Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ALTCOIN NEWS»DOT drops 20% in 30 days: Is Polkadot’s low activity the reason?
ALTCOIN NEWS

DOT drops 20% in 30 days: Is Polkadot’s low activity the reason?

By Crypto FlexsJanuary 23, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
DOT drops 20% in 30 days: Is Polkadot’s low activity the reason?
Share
Facebook Twitter LinkedIn Pinterest Email

  • The price of DOT has fallen by double digits in the past month.
  • This is due to low activity on Polkadot.

The value of Polkadot (DOT) has plummeted nearly 20% over the past month. CoinMarketCap.

An on-chain assessment of activity on the Proof-of-Stake (NPoS) blockchain network shows that demand has declined since the beginning of the year, leading to a double-digit decline in DOT value.

At press time, DOT was trading at $6.73, a price level last observed in September 2023.

Source: CoinMarketCap

Bears endanger DOT holders.

The price movement of DOT observed on the 24-hour chart showed a significant downward trend.

For example, the Directional Movement Index (DMI) showed a positive directional index (green) of 12.76, which was lower than the negative directional index (red) of 25.94.

When these lines are in these positions, the downtrend is considered stronger than the uptrend because the selling pressure has much higher momentum than the accumulation pressure.

DOT’s Average Directional Index (yellow), confirming the strength of the downtrend, was found in the rally at 26.19. If an asset’s ADX is above 25, it is a sign that the current market trend is strong.

Additionally, looking at DOT’s Moving Average Convergence Divergence (MACD), we see that the indicator has crossed below the trend line on December 31, 2023 and is positioned so.

This intersection is interpreted as a bearish crossover and a sell signal for traders. The price of DOT has fallen 20% since the beginning of the year as selling pressure has surged.

Source: TradingView

In the coin derivatives market, futures open interest has declined since the beginning of the year.

According to data from coin glassDOT closed the trading session on January 21 with $221 million in open interest, a 17% decrease from the $265 million recorded on January 1.

Interestingly, despite falling prices and open interest, DOT futures traders have continued to open leveraged positions to drive prices higher.

Since the start of the year, DOT has only seen positive funding rates across cryptocurrency exchanges, according to data from Coinglass.

But as altcoin prices fell further, long-term traders faced liquidations, hitting a yearly high of $8 million as of January 3.

Source: Coinglass

Low Demand for Polkadot

An on-chain assessment of Polkadot’s network activity shows a decline in user activity since its launch this year.


Read Polkadot (DOT) Price Prediction for 2023-24


As of January 21, the number of daily transactions was 14,100, the lowest since 2024.

Source: The Block

According to The Block’s, the number of new addresses created each day on the Polkadot network has decreased by 20% over the past 21 days. dashboard.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Defi Surges, BTC Swings & Tradfi faces freezing: Daily encryption failure

August 28, 2025

Keepsolid launches KS COIN: Loyalty encryption through actual utility token benefits

August 14, 2025

XRP struggles for $ 3: Do Whale Offroads attract it lower?

August 7, 2025
Add A Comment

Comments are closed.

Recent Posts

Cango Inc. Announces August 2025 Bitcoin Production And Mining Operations Update

September 2, 2025

BitMine Immersion (BMNR) Announces Release Of August Investor Presentation And Latest Video Message From Tom Lee, Chairman

September 2, 2025

Pioneering AI Visionary Vincent Boucher & AGI Alpha Announce A Meta‑Agentic AGI Jobs Marketplace Platform

September 2, 2025

Meme Coin Little Pepe Raises Above $24M In Presale With Over 39,000 Holders

September 2, 2025

Bybit WSOT 2025 Attracts Quadruple Squads As $8M Main Competition Commences

September 2, 2025

Duration Of The Process And Important Nuances

September 2, 2025

PrimeXBT Launches “Empowering Traders To Succeed” Campaign, Leading A New Era Of Trading

September 2, 2025

Korean sleeves cut Tesla and pivot with encryption stocks.

September 2, 2025

Are you ready to token everything?

September 1, 2025

Sign Up And Get $500, Ushering In A New Era Of BTC, XRP, And DOGE Cloud Mining

September 1, 2025

Turning Social Hype Into Token Allocation

September 1, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Cango Inc. Announces August 2025 Bitcoin Production And Mining Operations Update

September 2, 2025

BitMine Immersion (BMNR) Announces Release Of August Investor Presentation And Latest Video Message From Tom Lee, Chairman

September 2, 2025

Pioneering AI Visionary Vincent Boucher & AGI Alpha Announce A Meta‑Agentic AGI Jobs Marketplace Platform

September 2, 2025
Most Popular

Tron’s SunPump presents opportunities for developers and traders

January 15, 2025

German government office holds 39,826 BTC, blockchain data shows

July 8, 2024

KyberSwap exploiter linked to $50 million HXA token movement

December 10, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.