Is Polkadot (DOT) A Must-Have For Your 2023 Portfolio?

Originally posted here.

By: Christian Encila

Overview

Chart: TradingView.com DOT May Kick Off Bullish Run Polkadot has been looking bearish as it recently dipped to as low as $4.20 in the past 24 hours. This retreat has attracted investors in the past, and it may also draw them in now. On the other hand, DOT's technical indicators hint at some bullish movement, with its volume reached a new low as registered on December 25. Still, it is now slowly recovering from the slump. Related Reading: Dogecoin Breaking Past This Key Barrier Could Spell 10% Spike For DOGE Eco-Friendly Crypto DOT's market capitalization shows that the bears still dominate the market for December, but its market cap has an uptick by $100 million overnight, which looks like an accumulation. More so, the development activity is also seen to nosedive, which can be worrisome, especially for investors. Meanwhile, Polkadot, along with Cardano and Algorand, is among the most eco-friendly cryptocurrencies, according to a new analysis by the Traders of Crypto. Polkadot ranks as the fourth most eco-friendly digital money, with annual carbon emissions of 50 tons. – Featured image: VOI

The Post

The year 2023 is said to be huge for Polkadot (DOT) as it is one of the cryptocurrencies to watch out for. Many crypto experts are very optimistic about Polkadot, and they're saying that traders should keep an eye on the coin because its developments will be big for that year.

DOT is looking bearish but can pivot to a bull run in the coming days

Polkadot is said to be an attractive addition to the investment portfolio for 2023

DOT price is down by 1.43%

Although DOT is not performing well at press time, experts in crypto believe this is the right time to invest. This coin is considered one of the best safety nets and best investments to add to your portfolio for next fiscal year.

According to CoinMarketCap , DOT price is down by 1.43% or trading at $4.28 as of this writing. And many crypto experts think that the discounted price should entice more traders to buy while the prices are still low because it's bound to spike by next year.

Polkadot: One Of The Most Liquid Assets

Even though Polkadot has depreciated in value, it's still the top-rated crypto in terms of capturing investor interest. It stands out when pitted with other cryptos as it's also one of the popular liquid assets included in hedge fund portfolios.

There is a growing demand for Polkadot and it is expected to grow the most in 2023. Many top investment firms and hedge funds have already started to put their eggs in the Polkadot basket.

DOT May Kick Off Bullish Run

Polkadot has been looking bearish as it recently dipped to as low as $4.20 in the past 24 hours. This retreat has attracted investors in the past, and it may also draw them in now.

On the other hand, DOT's technical indicators hint at some bullish movement, with its volume reached a new low as registered on December 25. Still, it is now slowly recovering from the slump.

Eco-Friendly Crypto

DOT's market capitalization for December shows that bears continue to dominate, but its market value has increased by $100 million overnight. This looks more like an accumulation. Investors can also be concerned by the decline in development activity.

Meanwhile, Polkadot, along with Cardano and Algorand, is among the most eco-friendly cryptocurrencies, according to a new analysis by the Traders of Crypto. Polkadot ranks as the fourth most eco-friendly digital money, with annual carbon emissions of 50 tons.

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Featured image: VOI