Polkadot skyrockets nearly 30% to $10 billion market cap: What’s behind the r...
The price of DOT, the native cryptocurrency of Polkadot, surged 24% on the day to achieve a $10 billion valuation. Polkadot (DOT), the second-largest smart contract protocol in the cryptocurrency market by valuation behind Ethereum, is up nearly 30% in the last 24 hours. Polkadot's market capitalization has also surpassed $10 billion, solidifying its position as the fifth-biggest crypto asset.There are several major reasons behind DOT’s strong uptrend: strong technical market structure, anticipation of scalable blockchain networks, and the craze around DeFi.DOT/USDT daily price candle....
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DOT is on fire today as it surges up the market cap charts to fourth spot. There have been some big movers as the crypto market rally resumes and Polkadot’s DOT token is among them.According to figures from leading analytics portal Coingecko, DOT has flipped Ripple’s XRP in terms of market capitalization following a massive gain of 26% over the past 24 hours. This makes it the new fourth largest cryptocurrency by market cap.The Polkadot token has surged from an intraday low of just below $11 to top out at an all-time high of $14.80 before retreating slightly to $14.45 at the time of....
While Cardano and Polkadot are extending their staking dominance, Tezos has plummeted from the top ten by staked capitalization. The stakes have been upped for Cardano and Polkadot, with the two networks continuing to dominate the staked capitalization rankings.According to data from StakingRewards, Cardano is currently the top blockchain in terms of staked value, with roughly $26.4 billion worth of ADA allocated to securing the network. With Cardano’s entire capitalization tagging $36.6 billion, 73% of circulating ADA are being staked.StakingRewards estimates Cardano stakers are earning....
Polkadot’s native cryptocurrency DOT was among the biggest gainers in the last 24 hours even as other top altcoin projects reported losses. The DOT/USD exchange rate rose about 9 percent, hitting $4.93 as its intraday high during the European trading session Tuesday. The rally emerged out of nowhere, with no concrete fundamentals backing it as […]
The upcoming Polkadot DeFi hub raised nearly $1.3 billion from approximately 25,000 contributors in its token ICO. On Thursday morning, Acala, a decentralized finance (DeFi) protocol operating on the Polkadot (DOT) network, announced it had won the first-ever Polkadot parachain auction. Acala raised a total of 32.5 million DOT, worth roughly $1.28 billion, from 24,934 contributors via an initial coin offering (ICO) structured as a crowdloan. As the proceeds are classified as 'crypto debt,' Acala would eventually need to pay back the DOT it had solicited from investors. Users' DOT are....
Polkadot price had touched the $8 price level before the bulls lost steam and fell on the one-day chart. DOT travelled 3.6% lower in the last 24 hours on its chart. Over the past week, DOT had gained some value, but most of that was nullified at press time. The Polkadot price was making a recovery over the last two days as it had declined before that. Buyers had stepped in during the recovery period. At the time of writing, however, buyers had exited the market again. The technical outlook for the coin was bearish, with sellers taking over the market. The support zone for Polkadot price....