The cryptocurrency industry was once again a $1 trillion market. Polkadot’s [DOT] latest jump in terms of the market cap seems to have aided the surge of the global market cap to $1.04 trillion. The retracement Bitcoin and other coins were facing over the week, seemed to be over as all the other coins were seen rising up. Bitcoin [BTC] was aiming to hit $40K with a 9.80% rise over the last 24-hours. At press time, XRP was trading for $38,130 while its market cap stood at $712.51 billion. XRP was the only asset recording a slump while all the other coins were bagging gains.
Polkadot [DOT] was seen trading at $11.94, during press time. Even though the coin entered the crypto-verse during the pandemic, it proved to be one of the most promising assets. Earlier today, the altcoin hit an all-time high of $12.21 as it rose by over 32.66% in the last 24-hours.
Polkadot [DOT] One-Day Price Chart On Binance
The one-day price chart of Polkadot revealed that the asset would most likely continue this upward trajectory. The Bollinger Bands were miles apart which indicated an increase in volatility. The Awesome Oscillator affirmed that a surge in volatility was for the best as it formed a green closing bar and indicated the presence of bulls in the DOT market. The Money Flow Index revealed that DOT was being overbought. The MFI marker was seen recovering from the overbought zone, but a buyer’s sentiment prolonged in the DOT market.
Polkadot’s Market Cap
Polkadot was on a roll. The altcoin surprised several when it made its way into the top ten and remained there for a long time. DOT finally made it to the top five as its market cap pushed past $10 billion. The coin overshadowed coins like Bitcoin Cash [BCH] as well as Litecoin [LTC], which have been in the industry for quite a while now. While XRP had fallen below LTC before, DOT could surpass the troubled asset if it prolonged its journey.