Polkadot Price Shows Resurgence
Polkadot, by this point one of crypto’s blue chips and in the top 20 cryptos by market cap, has reversed its sluggish price action today, exceeding $6. In a recent tweet by the team, they hit back at critics, saying “Polkadot has a bad UI/UX." Nope, it's not 2021 anymore!” Presumably, this refers to the confusion that many investors experienced at the complicated parachain auctions of 2021.
As there are now so many more blockchains in 2024, Polkadot’s focus on scalability and interoperability remains an important one and may be behind the recent push to $6. Buyers may also be feeling bullish about the Polkadot 2.0 upgrades scheduled for this year.
While holders took profit at $6, briefly pushing the price back down to $5.90, $DOT quickly reclaimed the $6 price and is currently sitting at $6.05.
However, as is often the case with older projects, the price performance remains weak in comparison to Bitcoin and also newer blockchains, such as SUI and SEI.
Polkadot is up by 11% on the 1-year chart and 47% on the biweekly.
