Polkadot Treasury Reserves at All-Time Low And DOT Bears Aren’t Helping

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	301,883,271,298	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

301,883,271,298

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-3.90	-0.16%	2,507.96	2,507.75	2,507.96

Price Change

Price Change %

Current Price

Bid Price

Offer

-3.90

-0.16%

2,507.96

2,507.75

2,507.96

High Price	Low Price	Open Price	Prev. Close	52 Week Range
2,522.48	2,498.52	2,514.37	2,511.86	1,777.00 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

2,522.48

2,498.52

2,514.37

2,511.86

1,777.00 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	07:16:57	0.001709	2,507.96	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

07:16:57

0.001709

2,507.96

USD

Price x Volume	Volume	Base Symbol	Related Pairs
18,156,472.32	7,230.62	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

18,156,472.32

7,230.62

Polkadot Treasury Reserves at All-Time Low And DOT Bears Aren’t Helping

02/11/2024 2:30am

NEWSBTC

Polkadot is among the top blockchains, securing a spot in the top 20. Even though the platform promotes blockchain interoperability, a feature needed in the age of increasing fragmentation, DOT prices have failed to inspire bulls. This state of affairs on price charts reflects the general trend across the board, especially in leading smart contract platforms like Ethereum and Solana. Polkadot Treasury Reserves Down To All-Time Lows Unyielding bears have been forcing prices lower over the months since DOT rose to around $10 in Q1 2024, depleting the Polkadot Treasury Reserves. Related Reading: Bitcoin Price To New ATH Soon? Analyst Who Called $72,000 Surge Reveals What Needs To Happen In early November, one observer on X said they stood at all-time lows. However, it could get worse for Polkadot should the bears of Q3 2024 flow back, forcing prices below local support levels. The daily chart shows that DOT has critical support at around $3.8. This level marks September and October lows. On the other hand, the coin is facing strong liquidation pressure at $4.6 and $5. As the coin ranges, the direction of the breakout could shape the short—to medium-term trend but also impact the Polkadot Treasury. A lot depends on whether DOT prices will recover, which will, in turn, help the Polkadot Treasury reserves recover. Technically, prices play a big role. When bulls take over, the reserve, denominated in DOT, increases in USD terms, easing pressure on the team. Policy Intervention To Boost Funds To further increase inflows into the Treasury Reserves, the Polkadot community passed a policy to reduce inflation. Specifically, the community voted to drop DOT annual inflation from 10% to 8%. With low inflation and sustained on-chain demand, DOT prices may find support. Additionally, 15% of staking rewards distributed from stakers will be moved to the Treasury. Related Reading: Bitcoin Open Interest Reduced By $2.1 Billion In 24 Hours – Time For Spot To Push The Price? The analyst predicts these changes could boost the Treasury by adding 1.5 million DOT. This will be the much-needed infusion of funds that may increase the Treasury Reserves after months of low income. The team could build better and even strike quality partnerships, improving the blockchain’s ecosystem. Based on H1 2024 data, the team spent most on outreach, while nearly 27% went to development. The rest was split between funding research, operations, talent, and the economy. Given the valuation in the year’s first half, they spent $87 million, or around 11 million DOT, in total. Feature image from UnSplash, chart from TradingView

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