Polkadot (DOT) Investor Confidence Falls As Token Loses 16%

Polkadot has been on the down low since last month with investors and traders pulling out of the market. According to CoinGecko, the token is down more than 16% in the past 2 weeks. With the bears in control of the market, Polkadot’s short-term gains might be compromised. Related Reading: Cosmos Price Analysis: Why This Analyst Says ATOM Has ‘A Great Chart’ Despite showing that Polkadot can still pack a punch, users are still skeptical of the platform’s viability and DOT’s capability to move upward in the coming days. With low investor confidence and a seemingly overhyped feature, Polkadot might be in for a rough ride in the coming days. July: A Perfect Month For DOT? On a recent X post by the official Polkadot account, they shared July metrics for the platform which, all-in-all, showed great growth last month. The platform saw a 1.1k increase in unique voters on the governance side, with over 118 referenda on the platform. Great weekend read → July ’24: Key network metrics & insights At a glace, Polkadot had:

Aug 18, 2024 - 04:00

Polkadot (DOT) Investor Confidence Falls As Token Loses 16%

Polkadot has been on the down low since last month with investors and traders pulling out of the market. According to CoinGecko, the token is down more than 16% in the past 2 weeks. With the bears in control of the market, Polkadot’s short-term gains might be compromised.

Despite showing that Polkadot can still pack a punch, users are still skeptical of the platform’s viability and DOT’s capability to move upward in the coming days. With low investor confidence and a seemingly overhyped feature, Polkadot might be in for a rough ride in the coming days.

July: A Perfect Month For DOT?

On a recent X post by the official Polkadot account, they shared July metrics for the platform which, all-in-all, showed great growth last month. The platform saw a 1.1k increase in unique voters on the governance side, with over 118 referenda on the platform.