Polkadot Down More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
Polkadot (CRYPTO: DOT) has seen a decrease of 3.41% in its price over the last 24 hours, now at $6.9, continuing a weekly downward trend of -2.0%. The trading volume for DOT has decreased by 43.0% over the past week, while its circulating supply increased by 0.53%, reaching 1.36 billion. Currently, DOT's market cap ranks #16 at $9.40 billion.
May 09, 2024 | 3:01 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Polkadot (DOT) experienced a 3.41% price decrease over the last 24 hours, with a weekly trend of -2.0%. The trading volume has decreased by 43%, despite a 0.53% increase in circulating supply, now at 1.36 billion. DOT's market cap is currently $9.40 billion, ranking it #16.
The decrease in Polkadot's price, coupled with a significant drop in trading volume, suggests a bearish short-term outlook for DOTUSD. The increase in circulating supply without a corresponding price increase may further dilute the value, contributing to the negative price movement. The market cap ranking indicates a strong position in the market, but the current trends could impact investor sentiment negatively.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100