- Polkadot (DOT) has dropped 3.34% in the past 24 hours to $4.09, extending a week-long decline.
- Trading volume has also fallen by 22% over the past week, with the market cap now at $5.76 billion, ranking Polkadot at #20.
Polkadot (DOT) has experienced a notable price decline of 3.34% in the last 24 hours, bringing its current value to $4.09. This drop extends a week-long downward trend, with the price slipping 1.0% from $4.13 to $4.09.
Analyzing the Price Movement
The chart below illustrates Polkadot’s price movement and volatility over the past 24 hours (left) compared to its movement over the past week (right). The gray bands in the chart represent Bollinger Bands, which measure the volatility of the daily and weekly price movements. The wider these bands, the higher the volatility.
[Chart illustrating Polkadot’s price movement and volatility]
Decreasing Trading Volume and Circulating Supply
In addition to the price drop, Polkadot’s trading volume has plummeted by 22.0% over the past week. Despite the decline in trading volume, the circulating supply of Polkadot has remained stable, showing a negligible change of 0.0%. The total circulating supply stands at 1.41 billion DOT tokens.
Market Cap and Ranking
Polkadot currently holds a market cap ranking of #20, with a market capitalization of $5.76 billion. This ranking places Polkadot among the top cryptocurrencies, yet its recent performance indicates potential challenges ahead.
As the market continues to evolve, it will be essential for investors and traders to closely monitor Polkadot’s price movements and trading volume to make informed decisions.