The digital asset market witnessed its first full week of inflows in 2025, with $48 million added to investment products, according to CoinShares’ latest weekly report. CoinShares reported that the week began with promising inflows nearing $1 billion. However, these gains were nearly erased as $940 million flowed out later, reflecting how sensitive the market […]
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De cryptomarkt blijft zich in een hoog tempo ontwikkelen en investeerders zijn dan ook continue op zoek naar de meest veelbelovende activa om aan hun portfolio toe te voegen. Nu Bitcoin met zijn schommelingen weer eens bewijst hoe volatiel de cryptomarkt is, hebben wij ChatGPT gevraagd om een top 3 van de beste crypto’s te maken. Het antwoord Ethereum ($ETH), Solana ($SOL) en Polkadot ($DOT). In dit artikel gaan we deze top drie verder bespreken. Ethereum Ethereum is een van de grootste platformen voor Decentralized Finance (DeFi) en Non-Fungible Tokens (NFT’s), twee snelgroeiende sectoren in de cryptomarkt. Volgens ChatGPT staat Ethereum voor de volgende reden in de top 3. Technologisch gezien blijft het platform zich continue ontwikkelen en de overgang naar Ethereum 2.0 en Proof of Stake (PoS) maakt het netwerk veel efficiënter. Het platform weet tegelijkertijd energie te besparen en is dankzij de overgang veel schaalbaarder. Na Bitcoin blijft Ethereum een van de meest vertrouwde cryptocurrency’s en een stabiele keuze dat zeer geliefd is onder de investeerders in de cryptowereld. De koers van $ETH is sinds oktober 2024 met 28% gestegen en staat nu op een koers van $3250. Solana Hoewel Cardano en Tron bekend staan als alternatieven voor Ethereum, biedt Solana enkele unieke voordelen. Volgens ChatGPT zijn het net deze unieke voordelen die Solana een voorsprong in de top 3 geven op bijvoorbeeld Cardano, die ook een solide basis heeft. Al deze factoren maken van Solana een van de meest veelbelovende en vooruitstrevende blockchains. Met een koers die nu iets beneden de $187 staat, weet Solana het afgelopen jaar, met de nodige schommelingen, toch stabiel te blijven. Polkadot Als derde heeft ChatGPT de Polkadot in de top 3 staan die een niche aanbiedt die andere projecten niet hebben. Het wordt door ChatGPT benoemd als een brug tussen blockchains, vooral omdat het er bekend om staat dat het verschillende blockchains weet te verbinden. Hierdoor kan het platform op een unieke manier gegevens uitwisselen en weet het een oplossing te bieden waar fragmentatie een probleem is. De koers is sinds januari 2024 met meer dan 100% gestegen, waarmee het laat zien dat het door het jaar heen zich staande wist te houden op een volatiele markt. Alternatieve crypto opties voor een divers portfolio Naast de bovenstaande gevestigde cryptocurrency’s zijn er ook andere opties in de cryptowereld die voor de investeerder de moeite waard zijn om te bekijken. Gezien hun potentiële groei zijn meme coins, die zich in de presale fase bevinden, vaak een aantrekkelijke keuze om een crypto portfolio te diversifiëren. Dit is vaak een strategie zet dat veel rendementen kan opleveren. We hebben hieronder drie alternatieve opties op een rij gezet. Wall Street Pepe Wall Street Pepe (WEPE) heeft bijvoorbeeld een heel platform opgericht voor de kleine investeerders en positioneert zich als een community gedreven token. Het zorgt ervoor dat het een ‘Wepe Army’ creëert die profiteert van allerlei marktinzichten. Het is een ware hub waar gebruikers strategieën met elkaar kunnen delen en waarmee ze hun kansen kunnen significant kunnen vergroten, net zoals de grote whales op de cryptomarkt altijd doen. Op dit moment is de presale nog bezig en kunnen de $WEPE tokens voor een aantrekkelijker prijs worden aangeschaft. Nu naar Wall street wepe Solaxy Een tweede interessante keuze is Solaxy, een Layer-2 presale token die is gebouwd op het Solana netwerk. Dit project heeft ervoor gezorgd dat het de schaalbaarheid en snelheid van het Solana netwerk weet te verbeteren. Hierdoor wordt ook de kans op storingen en mislukte transacties verminderd. Als er vandaag wordt geïnvesteerd in de $SOLX tokens, krijgen investeerders niet alleen toegang tot een nieuwe blockchain, maar kunnen ze ook genieten van een APY van 359%. Nu naar Solaxy Best Wallet Als laatste is er nog een nieuwe cryptowallet op de markt die binnen een korte periode al heel wat populariteit heeft vergaard. Best Wallet is een nieuwe en innoverende crypto wallet die gefocust is op de gebruikersvriendelijkheid van de moderne crypto investeerder. Alle investeringen zijn op een overzichtelijke manier te zien en er wordt ook een overzicht van veelbelovende presales aangekondigd in de ‘Upcoming Token’ feature. Hiermee krijgen gebruikers van Best Wallet een voorsprong op de brede cryptomarkt. Op dit moment zijn de $BEST token voor een goedkope prijs beschikbaar via officieel website. Nu naar Best Wallet
Phala Network, a Polkadot parachain, has expanded its reach to the Ethereum blockchain by introducing a layer-2 rollup protocol designed to boost scalability and efficiency. According to a Jan. 8 statement: “Phala Network has taken a monumental step forward in blockchain innovation by launching the first-ever Op-Succinct Layer 2 (L2) rollup on Ethereum. This transformative […]
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Polkadot’s Treasury, a vital component of the blockchain network’s ecosystem, now holds approximately $210 million worth of assets, equivalent to 31 million DOT. On Dec. 31, Tommi Enenkel, Polkadot’s Head Ambassador, shared this update on social media platform X while highlighting the network’s financial standing as the year concludes. Polkadot Treasury Enenkel said 90% of […]
