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What is the market situation of dot (dot currency)?

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What is the market situation of dot? After a significant increase following the

What is the market situation of dot (dot currency)?

What is the market situation of dot? After a significant increase following the decline in Bitcoin prices, it has been trending sideways for some time based on the daily chart. However, as long as it does not fall below the long-term support level of $10,700, it shows an upward trend, and this rebound is still continuing. If we look at the previous trend, it indicates that the bullish momentum is still strong. But considering the current situation, it is likely to test the vicinity of $10,050 before confirming a breakthrough, so overall, DOT is a good buying point.

dot currency

According to official news, dot (Polkadot) is a decentralized protocol based on Bitcoin. DOT is currently the third-largest virtual currency in terms of circulating market cap worldwide, with its token economic model similar to mainstream public chains such as BTC and ETH. The project completed an ICO at the end of last year and raised a round of $10 million in financing, led by Polychain and a16z, with investors including Coinbase Ventures, Sequoia Capital India, and Alameda Research.

DOT is a programmable blockchain protocol designed to enable peer-to-peer transactions while maintaining privacy and anonymity.

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