Polkadot struggles in crypto markets, but investors remain optimistic about future potential

From Investing.com

August 13, 2024 09:18:46 AM:

Crypto markets are struggling this week as investors await the U.S. inflation report. Polkadot (DOT) has dropped 3% in the past 24 hours to $4.45, but is up by 6% in the last week from a low of $3.6 earlier this month. Investors remain optimistic about DOT’s future potential in the Web3 technology revolution.

Long-term, investors are optimistic about Polkadot’s role in decentralizing the web. The JAM upgrade, expected by 2025, aims to enhance security and cross-network communication. DOT price reached a peak of $54 in 2021 before dropping to $3.5 recently, creating potential for a double bottom pattern that could see prices reaching $20 contingent on improved risk sentiment.

Read more at Investing.com: Here’s what needs to happen for DOT/USD to hit $20 By Investing.com