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In what has been one of the most bullish months of the year, asset manager and crypto exchange-traded fund (ETF) issuer VanEck released a report highlighting significant gains in the memecoin sector, alongside notable performances from major cryptocurrencies like Cardano (ADA), Solana (SOL), Polkadot (DOT), and Stellar (XLM). Solana’s Ecosystem Thrives According to VanEck’s analysis, Solana delivered a 42% return in November, with the SOL token hitting an all-time high of $262. This increase was largely driven by a surge in on-chain trading activity related to memecoins, which led the general market rally with a 95% increase during the month. This drove Solana’s revenues and decentralized exchange (DEX) volumes to unprecedented levels. In fact, Solana generated $177 million in revenue in November, doubling the previous month’s high of $74 million. Related Reading: BNB Surges 18% To Hit Record High Close To $800: Is Further Growth On The Horizon? This rush of activity also benefited projects such as Jito and Pump.fun, which generated revenues of $185 million and over $92 million, respectively. Jito operates as an on-chain application that generates revenue through maximal extracted value (MEV), which is derived from arbitrage opportunities created during DEX trading. Meanwhile, Pump.fun captures revenue directly from memecoin trading, showcasing the dual benefits of Solana’s vibrant ecosystem. Solana’s success was further underscored by its wallet, Phantom, claiming the top spot in Apple’s “free utility apps” category, and Robinhood reinstating SOL trading on its platform. In addition, the popular non-fungible token (NFT) marketplace Magic Eden announced an upcoming token airdrop, which is expected to stimulate further on-chain trading. Cardano And Polkadot Lead Crypto Altcoin Rallies Cardano’s ADA was another standout performer in November, achieving an impressive 201% increase. This rally was spurred by off-chain developments and speculation surrounding the influence of Cardano’s founder, Charles Hoskinson, in shaping future crypto policy. Following Hoskinson’s announcement of establishing a crypto policy office in Washington, D.C., ADA experienced a significant price surge. The upward momentum continued with Robinhood’s relisting of ADA and an update to Cardano’s governance structure, which emphasized on-chain decision-making by ADA holders. On-chain usage metrics reflected Cardano’s price movement, with total value locked (TVL) surging by 180% as various Cardano project tokens rallied. However, despite these gains, Cardano’s absolute figures in stablecoins and daily DEX volumes remain modest compared to Ethereum (ETH), highlighting a potential area for growth. Related Reading: XRP Under The Microscope: Will It Break $2.9? Key Support Levels And Future Targets Polkadot, often viewed as an underperformer in the crypto space, also saw a surprising rally in November. While its ecosystem has struggled with slow onboarding and technical challenges, recent developments, particularly from the Mythos Chain—a gaming blockchain hosting popular titles like NFL Rivals—have invigorated interest. Polkadot’s founder, Gavin Wood, also unveiled plans for a more agile architecture, allowing for enhanced interoperability and cloud-like services, which could position Polkadot favorably against other crypto assets like Ethereum and Celestia. In the decentralized finance (DeFi) sector, major protocols such as Aave, Uniswap, and Sky (formerly MakerDAO) demonstrated strength, with significant fee increases and market activity. Aave crossed a milestone of $30 billion in deposits, positioning it among the largest banks by deposits if it were a traditional institution. Meanwhile, Uniswap’s market position was bolstered by a favorable court ruling regarding the legality of immutable smart contracts, which spurred a substantial increase in its market capitalization. At the time of writing, SOL trades at $236, up nearly 3% in the past 24 hours Featured image from DALL-E, chart from TradingView.com
Amidst the recent euphoria around the cryptocurrency market, Polkadot (DOT) has stood out as one of the best-performing assets, notching a 107.5% price gain in the last 30 days. The prominent crypto asset recently surged to $8.81, representing its highest price point in the past five months. However, as the Polkadot market remains ravaged with positive sentiments driven by price action and recent network reports, crypto market expert with X username Rekt Capital has shared a valuable cautionary insight. Related Reading: Polkadot Holds Key Demand Level – DOT Could Hit $11 In Coming Weeks Polkadot Must Stay Above $8.60 — Analyst In a recent post on X, Rekt Capital highlighted a crucial support level needed for DOT to maintain its current upward trajectory. The analyst explains that following its recent 35% rally in the past seven days, Polkadot has now recorded a weekly close above $8.60, a previous resistance level now turned support. Rekt Capital predicts the altcoin is likely to retest to this price level in a move that previously spurred a bullish run to the token’s current all-time high of $55.00 in 2021. However, the crypto pundit notes that Polkadot has also experienced a failed retest at this support zone in April 2024 sliding to $5.8 i.e. a potential 32% decline from the asset’s current market price. Therefore, DOT bulls need to ensure a successful