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Polkadot (DOT) trades near the lower boundary of a parallel channel pattern on the weekly timeframe. The crucial support area has gained significant attention because buying demand has increased while volume patterns indicate accumulation activities. The current market situation indicates Polkadot could potentially experience an upward movement if its present support level maintains strength, which […]
According to a Messari report, the Polkadot (DOT) blockchain protocol made significant progress in the first quarter (Q1) of the year in terms of market capitalization, revenue, and Cross-Consensus Message Format (XCM) activity, as well as a record increase in daily active addresses. DOTs Market Cap Surges 16% QoQ During Q4 2023, Polkadots market capitalization [...]
The post Record-Breaking Q1 For Polkadot: Daily Active Addresses Hit 514,000 As DOT Price Surges 7% appeared first on Crypto Breaking News.
Polkadot (DOT) has come under the spotlight with crypto analysts laying out bullish narratives for the crypto asset. One of them is crypto expert Michaël van de Poppe, who believes Polkadot could rise to as high as $25 in this bull run. Polkadot Could Reach $25 On Next Leg Up Michaël van de Poppe mentioned in an X (formerly Twitter) post that Polkadots next rally will see it climb between $20 and $25. He explained that the crypto token has seen a substantial correction in the past months, but it showed enough strength by coming back to pre-rally levels. The analyst further claimed that Polkadot has bottomed, especially since JAM Whitepaper came out. Related Reading: PEPE Whales Go On Massive 720B Shopping Spree Amid Campaign For New ATHs, Is It Time To Get In? As such, he believes that Polkadot is more than primed for this rally, which could propel it to such heights. The crypto analyst has been a big believer in Polkadots potential. He previously included Polkadot in a list of crypto tokens that he believes are undervalued. He claimed that DOTs valuation was still at a cycle low, which had opened up a huge opportunity to invest in it. Van de Poppe is very much invested in Polkadot because of its technology. In a previous X post, he highlighted how the JAM (Join-Accumualte Machine) Paper, which ushered in Polkadot 2.0, would revolutionize DOTs ecosystem. He also claimed that Polkadot is the second largest blockchain in terms of developers and growth. Therefore, he expects DOTs price to complement the teams efforts soon enough. Meanwhile, Van de Poppe expects Polkadot to reach as high as $20 in the third quarter of this year. For now, he believes that the $8 and $17 range are crucial resistance levels that the crypto token must break out of to enjoy such a parabolic rally. A More Bullish Prediction For DOT Crypto analyst Crypto Thanos offered a more bullish prediction for Polkadot, stating that the crypto token climbing above $50 is easily achievable in this bull run. He believes this price is attainable because he expects institutions to get interested in large caps like Polkadot. He also noted Polkadots collaboration with Tie, which aims to increase institutional exposure and access. It is worth noting that Polkadots all-time high (ATH) is currently $55, which makes Thanos prediction for the crypto token feasible. Crypto tokens are known to usually surpass their ATH in every bull run. Related Reading: Why Is This Crypto Pundit Warning XRP Investors To Be At Alert For The Next 3-12 Months Crypto analyst Captain Faibik provided insights into what to expect from Polkadot in the short term. He predicts the crypto token will record a 35% bullish rally soon enough. He said a major trendline breakout/retest has already been confirmed for DOT on the four-hour timeframe chart. At the time of writing, Polkadot is trading at around $7.11, up over 2% in the last 24 hours, according to data from CoinMarketCap. Chart from Tradingview.com
Polkadot (DOT), one of the top-performing cryptocurrencies, is showing strong potential for a breakout as the market stabilizes after a turbulent period. Following a sharp decline in Bitcoins price below $80K, altcoins, including Polkadot, experienced considerable volatility. However, with the market now regaining stability, Polkadot seems to be on a positive upward trajectory, offering an […]
Gavin Wood, the founder of the Polkadot protocol, has unveiled a new Gray Paper outlining the forthcoming Join-Accumulate Machine (JAM) upgrade for the network. This announcement occurred during Wood’s presentation on Polkadot’s future at the Token2049 crypto conference in Dubai. Wood introduced the JAM Implementer’s Prize, a 10 Million DOT prize pool, to encourage diverse development of the JAM protocol. Polkadot Unveils JAM Upgrade According to the announcement, the JAM upgrade aims to replace the relay chain, which acts as the central data chain in the Polkadot network, with a “more modular and minimalist design” that will allow Polkadot to run generic services and increase network stability. Related Reading: Ripple CEO Walks Back $5 Trillion Crypto Marker Prediction, Unveils New Target The parachains service within JAM will support existing Substrate-based parachains, enabling developers to continue using Substrate to develop and deploy their blockchains. Notably, these services will have no predefined