One Cryptocurrency Trading Above the Support Levels- Polkadot (DOT)

Cryptocurrency Report.

One Cryptocurrency Trading Above the Support Levels- Polkadot (DOT)

20 March 2025

| Read Time :5:00 Mins

DOT

Investment Type

Crypto

Risk Level

Action

Rec. Price (US$)

Cryptocurrency Market Round-Up

Typically, cryptocurrencies are termed as digital currencies and use blockchain technology to record every transaction. Polkadot (DOT) is a next generation blockchain platform designed to enable seamless interoperability between different blockchains. Launched in 2020, it was created by Dr. Gavin Wood, a co-founder of Ethereum, to facilitate secure data and asset transfers across multiple networks while maintaining decentralization and scalability. DOT has a market capitalization of ~USD 6.97 billion (as per TradingView as of March 20, 2025).

Last week, the S&P Cryptocurrency Broad Digital Market (BDM) Index began on a bearish note, extending its decline by 220.00 points (~4.46%) to close at 4,712.50 on March 14, 2025. However, as the new trading week kicks off on March 17, 2025, the index has regained positive momentum. The broader cryptocurrency market is also trending upward, with major assets like Bitcoin and Ethereum posting gains, reinforcing the prevailing bullish sentiment.

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