polkadot

Cardano, Polkadot Tops Staked Cap Dominance; Tron Slides To 11th Spot

April 20, 2021 by Chayanika Deka

Cardano and Polkadot have just added a new feather to their respective caps.

Over the past couple of years, a large number of ETH ‘killers’ and rivals have emerged whose popularity has exploded in Q1 of 2021. One such is Charles Hoskinson’s brainchild with a highly ambitious roadmap – Cardano blockchain, whose staking metrics demonstrated strong fundamentals.

So much so that Cardano is now dominating the charts in terms of the staked capitalization rankings according to the latest stats published by Staking Rewards.

Cardano Dominates, Polkadot Trails Behind

The blockchain is currently leading the pack and users reportedly staking $27.12 billion worth of ADA on it. In short, out of the total market cap of $38.28 billion, 73.27% of circulating ADA are being staked by the users. Staking Rewards site also estimated that the ADA stakers of the network receive an annual reward of 7.23%

Trailing just behind Cardano is Polkadot with a staked amount of $22.941 billion worth of DOT being devoted to securing the network, at the time of writing. Of the total $33,07 billion market cap, 64.16% are being staked by the DOT users, The annual reward received by the DOT stakers was estimated to be around 13.15%.

The Proof-of-Stake [PoS] consensus mechanism has become rapidly prominent among several notable cryptocurrency projects, especially with the launch of Ethereum 2.0. PoS model and its variants do not need validators to use their computational power through mining rigs to secure the network as in the case of PoW models.

Here, validators instead lock up a certain amount of their native tokens to authorize transactions and subsequently add new blocks to the blockchain. This process is known as staking.

Ethereum 2.0, on the other hand, is now the fourth spot by staked value with $8.24 billion. with a minuscule 3.31% of the total $249.5 billion market cap being staked by users. In addition, ETH stakers are generating a 7.57% in terms of annual reward. Eth 2.0, however, fell from the third spot for staked capitalization recently after Solana intensified its race and recorded a total staked value of $9.36 billion.

Tron Exits Top 10

Over the past several months, TRX has been extensively used for the purpose of staking. The native token of the highly scalable, DPoS-based [Delegated Proof-of-Stake] Tron blockchain has been widely popular among stakeholders. Despite this, Tron has slid way down to the 11th position as it amassed a staked value of $3.62 billion.

Polkadot [DOT] Sprints Towards $50 After Hitting New ATH

April 3, 2021 by Sahana Kiran

The entire crypto market was painted in green. Polkadot [DOT], Ethereum [ETH], Uniswap [UNI] along several other coins were seen in high spirits after achieving an all-time high. While all of these assets were aiming for the stars, Bitcoin [BTC] was stuck at $59K. The king coin experienced no major changes in its price over the last couple of days which caused the price of the asset to swing within $59K. The king coin’s dominance dropped down to 56.8% as the altcoins emerged.

Over the last few weeks, Cardano [ADA] exhibited a noteworthy change in its price as well as market cap. The asset even climbed up to the third position on the crypto ladder. However, the altcoin was recently overhauled by Polkadot [DOT]. At the time of writing, DOT was ranked fourth on CoinMarketCap’s list. The altcoin’s market cap was noted at a high of $42.38 billion while its price was at $45.08. The asset was seen recording a 16.66% surge over the last 24-hours while its seven-day gains were at a high of 40%.

Polkadot [DOT] One-Day Price Chart On Binance

The one-day price chart of the altcoin announced that it wasn’t very far off from hitting a new all-time high. The Parabolic SAR indicator formed a strong line of support below the candlesticks barring sudden drops in the price of DOT. The MACD indicator formed a bullish crossover as the signal line had finally slumped below the MACD line.

The Chaikin Money Flow Index indicator was up in the bullish arena in sync with the other indicators. The altcoin recently hit an all-time high of $46 and the persistence of this bullish notion could push the coin to a high of $50.

Polkadot [DOT] One-Day Price Chart On Binance

Strong buyers’ sentiment was noted in both the Relative Strength Index as well as the Money Flow indicator on DOT’s one-day price chart.

Polkadot [DOT] Sets Eyes On $36 As Bears Take A Back Seat

March 30, 2021 by Chayanika Deka

Polkadot [DOT] saw fresh gains on the 29th of March which curtailed its weekly loss to 8.15%. Coincidentally, this price action was followed by Bitcoin’s recovery which was closely followed by the altcoin lot as well.

Lately DOT has been oscillating in a tight range and has failed to sustain any higher levels. However, the crypto-asset rose by 5.79% over the last 24-hours while recording a trading volume of $1.58 over the same time. This catapulted the token’s price to $34.55 as it held a market cap of $31.93 billion, at the time of writing.