retest of $8.6 to ensure the coin maintains its current upward momentum. Importantly, a monthly close above this support level indicates the potential for significant price gains in the coming weeks. If this successful retest occurs, Polkadot is expected to rise to $12.61, suggesting a possible 46.11% increase in the asset’s price. Interestingly, Rekt Capital’s DOT prediction is similar to that of fellow analyst Ali Martinez who had forecasted the coin to reach $11 following a breakout to $6 one week ago. Related Reading: Polkadot Holds Key Demand Level – DOT Could Hit $11 In Coming Weeks DOT Price Overview According to data from CoinMarketCap, Polkadot continues to trade at $8.68 following a 2.12% gain in the past. In tandem, the altcoin’s daily trading volume has surged by 21.78% and is now valued at $795.37 million. Data from Coincodex shows that general market sentiment on the altcoin remains highly bullish as indicated by multiple factors including a Fear & Greed Index of 78 that represents extreme greed. Furthermore, stablecoins adoption on Polkadot continues to grow as the total valuation of USDT and USDC on the blockchain network recently reached $120 million. This development indicates increased liquidity and trading activity that could spur demand and price increases for DOT. Considering these factors combined with a booting altseason and high market enthusiasm towards the incoming Donald Trump administration, Polkadot is tipped largely to retain its upward trajectory. However, these projections are not guaranteed and are subjective to all market conditions. Featured image from Binance Academy, chart from Tradingview
Market intelligence firm Messari recently released its third quarter (Q3) performance report for Polkadot (DOT), providing insights into the blockchain network’s development and financial metrics during this period. Polkadot Sees Strong Developer Engagement One of the notable findings from the report is the developer activity on Polkadot. According to Electric Capital, the network had approximately 2,400 monthly active developers in July 2024, with 760 classified as full-time contributors. This positioned Polkadot fourth among leading blockchain networks, trailing only Ethereum, Base, and Polygon. Furthermore, Artemis tracked an average of 630 weekly active core developers and 760 ecosystem developers during Q3, underscoring a vibrant development community. Related Reading: Bitcoin Price Alert: Expert Warns Of Upcoming 25% Drop, Timing And Trends Explained Polkadot also made significant strides in Q3 2024 with several key initiatives aimed at enhancing its ecosystem. The Decentralized Futures program, backed by a substantial $20 million fund and 5 million DOT tokens, has been pivotal in driving innovation. This initiative provided grants to various projects focusing on marketing, business development, governance, and technology. Notable projects supported include AirLyft, DotPlay, and BlockDeep Labs. Another critical development is the Cross-Consensus Message Format (XCM), a standardized messaging protocol that facilitates communication between different consensus-driven systems, including rollups. Daily XCM transfers averaged around 1,000, representing a 34% decline quarter-over-quarter (QoQ). In contrast, non-asset transfer use cases, referred to as “XCM Other,” experienced a 5% increase, averaging 200 daily transfers. Overall, total daily XCM messages averaged 1,300, reflecting a 29% drop QoQ. Despite these fluctuations, a significant portion of activity on the Polkadot network continues to occur through Polkadot rollups. DOT Market Cap Plummets 27% In Q3 In terms of market performance, DOT has experienced notable volatility through the year. From Q3 2023 to Q1 2024, DOT’s market capitalization soared by 150%, rising from $5 billion to $13 billion. However, in the subsequent quarters, including Q2 and Q3 2024, DOT retraced alongside the broader market, ending Q3 2024 with a market cap of $6.3 billion—a 27% decline QoQ. This drop also saw DOT’s market cap ranking fall from 14th to 15th, even as it remains the seventh largest base layer network. Transaction fees on the Polkadot chain have generally remained lower compared to competitors, attributed to the network’s structural design. In Q3 2024, transaction fees aligned with historical averages, totaling $84,000—a 44% decrease QoQ. Fees denominated in DOT also declined by 21% to 17,000. Related Reading: Institutions Just ‘Waiting To Buy Up’ Bitcoin, Says MARA CEO The Polkadot Treasury on the other hand, saw continued active usage, with 9.5 million DOT allocated for proposals, 7.4 million for bounties, and 2.5 million burned. A significant development was the approval of Polkadot Referendum 457 in Q2 2024, which diversified the treasury with USDT and USDC, enabling treasury proposals to be denominated in stablecoins. By the end of Q3 2024, the treasury balance stood at $122 million. Daily active addresses dropped to 6,200 (-26% QoQ), daily returning addresses decreased to 5,300 (-23% QoQ), and daily new addresses fell to 900 (-38% QoQ). In terms of immediate price action, the DOT price has traded at the $8 level for the past four days, and has since consolidated above it. The token has been one of the best performers since Donald Trump’s election on November 5, posting a substantial 96% gain in the monthly time frame. Featured image from DALL-E, chart from TradingView.com
Dogecoin, XRP, Stellar and Sandbox saw a larger liquidation share than usual as some top altcoins from the 2020-2021 cycle soared as high as 50%.
