Polkadot (DOT) is in the green (see image below) and going steady. Could this hint at price recovery? Even though Polkadot\u2019s funding rate plunged for a while, it is showing some improvement at the time of writing.<\/p>\n
Here\u2019s a quick look at DOT price movement:<\/p>\n
\u00a0Polkadot price is up by 14.9% in the weekly
\n \u00a0DOT low in market cap dominance
\n \u00a0DOT shows a spike in development activity<\/p>\n
According to Coingecko, DOT price has skyrocketed by 4% in the last 24 hours, and trading at $6.50<\/a> as of press time.<\/p>\n\n January was phenomenal for most cryptocurrencies that are enjoying a price rally, but DOT was seen struggling and was unable to reach its pre-FTX levels<\/a>.\u00a0<\/p>\n On a positive note, DOT was the only asset that consumed the least electricity when pitted against other cryptocurrencies. This eco-friendly quality of DOT can drive positive momentum for the coin.<\/p>\n POLKADOT \u2013 THE ECO-FRIENDLY BLOCKCHAIN<\/p>\n Thanks to CCRI Report 2022, we found @Polkadot<\/a> was ranked #2, only followed by US Household in terms of the total yearly electricity consumption <\/p>\n Let\u2019s see more details below #Polkadot<\/a> $DOT<\/a> #AVAX<\/a> #ALGO<\/a> #BTC<\/a> #ETH<\/a> #SOL<\/a> #ADA<\/a> pic.twitter.com\/S5WxxvJSA0<\/a><\/p>\n \u2014 Polkadot Insider (@PolkadotInsider) January 25, 2023<\/a><\/p>\n Even though the weighted sentiment on Polkadot remained to be negative last December, its low electricity consumption can drive a change in public sentiment, switching it to positive which is great news for Polkadot.<\/p>\n\n The low trading volumes suggest that the bears may have the upper hand. This action has the potential to push DOT prices below the $6.154 support level, putting the brakes on the recent uptrend in DOT.<\/p>\n DOT is predicted to spike in terms of development activity which could tick developer interest this year. In addition, DOT is said to potentially tip its pre-FTX levels in the next couple of days or weeks.\u00a0\u00a0<\/p>\n \u00a0<\/p>\n\n In the event that this positive pattern persists, DOT\u2019s pace of rebound is estimated to climb, which would enable bulls to charge beyond the resistance located at $6.845 and $7.235, which is the range that existed before the crypto turmoil broke out around late November.<\/p>\n The number of people staking DOT has also increased by over 6.2% as seen in the past month which also hints at a positive streak for the asset. More so, social metrics have also increased for DOT. <\/p>\n Social mentions<\/a> spiked by 7.6% with engagements shooting over 26K. Interestingly, DOT has been increasingly popular as more people are interested in and talking about it.<\/p>\n Additionally, there are upcoming referendums in line with runtime and governance upgrades<\/a> that could increase the attractiveness of the coin to investors.<\/p>\n Meanwhile, the market sentiment enveloping DOT still has that air of uncertainty considering its shrinking market cap and high volatility.<\/p>\n Featured image from Freepik<\/em><\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Polkadot (DOT) is in the green (see image below) and going steady. Could this hint at price recovery? Even though Polkadot\u2019s funding rate plunged for a while, it is showing some improvement at the time of writing.<\/p>\n Here\u2019s a quick look at DOT price movement:<\/p>\n \u00a0Polkadot price is up by 14.9% in the weekly According to Coingecko, DOT price has skyrocketed by 4% in the last 24 hours, and trading at $6.50<\/a> as of press time.<\/p>\n January was phenomenal for most cryptocurrencies that are enjoying a price rally, but DOT was seen struggling and was unable to reach its pre-FTX levels<\/a>.\u00a0<\/p>\n On a positive note, DOT was the only asset that consumed the least electricity when pitted against other cryptocurrencies. This eco-friendly quality of DOT can drive positive momentum for the coin.<\/p>\n POLKADOT \u2013 THE ECO-FRIENDLY BLOCKCHAIN<\/p>\n Thanks to CCRI Report 2022, we found @Polkadot<\/a> was ranked #2, only followed by US Household in terms of the total yearly electricity consumption <\/p>\n Let\u2019s see more details below #Polkadot<\/a> $DOT<\/a> #AVAX<\/a> #ALGO<\/a> #BTC<\/a> #ETH<\/a> #SOL<\/a> #ADA<\/a> pic.twitter.com\/S5WxxvJSA0<\/a><\/p>\n \u2014 Polkadot Insider (@PolkadotInsider) January 25, 2023<\/a><\/p>\n Even though the weighted sentiment on Polkadot remained to be negative last December, its low electricity consumption can drive a change in public sentiment, switching it to positive which is great news for Polkadot.<\/p>\n The low trading volumes suggest that the bears may have the upper hand. This action has the potential to push DOT prices below the $6.154 support level, putting the brakes on the recent uptrend in DOT.<\/p>\n DOT is predicted to spike in terms of development activity which could tick developer interest this year. In addition, DOT is said to potentially tip its pre-FTX levels in the next couple of days or weeks.\u00a0\u00a0<\/p>\n \u00a0<\/p>\n In the event that this positive pattern persists, DOT\u2019s pace of rebound is estimated to climb, which would enable bulls to charge beyond the resistance located at $6.845 and $7.235, which is the range that existed before the crypto turmoil broke out around late November.<\/p>\n The number of people staking DOT has also increased by over 6.2% as seen in the past month which also hints at a positive streak for the asset. More so, social metrics have also increased for DOT. <\/p>\nPolkadot Eco-Friendliness To Drive Positive Momentum<\/h2>\n
Social Metrics Up For DOT<\/h2>\n
\n \u00a0DOT low in market cap dominance
\n \u00a0DOT shows a spike in development activity<\/p>\nPolkadot Eco-Friendliness To Drive Positive Momentum<\/h2>\n
Social Metrics Up For DOT<\/h2>\n