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.