Polkadot Plunges 12% as Bulls Retreat Despite Growing Institutional Backing and Academic Breakthroughs
We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Although crypto prices had briefly bounced earlier this month, overall market sentiment remained fragile throughout the period.
Polkadot (DOT) dropped over 12% this past week as risk sentiment weakened, even as institutional filings and academic partnerships attempted to bolster confidence in the network.
On-Chain Metrics Show Drop in Polkadot Activity
Amid broader weakness, core metrics on the Polkadot network deteriorated.
Token Terminal data showed a drop of more than 18% in active addresses over the past 30 days. Trading volume also fell over 24% during the same timeframe.
These figures align with reduced engagement seen across much of the crypto market in recent weeks.
Open interest in Polkadot futures, however, moved in the opposite direction. According to Messari, the figure has climbed back toward $300 million.
This may indicate that some market participants are positioning for possible price fluctuations or short-term movement.
Institutional Interest and Academic Expansion in Polkadot
Grayscale Investments submitted a filing with the U.S. Securities and Exchange Commission (SEC) in February to list a Polkadot ETF on Nasdaq.
A similar proposal followed in March from 21Shares, which named Coinbase as the custodian for its planned Polkadot ETF on the Cboe BZX Exchange.
In parallel with these filings, Polkadot has also seen developments in the education sector.
Switzerland’s Lucerne University of Applied Sciences and Arts (HSLU) announced the inclusion of Polkadot Blockchain Academy content in its academic programs, both technical and non-technical.
Polkadot Technical Chart Suggests Rebound Attempt
DOT recently fell through a key support range between $3.80 and $4.00, reaching a five-month low of approximately $3.30.
Following the plunge, $DOT has managed to bounce back slightly and is now trading near $3.51.
It has since stabilized near $3.51. This level is close to a previously active support zone that was associated with upward movement in late 2024.
MACD data shows early signs of a potential bullish crossover, a common indicator used to track changes in momentum.
While not a confirmation of trend reversal, the signal could suggest a pause in selling pressure.
If price reclaims the $3.80 level, it may indicate that the recent breakdown lacked follow-through.
A return above that threshold could bring attention back to the $4.20 level observed earlier this year.
- [LIVE] Fed Payments Innovation Conference: Real-Time Updates as Federal Reserve Discusses Crypto, Stablecoins, and AI with Industry Leaders
- Crypto Market Prospect: After the Washout, the Soil Looks Richer
- Bitcoin Price Prediction: Why $88,000 Could Be the Calm Before a $94,000 Push
- XRP Price Prediction: $1.9bn ETF Inflows Put $2.15 Breakout Back in Play
- Bitcoin May Not Have Bottomed Yet as Social Media Fear Remains Low: Analyst
2M+
250+
8
70
- [LIVE] Fed Payments Innovation Conference: Real-Time Updates as Federal Reserve Discusses Crypto, Stablecoins, and AI with Industry Leaders
- Crypto Market Prospect: After the Washout, the Soil Looks Richer
- Bitcoin Price Prediction: Why $88,000 Could Be the Calm Before a $94,000 Push
- XRP Price Prediction: $1.9bn ETF Inflows Put $2.15 Breakout Back in Play
- Bitcoin May Not Have Bottomed Yet as Social Media Fear Remains Low: Analyst
More Articles
in numbers
