Hold On Tight, This Altcoin Can Take Flight! Metrics Point to the New ATH

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Cardano, Solana, LUNA, AVAX  with cryptocurrencies such as Bitcoin reaching all-time highs this month, the expectation for altcoins to rebound has increased. So BTCwith the slowing momentum of and the recent sudden collapse of, major cryptocurrencies have faced the brunt of this situation.

Polkadot is on the Way to New ATH

Popular crypto currency Polkadot (DOT) as the only altcoin in the top ten that managed to recover faster than expected after the recent decline, it emerged as a quiet winner.

BitcoinWhile the sunday dominance of the continued to fall by close to 40% over the weekend, the situation was different at Polkadot. So DOT, managed to keep its direction steadily upward following the market downturn.

Despite the decline in the market during the preparation of the content, which continues to increase cryptocurrency According to CoinMarketCap data, it continues to trade at the level of 4.70 dollars, which is an increase of 63% in the last 24 hours.

On the other hand, the DOT is moving only 23% below the all-time high of $ 49.35, while a new ATHIt’s a matter of wonder if he can sign the.

Data Shows a Bullish Sign

In the daily chart The Relative Strength Index (RSI) as it has seen an almost vertical increase, in-chain metrics and price-driven data have presented a big bullish story for the DOT. In particular, from September 7, there was a sharp increase in the percentage of the DOT’s supply of stablecoin held by whales, which amounted to more than 5 million USD.

It was noteworthy that similar peaks in the metrics were previously observed before the price peaks, since the metric is still in an upward trend. In addition, october accumulation is always a good signal for the price. According to CoinMarketCap data, trading volumes have also increased, as volumes have increased by almost 140% in the last 24 hours DOThe seemed to support the rise of the.

Also, towards the beginning of this month, the total staked supply of DOT saw a good jump, increasing from 59% to 64%. The higher the staked value, the better the strength of the network. In addition, Polkadotthe increase in development activity of the further helped to increase the price.

Crypto currency in his unit, collaborations and integrations have brought a lot of interest to projects in general. Polkadot was doing well on that front as well. So much so that Acala’s Polkadot DeFithe news that it has integrated with Chainlink to strengthen Polkadot has positively affected its price.

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