limits on code, data, or state capacity and can accommodate additional DOT deposits for increased capacity. JAM’s design includes several technical improvements. It replaces WebAssembly with the Polkadot Virtual Machine based on the RISC-V ISA, an open-source instruction set architecture (ISA) used to develop custom processors. It also introduces SAFROLE, a SNARK-based block production algorithm. These upgrades are reportedly designed to optimize performance and scalability within the Polkadot network. On The Path To Decentralization? To realize the vision of a truly decentralized protocol, Polkadot aims to support multiple client implementations. Furthermore, the JAM Implementer’s prize has been established to incentivize and fund projects contributing to the development of JAM implementations. The announcement further reads on the matter: We believe that supporting a range of implementations in various programming languages will strengthen the ecosystems foundation. It distributes the power of protocol implementers more widely and reduces the risk of a bug in one implementation taking down the entire network. The JAM Implementer’s Prize will collaborate with existing and future funding initiatives that support Polkadot’s ecosystem and technology stack. These initiatives include Decentralized Futures, Grants, and Polkadot’s on-chain treasury. The prize will be activated when JAM is ratified as a Polkadot technology through the network’s on-chain governance mechanism. Related Reading: Railgun Among Crypto Market Top Gainers: Why Is RAIL 53% Up? Overall, Gavin Wood’s introduction of the JAM upgrade and the associated 10 Million DOT prize reflects Polkadot’s intention to increase the protocol’s use and adoption. JAM’s modular design and incentives for multi-client implementations are also expected to contribute to ongoing efforts to decentralize the Polkadot network. As JAM development continues, the Polkadot ecosystem welcomes proposals from teams interested in implementing it in various programming environments. Despite the recent announcement, the network’s native token, DOT, has been unable to break the downtrend witnessed over the past month. Currently trading at $6.75, it reflects a significant 24% decline in price over the last 30 days. Featured image from Shutterstock, chart from TradingView.com
Polkadot (DOT) price has taken a dramatic turn, breaking below the crucial $4.8 support level, a critical threshold that previously provided stability for the asset. This decisive move to the downside signals increased bearish pressure, as sellers continue to dominate the market. With DOT now trading in a vulnerable zone, concerns are mounting over whether further losses could be imminent. Despite the bearish outlook, the $3.5 key support zone remains in focus, offering potential areas where DOT could stabilize or even stage a recovery. If bulls step in with strong buying momentum, the price could attempt to reclaim lost ground. However, failure to hold above these crucial levels may result in a deeper correction, pushing DOT toward even lower price points. Market Sentiment And What It Means For Polkadot Market sentiment plays a crucial role in shaping Polkadots price action, especially after its breakdown below the $4.8 support level. Currently, bearish sentiment dominates as traders react to increased selling pressure. Fear of additional losses may cause short-term holders to exit their positions, potentially fueling a deeper decline toward key support zones. Related Reading: Polkadot (DOT) Defies Market Volatility, Holds Strong Above $4.8 Support Level The price has also slipped beneath the 100-day Simple Moving Average (SMA), a key technical indicator that often determines market trends. This breakdown suggests that bearish momentum is strengthening, as the SMA typically acts as a dynamic support level in an uptrend. Should DOT fail to reclaim this level in the near term, selling pressure might intensify, leading to further declines. However, a decisive move back above the 100-day SMA could indicate a potential reversal, allowing bulls to regain control and push the price higher. Polkadot recent drop below $4.8 is reinforced by bearish technical indicators, suggesting the downtrend may continue. The Relative Strength Index (RSI) is trending downward, indicating weakening momentum and a lack of strong buying interest. Potential Scenarios: Rebound Or Continued Decline? The recent breakdown of Polkadot below the $4.8 support level has left the market at a crossroads, with two primary scenarios emerging: a potential rebound or a continued decline. Should buyers step in at the $3.5 support level, DOT could attempt a recovery, targeting resistance at $4.8 and possibly $6.2. Related Reading: Polkadot (DOT) Breakout Looms With $17 Target In Sight Details A strong rebound from this zone, supported by increased volume and improving market sentiment, may signal a bullish reversal and reignite upward momentum. On the other hand, if selling pressure persists and DOT fails to reclaim key levels, the decline might extend toward $3.5 or even $1.9, with traders growing cautious amid weakening technical indicators. Featured image from Medium, chart from Tradingview.com
What will happen in the coming weeks? What does the Polkadot forecast for March 2023 look like? How high can DOT go?