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 temporary resistance near the $6 level. Related Reading: Last Chance To Buy Ethereum? Analyst Expects $6,000 Once It Breaks 8-Month Accumulation Top crypto analyst Ali Martinez has shared a technical analysis highlighting Polkadot’s resilience. According to Martinez, DOT is holding the firm above a critical demand zone, a sign that the asset could prepare for a significant breakout. His insights point to growing interest and optimism around Polkadot, fueled by its potential for another bullish leg. As one of the leading blockchain ecosystems with robust interoperability solutions, Polkadot continues to capture attention in a market increasingly favoring quality projects. The next few days will determine whether DOT can capitalize on its recent momentum to push past key resistance levels. All eyes remain on Polkadot’s price action as it tests investor confidence and market strength. If the anticipated surge materializes, DOT could soon reclaim higher ground, further solidifying its position in the crypto space. Polkadot Preparing For A Breakout Polkadot appears to be on the verge of a breakout as it maintains bullish momentum despite a recent pullback from the $6 resistance level. After a nearly 10% retrace, DOT has found stability above the critical $5.7 demand zone, signaling buyers are still firmly in control. This resilience has sparked optimism among investors and analysts, who view the current price action as a setup for a significant rally. Top crypto analyst Ali Martinez recently shared his insights on X, pointing to Polkadot’s weekly price chart as evidence of its potential. According to Martinez, DOT has shown remarkable strength by holding above the $3.6 support level, which has served as a foundation for its recent recovery. He suggests that if the current momentum continues, DOT could climb to $11 in the coming weeks, representing a substantial gain from current levels. Martinez also emphasized that reaching and consolidating above the $11 mark could set the stage for an even bigger rally. He predicts that such a move would open the door for a surge to $22, aligning with broader bullish expectations for the altcoin market. Related Reading: Bitcoin Demand Outweighs Supply As LTH Enter Active Distribution Phase With Polkadot’s fundamentals and technical setup aligning, all eyes are on its ability to overcome key resistance levels. If these predictions materialize, DOT could reestablish itself as a leading player in the crypto market. DOT Price Action: Technical Details Polkadot is trading at $5.6, maintaining its position above the critical 200-day Moving Average (MA) at $5.3. Breaking above this key indicator is a strong bullish signal, suggesting that DOT shows long-term strength as buyers gain control. The price is also holding firmly above the $5.6 demand level, which served as crucial support during June and July but was lost until its recent recovery. This regained demand level at $5.6 has reignited optimism among investors, as sustaining this zone could provide the foundation for further bullish momentum. If DOT manages to hold steady above this level in the coming days, a move toward new supply zones is likely, with the next target at approximately $6.5. Related Reading: Ethereum Consolidation Continues – Charts Signal Potential Breakout The combination of breaking the 200-day MA and reclaiming a significant demand level demonstrates that DOT has the potential to maintain its current upward trajectory. However, sustained buying pressure will be necessary to overcome resistance and push toward higher targets. For now, all eyes remain on DOT’s ability to consolidate above $5.6, which will be a key indicator of whether it can continue climbing in the coming weeks. Featured image from Dall-E, chart from TradingView
AI studio SOAR, created by Ancestry founder Paul Allen, brings Project Liberty data sharing and storage portals for families and communities focused on local government.
