Polkadot has had a lower performance than his closest companions like Solana, Binance Coin and Tron, since he remained in a three -year consolidation between $ 3.85 and $ 11.7.
The Polkadot price action (DOT) has seen it fall into cryptography classifications, moving from a coin among the top ten in 2021 to 22º largest. It has been overcome by newer cryptocurrencies such as Hyperliquid (Hype), Sui (SUI) and Toncoin (Ton).
Even so, there are three key reasons why the price of the point can leave the consolidation of three years soon as Ripple (XRP) did.
Polkadot ETF approval potential
A possible reason why the Polkadot price can soon increase is that the stock exchange and values commission can soon approve an ETF spot. 21Shares requested that background earlier this month
The SEC has suggested that it will be a more friendly agency for the cryptocurrency industry under Donald Trump. A way in which you could demonstrate that this is to allow ETF Spot faster, which will expose them to Wall Street investors.
Most cryptocurrencies, such as XRP and Litecoin, which are more likely to approval from ETFs, They have increased in recent weeks. Polkadot could join the rally, since it remains close to its minimum of all time.
Polkadot hours update
The other reason why Polkadot’s price could increase is migration to the joint accumulated machine or jam, which is part of Polkadot 2.0. Jam expects to combine the existing strengths of Polkadot and those of Ethereum, and then replace the relay chain in the future.
Jam also hopes to solve the challenges that have affected Polkadot in the past. The notables are the high costs of making a paratrooper, the fact that these paratroopers are isolated and that joining auctions of palace is limited and expensive.
Pokadot 2.0 will allow developers to build applications directly without going through the Paracina process. These developers will also take advantage of existing polkadot characteristics such as high bandwidth, their resistance as measures by the Nakamoto coefficient and their speed.
Polkadot can handle more than 140,000 transactions per second, much higher than the 3,000 solana.
Polkadot Price has strong technicians
Polkadot also has strong technicians who can raise their price over time. The previous table shows that DOT has remained between the $ 3.85 support and resistance to $ 11.71 in the last three years. Recently he tested the lowest side of this channel.
This consolidation reflects what happened to XRP, a file that has emerged lately. It is also a sign of accumulation, the initial stage of Wyckoff’s theory. The accumulation is generally followed by the marking phase, which is characterized by greater demand than the supply.
A strong rupture on the upper side of the channel will indicate more profits ahead, with the initial objective at $ 23.5, the 38.2% recoil level that is approximately 365% above the current level.
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