• Polkadot (DOT) bulls were in luck this week, pushing the crypto up by 70% after overcoming a hot sell pressure zone.
• DOT has been trading under $6 for much of February, but last week it broke above the range and hit $7, the supply zone at which it would have likely fallen into a correction.
• According to CoinMarketCap, DOT price has skewed up by 0.43% or trading at $7.46 as of this writing. The price has dramatically increased as a result of the recent bullish trend that the market has been pursuing for the previous few hours.
Polkadot (DOT) Price on an Uptrend
Polkadot (DOT) bulls were in luck this week as they pushed the crypto up by 70%, building on its impressive upswing in the last month. Most recently, DOT broke past a hot sell pressure zone and flipped resistance into support, allowing long-term bulls to target higher resistance levels such as $8. At present, according to CoinMarketCap data, DOT is trading at $7.46 and is experiencing a 0.43% surge in its price due to recent bullish activity within the market over the past few hours.
Polkadot Releases Update Regarding Native Token DOT
On February 8th 2018, Polkadot released an update regarding their native token DOT which will be used on their network; stating that “staked DOTs” can now be used for governance voting when participating in network consensus processes or proposing changes/updates to Polkadot’s protocol or features moving forward. Additionally, these tokens can also be used for staking rewards; incentivizing users who are participating in validating transactions on Polkadot’s blockchain network with regular payouts from staking rewards pools when certain conditions are met such as keeping their nodes online for extended periods or processing more transactions than other nodes within their pool etc..
Impressive Performance Since Launch In 2017
Since launching back in 2017, Polkadot has made quite an impression across various industries due to its ability to provide scalable and interoperable blockchain solutions for use cases such as cryptocurrencies digital identity management and supply chain tracking among others. As more users continue to adopt and utilize its services; so too does demand grow exponentially driving prices even further upwards creating exciting opportunities for those willing to take advantage of them early on while they still remain relatively low priced compared with other leading cryptos out there today like Bitcoin Ethereum Litecoin etc..
Why Invest In Polkadot?
Investing in Polkadot could potentially bring about high returns over time due to its impressive performance since launch coupled with its growing user base across various industries looking for scalability & interoperability solutions through blockchain technology; making it one of today’s most attractive investments both short & long term wise depending upon individual investor goals & objectives respectively!
Conclusion
In conclusion; It appears that Polakdot is poised to make further gains over time thanks largely due to its innovative technology providing scalability & interoperability solutions across multiple industry sectors all while commanding relatively lower prices than many leading cryptos currently available out there today!
