Polkadot (DOT) Price Surges by Over 6%
The price of DOT, the native cryptocurrency of the Polkadot ecosystem, has experienced a strong surge of over 6.25% in the last 24 hours, reaching $5.50 levels. This marks a trend reversal from its lows of $3.50 and signifies significant buying pressure as buyers aim for the $6.00 mark.
Potential Rally to $7.00
Technical indicators suggest that the DOT price is in neutral territory and has the potential to reach a swing high point of $7.00 in the upcoming sessions. Trading above crucial moving averages, DOT demonstrates strength and favors the bulls, indicating the possibility of entering the blue sky zone above $7.00.
The current price action reflects investors’ interest and commitment to maintaining a bullish sentiment. With trading volumes jumping by 51% to $288 million, DOT is trading close to its previous rejection levels of $5.73.
Web3 Foundation Invests in US Treasuries
The Web3 Foundation, associated with the Polkadot network, has followed the trend of allocating treasury assets to real-world assets. It recently announced a pilot investment of $1 million in U.S. treasury bills tokenized on-chain through Anemoy.
Anemoy operates on Centrifuge Chain, a Polkadot parachain focusing on real-world assets (RWA). The investment aims to provide exposure to short-term U.S. treasury bill yields through Anemoy’s upcoming Liquid Short Treasury Fund, supporting the growth of real-world assets on Polkadot’s infrastructure.
Hot Take: DOT Price Shows Bullish Momentum
The recent surge in the price of Polkadot’s native cryptocurrency, DOT, indicates strong bullish momentum. With a notable increase of over 6% in the last 24 hours and potential for further gains, DOT could rally to $7.00 in the near future. Technical indicators support this bullish outlook, as DOT maintains its gains in neutral territory and trades above crucial moving averages.
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