👉👉Polkadot Rally: Coinbase's Secret ETF Application Increases DOT Price 👈👈

Polkadot has faced various challenges since 2021, and during this period the token has generally declined despite occasional rises. New developments regarding a potential ETF approval could change this stop.

Polkadot's Challenging Journey and Market Fluctuations

Polkadot (DOT) has faced several market challenges after reaching an all-time high (ATH) in 2021. The token experienced a great rise since its inception, but had difficulty returning to its former peaks. Short-term gains seen during periods such as the March bull market were generally limited, and the DOT continued to trade well below its ATH. Currently, DOT is trading 89% below its ATH level, reflecting a prolonged bearish trend.

According to the latest information from the crypto community, various speculations are floating about Coinbase's attempts to launch a Polkadot ETF. Approval of this ETF could be a critical turning point for DOT and reverse its long-standing downward trend. On July 4, 2024, crypto analyst 0xNobler pointed to Coinbase's ongoing application process and stated that the first approval is expected in mid-July. This could reignite investor interest in Polkadot.

In light of these developments, DOT's market performance has begun to show some signs of recovery. DOT, which dropped to $5.02 on July 5, rose by 6.84% to $5.99. However, the token fell 17% on a monthly basis, showing that volatility continued. The possibility of a Polkadot ETF could provide a needed boost to both the token's price and its ecosystem

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