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 — Here’s 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 altcoin’s 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 altcoin’s 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 altcoin’s 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
Polkadot is among the top blockchains, securing a spot in the top 20. Even though the platform promotes blockchain interoperability, a feature needed in the age of increasing fragmentation, DOT prices have failed to inspire bulls. This state of affairs on price charts reflects the general trend across the board, especially in leading smart contract platforms like Ethereum and Solana. Polkadot Treasury Reserves Down To All-Time Lows Unyielding bears have been forcing prices lower over the months since DOT rose to around $10 in Q1 2024, depleting the Polkadot Treasury Reserves. Related Reading: Bitcoin Price To New ATH Soon? Analyst Who Called $72,000 Surge Reveals What Needs To Happen In early November, one observer on X said they stood at all-time lows. However, it could get worse for Polkadot should the bears of Q3 2024 flow back, forcing prices below local support levels. The daily chart shows that DOT has critical support at around $3.8. This level marks September and October lows. On the other hand, the coin is facing strong liquidation pressure at $4.6 and $5. As the coin ranges, the direction of the breakout could shape the short—to medium-term trend but also impact the Polkadot Treasury. A lot depends on whether DOT prices will recover, which will, in turn, help the Polkadot Treasury reserves recover. Technically, prices play a big role. When bulls take over, the reserve, denominated in DOT, increases in USD terms, easing pressure on the team. Policy Intervention To Boost Funds To further increase inflows into the Treasury Reserves, the Polkadot community passed a policy to reduce inflation. Specifically, the community voted to drop DOT annual inflation from 10% to 8%. With low inflation and sustained on-chain demand, DOT prices may find support. Additionally, 15% of staking rewards distributed from stakers will be moved to the Treasury. Related Reading: Bitcoin Open Interest Reduced By $2.1 Billion In 24 Hours – Time For Spot To Push The Price? The analyst predicts these changes could boost the Treasury by adding 1.5 million DOT. This will be the much-needed infusion of funds that may increase the Treasury Reserves after months of low income. The team could build better and even strike quality partnerships, improving the blockchain’s ecosystem. Based on H1 2024 data, the team spent most on outreach, while nearly 27% went to development. The rest was split between funding research, operations, talent, and the economy. Given the valuation in the year’s first half, they spent $87 million, or around 11 million DOT, in total. Feature image from UnSplash, chart from TradingView
Cointelegraph Research explores how Polkadot’s innovative architecture and Polkadot 2.0 upgrade improve scalability, interoperability and decentralized governance in the blockchain ecosystem.
Polkadot, an interoperable blockchain, continues to build. Less than a month after launching Agile Coretime, the first core was bought for 69 DOT over the weekend. This purchase is a significant milestone for the modern blockchain that’s been pushing to attract more users and developers on its rail by making block space accessibility easier and more flexible. Polkadot Coretime Purchased For 69 DOT According to on-chain data from the Coretime Hub, one core was bought for 69 DOT out of the five available for sale. The purchased amount was burned, a move that helps reduce inflation in the long term. Related Reading: Here’s Why The Bitcoin Price Could Hit $100,000 Before The End Of The Year Agile Coretime, which went live in September, is a massive boost for Polkadot. Under this framework, Polkadot seeks to allocate network resources more efficiently while offering greater accessibility and flexibility for new startups and developers planning to build. A core aspect of this framework is introducing a market-driven approach to block space data. In this model, it becomes easier for projects to purchase core, on-demand, or bulk, depending on their needs. Accordingly, projects can prudently use their resources, and the resulting flexibility is empowering. Polkadot developers also said Agile Coretime will enable developers to optimize for network performance. Beyond these advantages, since coretime can be traded as NFTs, it can create fresh avenues for monetization for smart traders. Reducing Inflation, Will Prices Recover? Even with this purchase, whether DOT’s inflation will rapidly fall in the coming months remains to be seen. Currently, the network’s inflation is at around 10%. However, the community has already voted and approved Referendum 1139, which seeks to reduce inflation from 10% to 8%. Related Reading: Crypto Analyst: Why Memecoins Are Still The Next 100x Opportunity Over time, developers will aim to further reduce inflation, even below 5%, depending on network growth, and a big part of Coretime purchases. The more users buy Coretime, the more DOT will be burnt and removed, reducing inflation. For now, even after the purchase of the first core DOT, it remains under immense selling pressure, mirroring the general performance across the board. Although DOT is still in the top 20, the coin is down nearly 70% from March highs. Any dump below $3.8 could accelerate the sell-off, pushing DOT to fresh 2024 lows. Feature image from UnSplash, chart from TradingView
