As a seasoned crypto investor who has witnessed the rollercoaster ride of the digital asset market, I must say the recent surge in Polkadot ($DOT) is nothing short of exhilarating. After enduring a grueling bearish phase that saw $DOT plummet to its multi-year low, this 10% gain and approaching the $5 mark feels like a breath of fresh air.
After steady gains during the week, Polkadot ($DOT) is up over 10% and trading near the $5 mark.
Over the past week, Polkadot’s price ($DOT) experienced a remarkable surge following a prolonged slump that took its value to a record low over the past few years.
$DOT Gains 10%
Over the past few weeks, Polkadot ($DOT) has experienced a surge in growth after going through a period of distress and instability that pushed its price down to a multi-year low of $3.61. However, despite a bearish trend over the past couple of months, $DOT has maintained an upward momentum and is now approaching $5. The demand for lower priced $DOT has been driving its growth, with it closing the previous week at $4.39. Buyers are currently trying to push the price above $4.50.
Buyers could control the session on Monday, registering a 2.05% increase, settling at $4.48. $DOT successfully reclaimed the $4.50 price level on Tuesday, registering a 0.89% increase, closing the session at $4.52.
On Wednesday, DOT surpassed its 20-day moving average, rising by 3.32%. A small uptick on Thursday brought the price up to $4.69. On Friday, DOT ended the day at $4.89. On Saturday, DOT momentarily climbed above the $5 mark before ending the session at $4.98.
The current session sees $DOT down 2.71%, currently trading at $4.87.
Over the past week, $DOT has gained around 10%.
Polkadot July Recap
In July, Polkadot, despite struggling with price increases, made significant strides with multiple key updates and advancements. These developments have reinforced Polkadot’s reputation as one of the most prominent Decentralized Autonomous Organizations (DAOs). The number of OpenGov Referenda reached an all-time high this year, showcasing its significance. Additionally, there was a substantial amount of activity on GigHub, bringing the total number of repositories within the Polkadot ecosystem to 29,917.
In July, the forum activity on the network saw a substantial increase, coinciding with Polkadot unveiling two fresh APIs as part of its major advancements.
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2024-08-25 22:37