Polkadot [DOT] Daily Price Chart:

After a trading in a symmetrical triangle, DOT candles briefly broke below as bears overpowered its price action. The closing green candles depicted recuperating bulls in an attempt to take charge of the current momentum.

The moving averages were fiercely slopping upward as opposed to the price action which was trading sideways. The 50 DMA [Pink] went over a few candles after the drop but has not able to dominate the closing candle which was a positive sign. The 100 DMA [Blue] continued to hover well below the 50 DMA as well as the candlestick arrangement in Polkadot’s daily price chart.

Sell Pressure Declines

Polkadot was on a recovery mode which appeared to have flipped MACD as it was headed for a potential bullish breakout in the near-term. This depicted a rising buying demand in the market.

The dotted markers of Parabolic SAR, however, floated above the DOT candles resisting any upward price action.

The RSI also shot back up above the 50-median line suggesting a sentiment of increasing buying pressure in the market that could take Polkadot to establish a local top.

The above charts projected the return of the bulls even hints of bearish pressure still lingered. If Polkadot’s price gains the necessary momentum and retain its position above the 50 DMA, it could target its immediate resistance levels of $36.12, $38.29 and $39.5 respectively. The cryptocurrency found crucial support at $29.9 and $26.94.

Polkadot [DOT] Records Daily Slump Of 10% While Bulls Try To Find A Way Back In

March 25, 2021 by Sahana Kiran

The entire crypto-verse went on to endure a slump after its Halycon days. Polkadot [DOT], Uniswap [UNI] as well as Theta [THETA] emerged as big losers of this daily drop. After catching the eye of the community, Theta went on to nosedive by over 17% in the last 24-hours. Bitcoin [BTC] was finally making progress towards $61K. However, the bears said “no” and took the king coin back to $52K. The overall market cap of the crypto industry also witnessed a drop. Bitcoin once again dipped below the $1 trillion zones and all the other coins followed. Additionally, Tether [USDT] reemerged as the third-largest currency.

Polkadot [DOT] turned several heads as the fairly new coin rose in terms of price and market cap. DOT found its way into the top ten and even stood as the third-largest cryptocurrency for a brief period. At present, DOT’s market cap was at $28.39 billion. The altcoin during the time of writing was noted at $31.06. Furthermore, DOT was drowning in the bearish realm as it was depleting by 9.43% in the last 24-hours.

Polkadot [DOT] One-Hour Price Chart On Binance

Mixed notions were noted on the short-term price chart of DOT. The Parabolic SAR indicator laid down an array of dotted lines over the candlesticks which are considered to be bearish. However, a formation of a potential line was noted below the candlesticks which would further act as a line of support. While this line would restrict and sudden downfalls, the MACD indicator was still exerting a bearish crossover. Even though the signal line was over the MACD line, both these lines were seen trying to converge for a possible bullish crossover,

The Awesome Oscillator was in favor of the bulls as it rolled out green closing bars.

Polkadot [DOT] One-Hour Price Exhibits Sellers’ Sentiment

Both the Relative Strength Index and the Money Flow Index indicator were noticed in the seller’s zone. These indicators affirmed that DOT was recovering from being oversold, earlier today.

Polkadot [DOT] To $40 Highly Unlikely, Bears In Its Market Suggest

March 17, 2021 by Sahana Kiran

The crypto market sentiment was ambiguous as the bulls and the bears were fighting for a spot. While coins like Polkadot [DOT] and Uniswap [UNI] were harboring the bears, Cardano [ADA], Bitcoin [BTC], and several others had bulls hibernating in their markets. Bitcoin, the largest cryptocurrency had reported a setback after recording a new all-time high. Despite this, the king coin dominated the market by 60% with its price at $55,833, during press time. Almost all the assets had laid out lines of resistance which made it harder for them to surge.

Being new to the crypto-verse did not hold Polkadot [DOT] from garnering profits. The coin astounded the community with its fast-paced journey towards the top of the crypto ladder. Despite a fall, the altcoin managed to stay in the top ten with its market cap at $33.02 billion. At the time of writing, DOT was trading for $33.97 with a 1.51% drop in the last 24-hours. The previous seven days did not seem very beneficial for the altcoin either as it incurred losses up to 5.65%.

Polkadot [DOT] One-Hour Price Chart On Binance

The bulls on the short-term price chart of DOT revealed that the coin would be witnessing a rise in its price. With the formation of a support line below the candlesticks, the Parabolic SAR indicator depleted the chances of a downward breakout. The MACD line remained above the signal line indicating a bullish crossover.

Additionally, the Relative Strength Index indicator was up by the buyers’ zone.

Polkadot [DOT] One-Day Price Chart On Binance

The one-day price chart of DOT was noted providing shelter for the bears. The Chaikin Money Flow indicator was over zero exerting a bullish momentum. However, the Awesome Oscillator indicator formed red closing bars announcing the presence of the bears in the DOT market. The Money Flow Index indicator exhibited a sellers’ sentiment as the marker was down below the 40 median.