Polkadot (DOT) needs help at spot rates. When writing, DOT is still trading below $4.5 despite the broader recovery. Bitcoin and Ethereum, for example, are trading above local resistances now support, at around $60,000 and $2,400, respectively. DOT Struggling, Bulls Capped Below $4.5 A look at the DOT price action in the daily chart reveals that the coin is trending inside the September 14 to 18 bear range. Even though there were gains on September 18, which has since acted as the base for the current swing high, bulls are not capitalizing on the momentum. Related Reading: SUI Eyes Potential Pullback As RSI Flashes Warning: $1.4 Retest In Sight The immediate liquidation level, marking September 15 highs, is $4.5. If broken, it could trigger a wave of demand that may be the building blocks for more gains, extending the current 18% rally from September lows. Interestingly, DOT bulls are slow to tap into the improving crypto sentiment and break this resistance level. This underwhelming performance also comes even after the introduction of Agile Coretime. According to Polkadot developers, this feature is a crucial component of the next network phase, Polkadot 2.0. Agile Coretime Out As Developers Prepares For Polkadot 2.0 The Agile Coretime rollout, released last week, introduces multiple features that will benefit developers and protocols launched on the platform. Top of the list, developers said Agile Coretime introduces even more flexibility. This is because the feature permits projects to access network resources as needed. They won’t have to be locked into a fixed slot like before. Additionally, Agile Coretime seeks to push scalability higher. To do this, the feature enables adaptable core allocation. Subsequently, higher network efficiency allows the platform to support even more diverse applications. Agile Coretime sets the ball rolling for the eventual activation of Polkadot 2.0. This upgrade sets the stage for overhauling the current resource allocation model, making it more market-driven. Related Reading: Fed Rate Cuts Spurs $1.6 Billion Bitcoin Buying Spree Among Whales, Can BTC Reach $70,000? Moreover, developers will be looking to introduce Asynchronous Backing, which seeks to separate the Relay Chain, which is core to Polkadot and Parachains. The idea is to improve efficiency and drive scalability. Though developers are lining up major developments, DOT is lagging and trending near 2024 lows. DOT’s performance will largely depend on the general market sentiment and Bitcoin or Ethereum’s performance. DOT will likely benefit if these coins break their respective all-time highs in the coming weeks. Feature image from iStock, chart from TradingView
Centrifuge, a real-world asset (RWA) solution and a Parachain, has a plan for Polkadot, a smart contracts platform. In a proposal, the RWA platform suggests that the newly created Polkadot Community Foundation allocates $3 million USDC to their T-Bill pool. This pool is held within the Anemoy Liquid Treasury Fund and aims to serve multiple objectives. Centrifuge Wants Polkadot To Invest $3 Million In T-Bills In their proposal, allocating the $3 million to T-Bill as an investment will benefit the broader ecosystem. Of note, it will help boost the long-term sustainability of the Polkadot Treasury. This is because the T-Bill pool will generate stable yields from real-world assets, thereby further increasing the financial health of the Treasury. Related Reading: Cardano Foundation Reports Massive Growth In These Key Metrics – ADA Price Soars 3% Though the funds will be from the foundation, Centrifuge argues that injecting the $3 million USDC into the T-Bill pool will help increase the network’s total value locked (TVL). Subsequently, this will also expand the Treasury’s assets. The foundation might consider investing in RWAs, as proposed by Centrifuge, as it could foster the growth of this technology within Polkadot, pushing adoption and growth as a result. Laying out their proposal, Centrifuge said if the foundation decides to invest, it would align with their previous investment in the Anemoy Liquid Treasury Fund. In turn, this may offer a unique opportunity for Polkadot to diversify and expand its investment basket. It is especially now that tokenization and RWA is picking up momentum. RWA Picking Up Steam, Will DOT Reverse Losses? BlackRock, one of the top asset managers in the world, is one of the leaders in tokenizing treasury bills. On Ethereum, the manager has launched BUIDL, a platform where institutions can invest in tokenized Treasury bills. As of September 10, BUIDL is the largest tokenized Treasuries provider, managing over $514 million, according to RWA.xyz. The proposal is so far garnering community support. Roughly a week before the decision, over 53% agreed with this proposal. However, some community members are expressing concerns. Related Reading: Ethereum Sees Massive Outflows from Derivatives: What Does This Mean For ETH? Most of them point to the potential risks and the negative implications of this on the network’s Treasury. One concern is that if this is approved, it could increase DOT spending requests, eventually depleting its reserves. While the prospect of RWA taking off in Polkadot is bullish, DOT is still under pressure. From the daily chart, DOT is down roughly 65% from March highs. It is also in a descending channel and retesting multi-month support. The primary support lies at around $3.5. On the upper end, resistance is at $5. A break above this line will lift sentiment, propelling the coin towards $6.5 in a buy trend continuation formation. Feature image from Unsplash, chart from TradingView
Polkadot (DOT) has been gaining significant bullish momentum, with its price steadily approaching the critical resistance level of $4.8. This upward movement suggests a strong presence of positive sentiment in the market. As DOT nears this key resistance, speculations are about whether the bulls can maintain their dominance and drive the price higher. A successful breakout above $4.8 could signal the beginning of a new bullish phase, potentially leading to further gains. However, failure to break this level might result in a pullback. This article analyzes DOT’s recent price action and its approach to the critical $4.8 resistance level. With the help of technical indicators, it will evaluate the significance of this resistance, assess market sentiment, and predict potential future movements, including the likelihood of a breakout. DOT was trading at around $4.73 and has increased by over 3.58% with a market capitalization of over $6.9 billion and a trading volume of over $200 Million as of the time of writing. In the last 24 hours, the asset’s market cap has increased by more than 3.61%, while its trading volume has increased by more than 7.46% Market Sentiment: Are Bulls In Control? Currently, the price of DOT on the 4-hour chart has been on a bullish