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Polkadot (DOT) has joined the market uptrend after its bulls pushed the price up by 20.21% to $7.53. While this is not Polkadot’s first mega rally in recent times, the coin seems to have little to no resistance as the current price outlook represents the biggest it has recorded since February of this year.
Supporting Polkadot metrics
At the current pace, Polkadot has jumped by more than 36.36% in the trailing seven-day period, from which it has experienced a major stalemate over the past month. The ongoing price rejuvenation is symbolic of an ambitious run by Polkadot bulls to push the price above the $8 milestone. If achieved, this will be its highest level for the first time since August 2022.
Polkadot is in a positive light, with some of its most important growth metrics shifting into the positive zone today, a build-up from its Q3 growth trend. The trading volume is up by more than 167% to $757,578,741, underscoring the power and presence of enthusiastic buyers in the network today.
Other important metrics that show Polkadot is the next rave of the town are also high as the coin’s trading volume on top exchanges remains elevated. On Binance, the volume has surged by 17.55% to $132,375,973, and elevated trends were seen on Coinbase, KuCoin and other exchanges that matter.
Polkadot gaining global traction
As revealed by the protocol recently, the collaboration between Kilt Protocol and Deloitte has further placed Polkadot on the radar as one of the most used blockchain protocols in global supply chain management.
This use case underscores the overall strength of Polkadot as an outfit where different use cases can be harnessed. The Polkadot network has been building strategic collaborations with other protocols like Cardano as it seeks to expand its functionality and reach in the near future.
Alex Dovbnya
Valeria Blokhina
Vladislav Sopov
