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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%
While DOT isn’t performing well as of press time, crypto experts believe that this is the best time to buy. The coin is regarded as one of the safety nets and best bets to include in your portfolio for next 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.
Indeed, there is an increasing demand for Polkadot, and it is seen to have the most potential to rise in 2023. In fact, as early as now, many top investment companies and even hedge funds are putting most of their eggs on the Polkadot basket.
DOGE total market cap at $9.06 billion on the daily chart | 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.
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.
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Featured image: VOI
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