Share this article
Polkadot on Coinbase Went Up More Than 70% in the Midst of Crypto Market Sell-Off
DOT was one of the day's biggest winners.
By Muyao Shen
Updated Sep 14, 2021, 1:15 p.m. Published Jun 22, 2021, 8:43 p.m.
Polkadot, the token for the smart contract blockchain of the same name, rose by more than 70% in just four hours on U.S.-based crypto exchange Coinbase. However, the price on other exchanges followed the larger market sell-off.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The crypto market has experienced a massive sell-off since Monday as bitcoin, the No. 1 cryptocurrency by market cap, plummeted below $30,000 during early trading hours Tuesday in the U.S., for the first time since January. DOT’s price, along with most of the major alternative cryptocurrencies, also declined, sinking as low as $13.04 in the past 24 hours, according to CoinDesk 20 data.
However, DOT’s price was one of the biggest winners of the day on Coinbase; it went as high as $22.80 around 12:00 p.m. ET Tuesday, up more than 70% in four hours, according to data from TradingView and Coinbase.
A spokesperson from Coinbase told CoinDesk the team is currently investigating what happened, and said the price discrepancy of DOT between Coinbase and other major exchanges is likely due to the “send and receive” function being disabled as part of “the incident.”
The San Francisco-based crypto exchange also moved the DOT/USD and DOT/BTC trading pairs on its professional platform Coinbase Pro into limited-only mode at 1:35 p.m. ET as a result of the incident.
DOT/USD and DOT/BTC “were moved to limit only to dampen (sic) expected volatility as the asset price reverts to parity with other exchanges once the incident is resolved,” the spokesperson said.
There was an incident regarding DOT trading on Coinbase on June 20, but according to both the website and the spokesperson, a fix was implemented on June 21. The U.S. crypto exchange giant started offering DOT trades on June 16.
At press time, DOT is changing hands at $15.17 on Coinbase, consistent with its price showing on CoinDesk 20.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Treads Water Near $90K as Bitfinex Warns of 'Fragile Setup' to Shocks
BTC's relative weakness compared to stocks points to tepid spot demand, making the largest crypto vulnerable to macro volatility, Bitfinex analysts said.
What to know:
- Bitcoin erased very modest overnight gains early Monday and spent the rest of the U.S. session in a tight range around the $90,000 level.
- Rising long bond yields and a small U.S. equities pulling back weighed on risk appetite as traders eye this week's Federal Reserve meeting.
- Bitfinex analysts pointed out bitcoin's relative weakness against U.S. stocks amid modest spot demand and structural softness.
Top Stories