Polkadot’s [DOT] Pullback Near $30 Appears Imminent

March 8, 2021 by Chayanika Deka

Polkadot [DOT] has been under consolidation since the 20th Feb market-wide pullback right after hitting its new all-time high above $42. The crypto asset was in anticipation of a clear breakout after its trading contracts sustaining a flash crash.

Prices for the quarterly perpetual-futures contracts on Polkadot were found to be around $33.2 before tumbling more than 99%. According to reports, the contracts in question dipped as low as $0.25 in less than a minute, despite a swift rebound close to $33.

Polkadot [DOT] spot prices have, however, remained fairly unfazed by the market movement. Over the last 24-hours, the token was up by 5.74% which catapulted it to the current price level of $34.31. At the time of writing, DOT registered a market cap of $31 billion and a 24-hour trading volume of $1.5 billion.

Polkadot [DOT] Daily Chart:

On the daily chart, Polkadot’s value shrunk to a symmetrical triangle pattern which has been taking shape over the past two weeks The formation of this pattern could mean a break out in either direction. Hence, the current level will be decisive for the future of the digital asset.

Glancing at the chart, the falling prices depicted less volatility in the coin market. In addition, it can also be stated that the DOT bulls need to push the price above a crucial resistance level at $34.9 to strengthen its chances for a bullish breakout.

Aligning with the bulls were the moving averages 50 DMA [Pink] and 100 DMA [Blue] which continued to hover well below the DOT candles carefully supporting the price from extended losses.

The red closing bars instilled fear of bearish momentum gaining traction in the coming days which could flip the potential breakout towards the negative zone.

The MACD also indicated downward pressure as bears continued to dominate the demand.

The RSI, on the other hand, held its fort above the 50-median line and did not depict any signs of a fall to the sell zone. This evidenced a sentiment of buy pressure being intact among the investors of the DOT market.

The market trend signals a pullback that could result in Polkadot testing its immediate support area of $31.1. Failure to hold this level could also lead to a drop to $26.8. Yet another support level stood at $25.

If the sell-pressure fails to intensify and the technicals flip bullish, Polkadot’s resistance targets at $37.2 and $39.6 could come into the spotlight respectively.

Polkadot [DOT] Could Encounter Bears While Heading Towards $40

March 5, 2021 by Sahana Kiran

The crypto market is probably in its most volatile state. All the assets including, Polkadot [DOT], Bitcoin [BTC], Binance coin [BNB] were seen falling back after achieving new highs. Bitcoin has been swinging between $49K and $52K. While the king coin is finding it hard to form strong support at $50K, moving back to its all-time high could be difficult for BTC. Binance coin [BNB] was out of the crypto spotlight after it slumped down below $250. The altcoin even made way for Cardano [ADA] to take over the third position on the crypto ladder.

Polkadot [DOT] had witnessed an influential surge in terms of both price as well as market cap in the last few weeks. The fairly new coin shot up to a high of $42.06, which was quite a head-turner. DOT climbed up the crypto ladder and accommodated the sixth position. At press time, DOT’s market cap was noted at $33.67 billion. The asset was priced at $36.68 with a 1.54% drop, in the last 24-hours.

Polkadot [DOT] One-Hour Price Chart

The short-term price chart of DOT was seen vacationing with the bears. The Bollinger Bands indicator suggested limited volatility as the bands were seen converging. This was quite beneficial for the altcoin considering the bears present in the DOT market. The Awesome Oscillator affirmed this by forming red closing bars.

The Money Flow Index indicator was over 50 median which further suggested that DOT was in the buyers’ zone.

Polkadot [DOT] One-Day Price Chart

The one-day price chart of DOT brought in positivity in the altcoin’s market. The Parabolic SAR indicator had brought down the dotted lines below the candlesticks further restricting a downward breakout. The Chaikin Money Flow indicator mirrored this sentiment by remaining over zero. The Relative Strength Index announced that DOT was close to being overbought as the marker was close to 70 median.

While DOT could encounter a short-term blip, the asset could have a smooth journey, in the long run, the aforementioned indicators suggested.

Polkadot [DOT] Could Experience A Quick Correction Before Taking On The Bulls

February 18, 2021 by Sahana Kiran

Just as the crypto-verse was celebrating Polkadot’s [DOT] big progress to a high of $31.71, Bitcoin made a power move. The king coin hit an all-time high of $51,630.86 and shattered every bearish speculation ever made on the asset. The asset seemed to be hoarding the bulls as it aimed for $60K. While BTC was dominating the entire crypto market by over 61%, the market cap of the asset was seen at a high of $955.40 billion. After taking over Tesla and Facebook, BTC took over the prominent Chinese company Tencent.