move following a rejection at the $3.5 support mark. It is now advancing toward the $4.8 resistance mark and the 100-day Simple Moving Average (SMA). Since breaching this key resistance level, the digital asset has shown a consistent upward trend, indicating that the bulls are gaining control and could drive the price even higher. Additionally, an analysis of the 4-hour Relative Strength Index (RSI) shows that the signal line of the indicator has successfully risen above 50% and is currently heading to 60%, suggesting that buying pressure is increasing and the asset might experience further upward movement. On the 1-day chart, although DOT is still trading below the 100-day SMA, it has successfully printed three bullish momentum candlesticks approaching the $4.8 resistance level. This indicates that the bulls remain in control, which could help trigger a rally for DOT. Finally, on the 1-day chart, the RSI signal line is ascending from the oversold zone toward 50%, further supporting the potential for a continued rally and indicating that the bulls are gaining control over the bears. Conclusion: Will DOT Break Through Or Face Rejection? In conclusion, as DOT’s price approaches the $4.8 resistance level, it could either break through or encounter a rejection. A breakthrough above the $4.8 resistance level, DOT might continue its bullish move to challenge the $6.2 resistance level. Once it breaks below this range, the digital asset may move further to test the $7.7 level and probably other key levels afterwards. Meanwhile, if DOT encounters rejection at the $4.8 resistance level, it may start to decline toward the $3.5 support level. Should the price fall below this support, it could drop more to test the $1.9 support point, potentially creating a new low if this level is breached. Featured image from Adobe Stock, chart from Tradingview.com
As the rebound in some sectors of the crypto market slows, Polkadot (DOT) has captured some momentum garnering the attention of some investors that grabbed it at a discount. According to CoinGecko, the token is up almost 6% today, with the rebound slowing to a mere 2% increase since yesterday. However, this has not deterred investors from keeping their eyes on DOT as it slowly makes its way upward. Related Reading: Bloody Monday: Cardano Not Spared From Bloodbath, Suffers 30% Loss This is partly due to Polkadot’s continuing on-chain developments that helped ease market anxieties after the broader sell-off that happened this week. We might see more positive movement in the coming days investors and traders are convinced that the sell-off is a one-of-event. Tuning In To On-Chain News For Polkadot On-chain, the Polkadot’s parachains are actively contributing to the network’s overall growth. Polkadotters, an X account dedicated to sharing Polkadot developments, shared several developments this week. Bifrost’s July report is among the developments that show incredible growth for the protocol. The monthly report shows that Bifrost grew by a substantial margin. By the end of July, Bifrost had a total of $80.8 million in total value locked (TVL) and over 8 million voucher DOT (vDOT) minted. vDOT is the protocol’s representation of DOT staked on the platform and according to this high number, DOT is an active token used in staking on Bifrost. Peaq, a parachain focused on decentralized physical infrastructure networks (DePIN), secured a partnership with Roam, a fellow DePIN-focused platform. The partnership covers Roam’s launch of its network and native token on the Peaq ecosystem, contributing to Polkadot’s growth through increasing activity on Peaq and its network. DOT Tries To Breach $4.61 DOT is currently attempting to break through the $4.61 ceiling, resuming yesterday’s action by trying to flip the ceiling to a solid support level. However, this maybe thwarted by the bears as the market currently favors the downward pressure felt by investors and traders in the short term. Despite this, positive developments can alleviate the shaken confidence brought by the market’s sharp decline this week. The only question remaining will be how big the gains can be if the rebound continues. If DOT bulls are successful in this breakthrough, the token will have the necessary foundation for future upward movement. Bulls can emulate DOT’s movement in late 2020 where they settled on $4.61 before the market’s bull run. However, market volatility will still be a huge problem for DOT’s performance. Related Reading: Aave Protocol Unfazed By Market Jitters, Surges 21% If the major cryptocurrencies continue their rebound to pre-overreaction levels, then there might be a chance for DOT to reclaim $6.16 in the long term. Until then, investors and traders should remain cautious of the token’s position and momentum as it can be susceptible to a swing downward. Featured image from MoneyWeb, chart from TradingView
Crypto analyst Ben Armstrong, popularly known as ‘Bitboy Crypto’ has ignited controversy by declaring Cardano (ADA)and Polkadot (DOT), “dead to institutions.” His brash statement has drawn substantial backlash from the crypto community, with many members vehemently opposing his criticizing remarks. Analyst Calls Cardano, Polkadot Dead In an X (formerly Twitter) post on July 3, Armstrong […]
Polkadot’s ecosystem remains robust despite recent market downturns that briefly pushed DOT’s value to a seven-month low. Polkadot ecosystem thriving Data from DotLake shows a 33% month-on-month increase in transactions within Polkadot’s ecosystem, rising to 16 million in June from 12 million in May. The growth was primarily driven by One Frequency, a Layer 1 […]
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The crypto world is no stranger to drama, but Polkadot, the ambitious blockchain protocol aiming to reshape Web3, managed to stir the pot in an unexpected way recently. This time, it wasn’t a groundbreaking technological feat, but a social media post that sent shockwaves through the industry – a potential rebrand to “KOLKADOT.” Related Reading: […]
Crypto twitterati showed no mercy as Polkadot published a transparency report detailing spending on $87 million of DOT tokens – a lot of it on marketing. PLUS blockchain tech news and project highlights from the past week.
