Polkadot’s NFTs Decline in Popularity, Yet DOT Remains Resilient

Polkadot NFTs

Polkadot’s NFT activity took a hit recently, causing some worry. However, there are new NFT projects in the works that might turn things around. Despite the NFT setback, the price of DOT (Polkadot’s cryptocurrency) went up, thanks to a positive market.

Polkadot’s NFT metrics, like trade counts and trade volume, dropped in the past week, but there’s hope. A new collection of NFTs called Sub0 Biodiversity, linked to Polkadot and the Sovereign Nature Initiative, is ready for claiming. This could attract more buyers and improve Polkadot’s NFT stats.

On the financial side, DOT’s price increased by over 3% in the last 24 hours, trading at $4.25 with a market cap of $5.2 billion. The rise in price was supported by increased trading volume. However, not everything is rosy—social volume decreased slightly, and some investors were hesitant, as seen in the Binance Funding Rate turning red.

Analyzing Polkadot’s daily chart, indicators like Chaikin Money Flow and Relative Strength Index suggest a positive trend, hinting at a potential price increase in the coming days.

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Chi Do
Chi Do
Chi Do is a content writer at CoinMinutes, responsible for creating most of the content on the website, including news related to Bitcoin (BTC), Ethereum (ETH), Blockchain, Decentralized Finance (DeFi), and more. With a keen interest in cryptocurrencies since the 2020s, Chi has acquired extensive experience and knowledge in this field. Chi holds a Bachelor's degree in communication from Academy of Journalism and Communication in Vietnam.

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