The key factors that could potentially impact the price of DOT in the next few months and whether can Polkadot reach $10
The year 2023 is said to be huge for Polkadot (DOT) as it is one of the cryptocurrencies to watch out for. Many crypto experts are very optimistic about Polkadot, and they’re saying that traders should keep an eye on the coin because its developments will be big for that year. DOT is looking bearish but can pivot to a bull run in the coming days Polkadot is said to be an attractive addition to the investment portfolio for 2023 DOT price is down by 1.43% While DOT isn’t performing well as of press time, crypto experts believe that this is the best time to buy. The coin is regarded as one of the safety nets and best bets to include in your portfolio for next year. According to CoinMarketCap, DOT price is down by 1.43% or trading at $4.28 as of this writing. And many crypto experts think that the discounted price should entice more traders to buy while the prices are still low because it’s bound to spike by next year. Polkadot: One Of The Most Liquid Assets Even though Polkadot has depreciated in value, it’s still the top-rated crypto in terms of capturing investor interest. It stands out when pitted with other cryptos as it’s also one of the popular liquid assets included in hedge fund portfolios. Indeed, there is an increasing demand for Polkadot, and it is seen to have the most potential to rise in 2023. In fact, as early as now, many top investment companies and even hedge funds are putting most of their eggs on the Polkadot basket. Related Reading: Hedera: Is 2023 The Comeback Year For HBAR NFTs? DOGE total market cap at $9.06 billion on the daily chart | Chart: TradingView.com DOT May Kick Off Bullish Run Polkadot has been looking bearish as it recently dipped to as low as $4.20 in the past 24 hours. This retreat has attracted investors in the past, and it may also draw them in now. On the other hand, DOT’s technical indicators hint at some bullish movement, with its volume reached a new low as registered on December 25. Still, it is now slowly recovering from the slump. Related Reading: Dogecoin Breaking Past This Key Barrier Could Spell 10% Spike For DOGE Eco-Friendly Crypto DOT’s market capitalization shows that the bears still dominate the market for December, but its market cap has an uptick by $100 million overnight, which looks like an accumulation. More so, the development activity is also seen to nosedive, which can be worrisome, especially for investors. Meanwhile, Polkadot, along with Cardano and Algorand, is among the most eco-friendly cryptocurrencies, according to a new analysis by the Traders of Crypto. Polkadot ranks as the fourth most eco-friendly digital money, with annual carbon emissions of 50 tons. – Featured image: VOI
Polkadot has been one of the breakout stars of 2022. The cryptocurrency has managed to thrive in a market where most digital assets are taking a beating and losing value rapidly. With its breach of $8, the cryptocurrency has taken another step as it cements its position as one of the largest contenders in the space, dethroning the beloved Dogecoin in the process. Polkadot Takes 10th Place Meme coin Dogecoin has been able to maintain its position in the crypto top 10 by market cap over the last couple of weeks. However, this changed this week with the recent Polkadot rally. The digital asset had more than 7% in the last seven days to bring its trading price higher than $8.5, and this pushed its already impressive market cap over the $9.4 billion mark. Related Reading: Here’s What Bitcoin Institutional Inflows Says About The Month Of July The result of this was that the market cap of DOT surpassed that of Dogecoin. Polkadot is now ranked as the 10th largest cryptocurrency by market cap, but that’s not all. Even as the market is recording a retracement, DOT remains one of the only cryptocurrencies to mark green over the last 24 hours and one-week timeframe. At the time of writing, DOT is currently trading at $8.52 with a 24-hour recovery of 6.15%. It’s interesting that the digital asset is trading this high, given that its trading volume is actually down. With $427 million in trading volume over the last day, it is down more than 8% in this regard. DOT trending at $8.3 | Source: DOTUSD on TradingView.com As a general rule, Polkadot looks to be following the recovery trend of Ethereum. This breakout in the largest decentralized finance (DeFi) network had spread to other networks, causing them to see the largest recovery during this time. DOT Eyes $9 The recovery