.94, and has risen by more than 12% in the past 24 hours and 33% in the weekly.

Polkadot (DOT) price has declined since its high of $5.28. If it goes back above the breakout level of $5.00, the uptrend will continue. The uptrend will then continue to the high of $7.50.

Polkadot [DOT] posted over 23% gains in the past two weeks. It rallied from $4.271, at the end of last year, to a high of $5.272, at press time.

Polkadot [DOT] recently made it to the headlines, not for its development activity, but this time for revenue. It ranked second on the list of top blockchains in terms of revenue performance in the last seven days.

Bitcoin and select altcoins have risen above stiff overhead resistance levels, signaling that the bottoming process may have begun.

Even though cryptocurrency isn't as prone to inflation in the same way government-backed money is, some factors influence the overall crypto market. The value of crypto dipped across the board after the collapse of FTX, with major projects such as Solana and Polkadot losing value.