Polkadot slips below $0.85 despite decentralisation lead
Polkadot’s DOT token fell below $0.85 on Saturday as selling pressure returned after a brief August rebound, leaving the cryptocurrency struggling to reclaim the psychologically important $1 level despite favourable network decentralisation metrics. DOT was trading near $0.84, down about 4 per cent over 24 hours and roughly 9 per cent over seven days. Its market value stood near $1.42 billion,…
Polkadot's DOT token fell below $0.85 on Saturday due to renewed selling pressure, despite strong network decentralisation metrics. The cryptocurrency struggled to regain the psychologically significant $1 level after a brief rally above that level in August. At $0.84, DOT has slipped about 4% in the past 24 hours and 9% over the past week.
Its market value is near $1.42 billion, with around 1.7 billion tokens in circulation. The decline follows the brief rally above $1 on August 22, which buyers were unable to sustain. Polkadot's decentralisation ranking, measured by Chainspect's Nakamoto Coefficient, is the highest among listed networks at 166, indicating a large number of validators and distributed control.
However, alternative analyses suggest this figure could be as low as 25. The token is trading between $0.83 and $0.88 during the latest 24-hour period, only slightly above its August 18 low of $0.73. Technical indicators suggest the recovery has yet to establish a durable trend. DOT's underlying economics, such as its staking structure and hard supply cap of 2.1 billion tokens, provide a contrasting picture. However, the token remains weak compared to the broader decline in the cryptocurrency market.
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