in the price of Polkadot has set it on an incredibly bullish path. It has now hit important technical levels, which propose that the recent rally may still have some steam in it. Most prominent of this has been the digital asset’s climb above its 50-day moving average of $7.4. Related Reading: Bitcoin Miner Revenues Continue To Grow, Will This Put A Stop To The Sell-Offs? Since investors are willing to buy the cryptocurrency at higher prices, the buying pressure is mounting, especially as sellers experience fatigue during this time. Additionally, with the recent high rates of inflation, more investors are moving into the decentralized finance market in a bid to find suitable hedge for wealth. DOT also has some free range to grow, given that the next significant resistance point lies at $9. This price point is incredibly attractive for bulls as it puts DOT on a platform to contend for 9th place with DeFi competitor Solana. Featured image from Phemex, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
On July 2, the bullish DOT price analysis is at $8.38. DOT’s bearish market price analysis for July 2, 2022,
On June 8, the bullish DOT price analysis is at $10.84. DOT’s bearish market price analysis for June 8, 2022,
What is DOT crypto and Polkadot blockchain? Is Polkadot a good investment in 2022? Where to buy Polkadot coin DOT?
The post Where to Buy Polkadot Coin & Is Polkadot a Good Investment? first appeared on StealthEX.
Polkadot was considered one of the most exciting projects on the crypto market last year. With the goal of its own blockchain internet, the project in 2021 gave hope to enhance the connection of different blockchains with each other. Is this vision still alive in 2022 and can Polkadot crypto take hold over the next few months?
What is the Polkadot Crypto?Polkadot is a blockchain project launched in 2017 by the Swiss non-profit organization Web3 Foundation. The inventor of the project is Dr. Gavin Wood, one of the co-founders of Ethereum and one of the developers of the Solidity programming language for smart contracts. The ICO in 2017 raised $145 million at the time.
When the company was founded, 10 million DOTs were issued as network tokens. The number of DOT increased to a number of 1 billion in August 2020 for the sake of simplicity. The project is still in ongoing development. However, a large part of the desired functions of the network has now been implemented.
How does Polkadot Work?Polkadot is intended to form a blockchain network that connects other different blockchains with each other and thus creates a so-called "Internet of blockchains". In other contexts, there is also talk of Web 3.0. The unique selling point is the so-called parachain, which connects and communicates with different blockchains. As a consensus mechanism, Polkadot uses NPoS (Nominated Proof of Stake) protocol.
The network token DOT has several roles at Polkadot:
As previously mentioned, the Polkadot Network is still evolving in 2022. The development of a coherent network of all blockchains is an extremely ambitious goal. After a lot of hype at the beginning of the fourth quarter of 2021, Polkadot has calmed down a bit. A major milestone was the "Parachain auction" of the Polkadot Blockchain and its "little brother" Kusama in November last year.
More recently, Polkadot made the news when the network raised millions of dollars in donations for Ukraine to aid in the war against Russia. This shows that Polkadot can have real-world uses beyond the potential formation of Web 3.0.
Polkadot Price Prediction - will DOT perform in 2022?Polkadot's DOT token, like many other cryptocurrencies, experienced a steep rise in 2021. However, the DOT also lost significantly in the last 3 months as the market went through a severe correction. At the beginning of March 2022, DOT price is around $18 (as of 03/09/2022), which is 12th place among all cryptocurrencies by market capitalization. This is almost 70% lower than the all-time high of $55 on November 04, 2021.
Fig.1 DOT/USD 1-day chart showing the important levels of DOT - TradingViewAs seen in figure 1, the current price of DOT is sitting at the strong support price of $16. If the entire crypto market continues to recover upwards, many traders expect prices of DOT to reach $23 as a first target, then $30 as a second target. This will yield around 50% if we buy around today's price.
On the other hand, a sensible stop-loss would be right below $16, depending on the risk tolerance of each investor. Placing tight stop-losses can be quite disappointing, especially in volatile times.
