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With the recent recovery in the cryptocurrency market, one of the long-established altcoins, Polkadot (DOT), has posted a remarkable surge. As Bitcoin approached the $70,000 level again and Ethereum climbed above $2,000, strong momentum spread across the altcoin market. During this period, Polkadot ranked among the top-performing altcoins, capturing investors’ attention. DOT gained more than 25% in the last 24 hours, outperforming the broader market recovery.
Polkadot Becomes One of the Top-Gaining Altcoins
According to CoinMarketCap data, Polkadot rose approximately 25% within 24 hours, becoming one of the best-performing major altcoins. During intraday trading, gains were even higher. Increased investor interest drove strong trading volume, pushing DOT to the forefront of the altcoin market. Rising risk appetite, Bitcoin and Ethereum’s recovery, and short liquidations accelerated DOT’s upward movement. However, analysts note that Polkadot’s rally is not solely tied to the overall market rebound. Project-specific catalysts—including the upcoming halving, ETF expectations, and technical breakouts—have also played a significant role in boosting investor interest.
Three Main Reasons Behind DOT’s Surge, According to Analysts
Bitcoin investor and analyst Lark Davis links Polkadot’s sharp rise to three primary factors:
- Halving and Deflationary Model Expectations: The first major catalyst is the upcoming halving process. With an update scheduled for March 14, Polkadot is expected to reduce its annual token issuance by more than 50% and transition toward a deflationary model. The anticipated supply reduction and increased scarcity narrative have strengthened upward price pressure on DOT.
- Spot ETF Expectations: The second factor is speculation around potential spot ETF applications for Polkadot. Rumors that institutions like Grayscale and 21Shares may introduce Polkadot-based investment products have fueled expectations of growing institutional interest. ETF developments typically trigger strong price reactions in altcoins, and Polkadot appears to be experiencing a similar effect.
- Technical Breakout and Buying Pressure: The third factor relates to technical analysis signals. DOT broke above its 20-day moving average on the daily chart and surpassed a key resistance level around $1.40. Strong buying interest around the $1.23 support zone attracted trend-following investors, accelerating the rally.
- Current DOT Price Situation: During the latest surge, Polkadot climbed from approximately $1.23 to $1.74, delivering strong short-term performance. This move clearly reflected the combined impact of technical breakout and rising volume. Following the sharp rally, some profit-taking occurred, leading to a slight pullback. At the time of writing, DOT was trading around $1.57, managing to retain a significant portion of its gains. Analysts state that as long as halving expectations and potential ETF developments remain in focus, volatility in Polkadot may stay elevated. Holding above the $1.50–$1.55 range could strengthen upward momentum, while a break below this zone may trigger a deeper short-term correction.
Is a New Rally Starting for DOT?
Polkadot’s recent surge appears to be supported by a combination of halving expectations, possible spot ETF developments, and technical breakout signals. Alongside the broader crypto market recovery, DOT has returned to investors’ radar. In the coming period, halving updates and institutional investment news are expected to remain key drivers in determining Polkadot’s price direction.
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