During the time of writing, DOT was seen retracing from its all-time high. The altcoin was trading for $30.81 with a 2% rise in the last 24-hours. The coin had recorded an increase of 25% in the last seven days and seemed to be lengthening the trend. DOT is probably the only asset that has witnessed extreme growth despite being new to the crypto game. The asset currently stands as the fourth largest cryptocurrency with a market cap of $27.84 billion, ahead of prominent crypto assets like XRP, Litecoin, and others.

Polkadot [DOT] One-Hour Price Chart

The one-hour price chart of DOT revealed that the Parabolic SAR indicator was above the candlesticks. This indicated that a strong line of resistance was formed against any possible upward breakout. The MACD line sluggishly crept below the signal line which further proposed a bearish crossover. The Awesome Oscillator, however, involved the bulls as it formed green closing bars.

This confusing notion was habituating the DOT market. However, the majority was pointing at the bears.

Polkadot [DOT] Price Chart With Indicators

The Relative Strength Index indicator was implying a buyers’ sentiment in the DOT market. The Money Flow Index followed a similar trend as the marker was up in the buyers’ zone.

This trend could undoubtedly slow down the altcoin’s journey to $40 as the bears take over the short-term price chart.

Polkadot [DOT] Moves Towards $30 After Achieving ATH

February 11, 2021 by Sahana Kiran

Polkadot [DOT] as well as Chainlink [LINK] had only recently entered the crypto-verse. However, these assets did not hold back from making it to the top. Both LINK and DOT had surged exponentially throughout this crypto rally. Bitcoin [BTC] had fallen back and was seen at $45,308, during press time. Ethereum’s price change over the last couple of days urged the community to speculate the chances of ETH hitting $2K. But, ETH staggered at $1,769 and did not move ahead.

The overall crypto market cap had also taken a hit. At press time, the market cap of the crypto industry was at $1.38 trillion with BTC accounting for about $839 billion.

During press time, DOT was trading for a high of $25.11 with a 4% surge in the last 24-hours. Just a while ago, DOT hit an all time high of $25.58. The market cap of the altcoin was sitting at $22.8 billion which was quite close to XRP. This further suggested that DOT could potentially flip XRP in terms of market cap once again.

Polkadot [DOT] One-Hour Price Chart

The short term price chart of DOT revealed that the bulls had infiltrated the DOT market. The Parabolic SAR indicator formed a barrier for any sudden changes in the asset’s price in the downward direction. The 50 daily moving average was over the 100 daily moving average which was a bullish crossover.

Polkadot [DOT] Price Chart With Key Indicators

The Bollinger Bands indicator was seen diverging which pointed out a possible increase in the volatility of the altcoin. The Chaikin Money Flow indicator recommended that this surge in volatility could aid the coin’s journey to $30. The CMF marker was all the way above zero which was considered to be bullish. The Relative Strength Index indicator announced that a buyers’ notion was in the DOT market.

As all the signs were pointing at the bulls, Polkadot could finally hit an all-time high of $30, very soon.

Polkadot [DOT] To Move Earthward With Others Assets

January 21, 2021 by Sahana Kiran

Bitcoin [BTC] had finally slipped down below $35K and all the other assets followed. Polkadot [DOT], however, was seen surging amidst the bloodshed. Bitcoin Cash [BCH] as well as Litecoin [LTC] emerged as big losers of the bear struck market. XRP continued its downward trend which caused the altcoin to remain below $0.30. The DeFi coins that had been prevailing in the last few days were seen on the same downhill journey. The global market cap of the crypto-verse had also plummeted by 3% which led to the figures falling below $1 trillion down to $985.07 billion.

Polkadot [DOT] undoubtedly steered heads with its market cap pushing past $14 billion. The asset hit an all-time high of $19.32 just five days ago, however, at press time DOT was trading for $16.22. Despite this downfall, the fairly new coin retained bulls in its market.

Polkadot [DOT] One Hour Price Chart On Binance

The DOT market was recently subject to an increase in volatility. The volume in the DOT market on Binance was moving earthward after a high. In the one hour price chart of DOT, the Bollinger Bands indicator pointed out that the asset was in for a few more fluctuations, however, the bands were sluggishly moving inwards with a possibility of restraining the high volatility.

Polkadot [DOT] Price Chart On Binance With Indicators

Over the last seven days, DOT had bagged in gains of about 50%. This hot streak was all set to break thanks to the invasion of bears in the DOT market. The Parabolic SAR indicator laid out lines above the candlesticks restraining the likelihood of an upward breakout. The Money Flow Index indicator was heading back below 50 median exhibiting a sellers’ sentiment. The Awesome Oscillator indicator also revealed a bearish momentum by forming red closing bars.

Polkadot could take a plunge downwards as the bears were seen taking over.

polkadot

Cardano, Polkadot Tops Staked Cap Dominance; Tron Slides To 11th Spot