Polkadot's (DOT) inflation discussions have become more intense with the decline in the value of DOT. Currently, there are differing opinions on whether DOT's depreciation is due to inflation or the growth rate of the network.
A Reddit user noted that if the altcoin's value decreases faster than the staking rewards offered, these rewards will not be enough. Discussions about Polkadot's (DOT) inflation rate have increased noticeably in recent days. Various users on Reddit advocate lowering the inflation rate to increase the value of the coin. One user summarized this view by stating that if the underlying value of DOT depletes faster than rewards, the impact of staking rewards will diminish.
In the discussions, some participants argue that the problem is the altcoin's slow network growth rather than inflation. Users state that the increase in network adoption can offset inflationary pressure, and even zero inflation may not solve fundamental growth problems. Compared to networks like Ethereum or Solana, where staking rewards are earned by those who secure the network through validators and nomination, Polkadot's rewards, which range from 8% to 14%, are considered by some to be unsustainable given current market conditions.
While Polkadot reached a peak of $11.8 in early 2024, it has since lost more than 56% and is currently trading at around $5. This decline has been exacerbated by market sentiment and ongoing inflation pressures. Last week, approximately 2.8 million DOT tokens worth over $14 million were released, putting additional downward pressure on the price of DOT.
Technical analysis also highlights the challenges facing the DOT. The Relative Strength Index (RSI) has been consistently below average since April, indicating continued selling pressure. This technical indicator reflects the weakness in market sentiment and, combined with inflation concerns, reinforces a negative outlook for the altcoin. Additionally, a Deribit report published in June noted that inflationary pressures are impacting the value of many ETH L2 tokens, pointing to a broader trend in the crypto market.
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