Polkadot’s DOT Sees Volatility with 4% Drop and Recovery
Key Points on Polkadot (DOT) Volatility:
- Polkadot's price declined by 4% over the past 24 hours, reaching a low of $4.07 with high trading volume.
- Trading volume peaked at 3.16 million, surpassing the average of 2.31 million, indicating significant institutional activity.
- Following the drop, DOT rebounded to the $4.15-$4.18 range, showing potential support and institutional buying interest.
- Technical analysis identified strong support at the $4.07 level during the decline.
- The cryptocurrency is undergoing structural changes, consolidating core services into Asset Hub as part of its transformation into Polkadot Hub.
- The broader crypto market also experienced a downturn, with the CoinDesk 20 index down by 3.2%.