Stakeholders within Polkadot’s ecosystem have refuted claims that the network’s Treasury will run dry within two years. Recently, a treasury report raised community concerns by suggesting that the project’s current spending would only sustain operations for two years. However, several stakeholders have dismissed these claims, explaining that Polkadot’s Treasury is continually replenished by the network’s […]
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The blockchain’s revenue declined over the first half of 2024, and its head ambassador has called for its token’s inflation rate to be lowered.
The recent report released by the Polkadot Treasury for the first half of 2024 has raised concerns over an impending funding crisis. The report indicates that the Treasury’s assets, spread across multiple chains, have become increasingly complex and challenging to manage effectively. Decentralized finance (DeFi) researcher DeFi Ignas has analyzed the report, highlighting the Treasury’s limited runway of approximately two years at the current burn rate of $87 million every six months. Funding Concerns Mount For Polkadot Polkadot’s expenditure during the first half of 2024 paints a worrying picture. An extensive outreach program accounted for $37 million, aiming to attract new users, developers, and businesses. Additional expenses included $10 million on ads/sponsorships, $4.4 million on influencers, and $4 million on digital ads. Surprisingly, despite such expenditures, Polkadot’s visibility on social media platforms, including “Platform X,” remained notably low. Related Reading: Bitcoin Weekend Trading Takes A Siesta: Volumes Plunge To Record Lows The Treasury spent a total of $86 million in the past six months, managing $245 million (38 million DOT) in assets, with $188 million (29 million DOT) in liquid form. The burn rate indicates that the Treasury may face bankruptcy in less than two years. Polkadot’s token supply experiences a 10% annual growth, primarily fueling staking rewards. With a $10 billion market cap, stakers receive $1 billion per year, which significantly affects network security costs. However, a proposal to reduce inflation was rejected by 57% of the stakeholders, further compounding the Treasury’s financial challenges. New Governance Model The report reveals that direct fee revenue remains marginal for Polkadot. In 2023-H2, Polkadot generated 300,000 DOT through fees during a short-lived inscription campaign. Under regular conditions, fee revenue stabilizes at around 20,000 DOT per quarter. On the expense side, the report highlights a 2.4x increase in DOT spending compared to 2023-H2. Ambitious proposals and larger ask sizes contributed to this significant spending surge. Although the average DOT price rose, resulting in more value per DOT, concerns about the Treasury’s usage are mounting within the ecosystem. Related Reading: Dogecoin Could Eclipse $1 Mark This Bull Run, Predicts Analyst To address these challenges, Polkadot is moving towards a more structured approach. Executive bodies, such as bounties and collectives, are emerging to assume departmental roles within the ecosystem. These bodies are responsible for security, data research, core functionality development, network operation, marketing, and business development activities. The key question now is how to establish effective structures quickly to guide Polkadot toward success. The solution, according to the blockchain’s treasury, is to delegate more responsibility to these executive bodies. These bodies are made up of competent individuals who evaluate new proposals and deliver value. Collectives, similar to subDAOs, have OpenGov capabilities and sub-treasuries to facilitate their work. By leveraging these executive bodies, Polkadot can outsource operational issues and mundane tasks, allowing OpenGov stakeholders to focus on making critical decisions. The effectiveness and performance of the executive bodies are evaluated, and budget allocations are negotiated with OpenGov based on the results. At the time of writing, DOT is trading at $6.35, representing a price recovery of nearly 4% in the 24-hour time frame. However, the 17th largest cryptocurrency by market cap is still down 10% over the past month. Featured image from DALL-E, chart from TradingView.com
SnowBridge, a trustless cross-chain bridge designed to link Polkadot with Ethereum, is seeking approximately $6 million in DOT tokens funding from the Polkadot community. The firm’s proposal stated that the funds are intended to ensure Snowbridge’s long-term success, align the team’s incentives with the Polkadot community, and provide financial guarantees for the bridge’s users. Treasury […]
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Polkadot community members are debating the feasibility of a bridge that would link the network to Cardano. Felix, an agent from the Unifires ecosystem, shared on the Polkadot Forum that efforts are underway to develop a Cardano-Polkadot light client and NFT swap bridge. He mentioned that the proposal has already been submitted to Cardano, and […]
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Polkadot's new RFC-0092 proposal aims to reduce the unstaking period from 28 days to just two days, enhancing user experience and maintaining network security.
The Web3 educational platform also announced a Polkadot education initiative to help onboard new developers to the blockchain network.
Polkadot co-founder Rob Habermeier has proposed Plaza, a new system chain designed to unify parachain functionalities and enhance network scalability. According to Habermeier, the current distribution of functionalities across multiple chains creates challenges for users and developers, leading to fragmentation and scalability limitations. He is advocating for a strategic focus on usability by building a […]
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