Polkadot Price Up 4% to $12.70 – Where to Buy DOT

Fund Projects Established By Polkadot Treasury To Increase Network Traction
Fund Projects Established By Polkadot Treasury To Increase Network Traction

Polkadot is one of the networks that have shown potential in replacing Ethereum by offering high scalability. Polkadot has been on a bearish momentum this month, and despite some gains, DOT has retreated to low levels, and it is still down from its all-time high.

DOT is trading at $12.70 on major exchanges at the time of writing after a 4% gain in 24 hours.

DOT Price Analysis

DOT Price Analysis July 18
Source: Tradingview

DOT’s value has been on a steady decline, given that the current price is only a third of what the token was trading at in June. After weeks of making losses, DOT is bracing itself for a bull run. However, this bull run could be attributed to the current support from the broader cryptocurrency market.

If the uptrend continues, we might witness DOT headed towards breaking out past the immediate resistance level of $14. At this level, DOT would ignite buying support that would rally the price further. Ethereum is fighting to regain support above $2000, and this is achieved, ETH could pull other altcoins, including DOT, towards an upswing.

If DOT’s volatility resumes and another slump in price is witnessed, the token could head even lower and retest the $10 levels. DOT’s downtrend could reach exhaustion; hence, the token could slowly start rising as traders buy during the dip.

The Polkadot network is gaining increased use cases, and with increased adoption, DOT could be worth considering for a long-term hold.

Recently, the Polkadot blockchain was picked by Pontem, a Facebook experimental network for the Diem blockchain. Pontem will partner with Polkadot node provider, which will deploy nodes on Kusama and Polkadot canary networks. This is a considerable achievement for Polkadot since it shows it has the potential of actual use cases.

Where to Buy DOT

Those who want to buy DOT can do so from the following crypto exchange platforms:

  • eToro

One of the most recommended exchanges for crypto trading is eToro. eToro offers a wide range of features to its users, making it easy for them to trade on the platform. Besides, eToro is among the few exchanges that support copy trading so that new traders can learn from market experts.

  • Kraken

The other exchange where you can buy DOT is Kraken. Kraken is a secure and reliable exchange. It supports a wide range of cryptocurrencies and trading pairs. In addition, trading fees on Kraken are also affordable.

Looking to buy or trade Crypto now? Invest at eToro!

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Remember, all trading carries risk. Past performance is no guarantee of future results.

A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.

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