Conclusion - is Polkadot Good in 2022?The Polkadot project continues to be extremely ambitious and is pursuing its vision of the internet of blockchains. The successful parachain auctions in November 2021 were the first step in this direction. However, there are similarly exciting projects at the moment such as the growth of the Terra ecosystem and the upcoming basho development stage at Cardano.
In the current market correction, enthusiasm for the Polkadot project and the idea of ??Web 3.0 has waned somewhat. If the developers of Polkadot can implement their visions of increasing connectivity of all major blockchains in the next few years, the DOT token could still increase in value massively in these years.
You can purchase Polkadot's DOT token in 2022 on crypto exchanges Coinbase and Kraken .
Polkadot© Cryptoticker
The inverted head and shoulders pattern hints at a decisive breakout move in the Polkadot market.
Polkadot interoperability with other developed projects like Ethereum is the project’s primary proposition. However, adding scalability to the mix gives it an edge over other similar protocols explaining why DOT—the primary currency priming Polkadot’s ecosystem—is one of the most liquid, and Polkadot is one of the most valuable projects, earning... Read More
Polkadot, the computing platform known for its interoperability and scalability, has shown remarkable growth in key metrics during the latter part of 2023, as outlined in a recent report by Messari. Outpacing Crypto Market Growth According to Messaris findings, Polkadots circulating market cap experienced a remarkable 111% quarter-on-quarter (QoQ) growth, reaching an impressive $8.38 billion. [...]
The post Polkadot (DOT) Circulating Market Cap Rockets To $8.3 Billion, Registers Massive 111% Growth appeared first on Crypto Breaking News.
Polkadot (DOT) price is edging closer to the $6 threshold, target. This comes after the July 13 crypto market rally, steered by the Ripple (XRP) [...]
Polkadot (DOT) has entered a consolidation phase, trading below the $6 mark after a strong 30% rally since last Friday. This period of sideways movement has brought some volatility, but market conditions suggest DOT might be gearing up for its next major move. Investors watch the asset closely as it maintains a bullish structure despite [...]
The post Polkadot Holds Key Demand Level DOT Could Hit $11 In Coming Weeks appeared first on Crypto Breaking News.
The cryptocurrency market saw some of its best days over the past week, with several altcoins enjoying the positive climate surrounding the industry at the moment. While the top meme coins like Dogecoin, Shiba Inu, and Pepe were the biggest beneficiaries of the recent bullish momentum, altcoins like Polkadot also showed good signs of impending upward movement. According to data from CoinGecko, the Polkadot price has witnessed an almost 15% increase in the last 24 hours. A popular crypto pundit on the social media platform X has said that the bullish run for the DOT token is only just about to commence while predicting the next price target for the altcoin. DOT To Surge 30% In The Next Few Days Heres How In a November 16 post, prominent crypto expert Ali Martinez shared an exciting analysis for the Polkadot price over the next few days. According to the analyst, the current outlook of the altcoins price suggests that it might be ready for a significant run to the upside. Related Reading: Bitcoin Surges Past $93,000 Can A Breakthrough Unlock New Heights? The rationale behind this bullish projection is the formation of a bull flag pattern on the four-hour timeframe of the Polkadot price chart. The bull flag is a technical analysis pattern marked by a period of steep upward movement (the flagpole) typically followed by slight sideways price action. The bull flag is usually considered a prevailing continuation pattern for an upward trend, signaling a potential move to a higher price point. However, it is important to wait for a confirmed break out of the consolidation before ascertaining that the price will continue its upward trajectory. As shown in the chart above, the price of DOT originally appeared to be in a bull pennant as it moved towards a convergence. However, the Polkadot price broke out of the consolidation period early, forging a bull flag out of what initially seemed like a pennant pattern. Nevertheless, the price of Polkadot appears to be on the rise, with Martinez putting the altcoins next stop at $7.50, which represents a more than 30% rally from the current price point. It is worth mentioning that this exact projection was made by expecting future prices to mirror the length of the initial flagpole. Polkadot Price At A Glance As of this writing, the Polkadot token is valued at around $5.74, reflecting an impressive 15% surge in the past day. Meanwhile, the altcoins performance is even more remarkable on the weekly timeframe. According to CoinGecko data, DOT is up by more than 30% in the last seven days. Related Reading: As Bitcoin Rises, Why is Ethereum Struggling To Catch Up? Analyst Explains Featured image from iStock, chart from TradingView
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