Disclaimer:The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice
The Polkadot market has seen its value appreciate by at least 368% since the beginning of the year. While it began the year with a single digital value of $7, at press time, it was being traded above $40.
The growth of decentralized finance and the rally in the crypto-market could be the reason behind this surge. With a market capitalization of $38 billion, DOT was ranked seventh on CoinMarketCap’s list.
Polkadot hourly chart
Source: DOTUSD on TradingView