Why Polkadot intraday traders can look for shorting opportunities

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. USDT Dominance is a metric of the share of the crypto market cap held by USDT.

Timeline of Polkadot-new

Tether is now live on 15 different blockchain networks, according to the company's latest announcement on Friday as the firm detailed that it is now supported by the Polkadot blockchain system. The stablecoin's new support follows the token being added to the Near Protocol 11 days ago.

To shed light on the protocol's successes, Polkadot insiders have been providing key data. As it stands, these accomplishments are very helpful to the overall ‘well-being' of DOT.

Stablecoin issuer Tether is launching its flagship stablecoin USDT on the Polkadot (DOT) blockchain network. The latest expansion comes just a few weeks after the leading stablecoin launched on the Near blockchain.

Midway through the month of June, the Polkadot (DOT) price dropped and fell below the range to hit the lower support level of $5.951. Further, a rebound broke the range of $6.854, reaching $7.78 before being rejected back to the support level at $6.854. Previously, the prices soared past the $7.

The first in-game NFTs have been minted on Efinity with the launch of the MetaHome NFT collection, immediately usable in MyMetaverse's full suite of games. MyMetaverse, a game development company specializing in creator-led metaverses with play-and-earn economies, ensured that on launch, the NFTs perform different functions in three different games.

Tron (TRX) and Polkadot (DOT) investors have seen the value of their crypto assets progressively drop in recent months. Many holders are now scrambling to find alternative investments.

Development activity on Polkadot [DOT] reached an all-time high among other blockchains. This is a major feat for the network as it continues to thrive by introducing upgrades at regular intervals.

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Polkadot price analysis reveals that the DOT/USD market is bearish today. The cryptocurrency has been trading within a descending triangle pattern since the beginning of today's session.

Polkadot price analysis suggests upward movement to $6.50 The closest support level lies at $6.20 DOT faces resistance at the $6.40 mark The Polkadot price analysis shows that DOT finds support at the $6.20 mark after being rejected from the $6.40 mark. While the price stabilizes above the $6.