The year 2021 appears to have been benevolent towards cryptocurrencies by far as many of the top trading cryptos have reached new all-time high prices, including Bitcoin (BTC) and Ethereum (ETH). Polkadot (DOT) emerges as yet another prominent cryptocurrency and blockchain project, scoring exceptional gains in the last 30 days. DOT is a new crypto, the native digital asset to the Polkadot network. As Polkadot is experiencing rapid popularity, what can we expect from DOT in the market?
Polkadot (DOT) Scores Over 200% of Gains in the Last 30 Days
Even though DOT is encountering a negative trend reversal with the latest daily dip of -5%, DOT is among the top trading cryptocurrencies, taking fourth place by market capitalization. The monthly chart is showing an exceptional series of gains, recording 206% of rises in the last 30 days. DOT is seen in a decline on the weekly chart with a 5% decline. However, the biweekly chart is recording nearly 90% of gains, which means that DOT had almost 100% returns in only two weeks of trading. What makes Polkadot as popular is the fact that the project represents another blockchain-based “supercomputer”, much like the second-biggest crypto, Ethereum (ETH). Polkadot offers increased scalability and faster transaction times alongside Dapp functionalities and features, making it a strong competitive project among over 2,000 different cryptos in the market.
Polkadot (DOT) Price Analysis: Polkadot (DOT) BUY or SELL?
Polkadot is dubbed as the future of DeFi (decentralized finance), a blockchain branch experiencing strong positive momentum in recent months. That is how DOT is showing serious gains in the last 30 days. Trading View analysts provided their predictions on BUY and SELL movement for DOT. Out of 26 analysts, 14 suggest DOT as a SELL for 15-minute intervals and swing trading. When it comes to long-term trading in the period of the next 30 days, the final result is NEUTRAL with zero votes.