Spot Market Star Polkadot (DOT) Shows a Positive Sign For Traders

The market is still bullish on the cryptocurrency, and traders are expecting a breakout in the coming months.

Spot Market Star Polkadot (DOT) Shows a Positive Sign For Traders. The cryptocurrency has been on the rise since its launch and is now one of the most popular projects in the market.

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News about altcoins

  • Polkadot drew a lot of attention on the spot market (DOT).
  • DOT is currently ranked 9th on CoinMarketCap.
  • The circulating market cap has continued to rise, which seems to be a positive indication.

Polkadot drew a lot of attention in the spot market, where financial products are traded for rapid delivery (DOT). Polkadot seems to be the current market darling. With a weekly ROI of +30.90 percent and price gains of approximately 25.32 percent, Polkadot (DOT) is one of the cryptocurrencies to benefit from. Dot has just lost 7% of its value. Whether or not this decline continues, or if it does not, it will begin to increase.

Furthermore, according to a recent Kraken analysis, DOT was the exchange’s fourth-best performing mid-asset last week. Its trading volume has increased by 6.2 percent over the previous week. This indicates that the altcoin’s spot trading interest is growing.

At the time of writing, the current price of DOT is $17.54, with a 24-hour trading volume of $1,411,274,086 on CoinMarketCap. The circulating quantity of Polkadot (DOT) coins is 980,481,964.06. DOT is currently ranked 9th on CoinMarketCap.

Despite the fact that spot market star Polkadot saw a drop after August 1, the circulating market value continued to rise, which seems to be a positive indication for the alt.

Regardless of adjustments, the four-hour chart for Polkadot (DOT) revealed that trading volumes are relatively higher. The $20 level is crucial for the cryptocurrency since it seems to be long-term support for the most of May and June. Polkadot will be more likely to rise if it breaks through the resistance mark by $20.

DOT’s relative strength index (RSI) is shown in the graph. The RSI is still hovering around 61. This indicates that the DOT price is almost overbought. As a result, merchants may trade without worry.

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The Polka dot max supply is the maximum amount of polka dots that can be mined. If this number reaches zero, then no more polka dots will be created and there won’t be any more trading on the platform. Reference: polka dot max supply.

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