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Polkadot (DOT) price rallies 100% and derivatives data points to more upside

Published 08/13/2021, 05:00 PM
Updated 08/14/2021, 07:00 PM
Polkadot (DOT) price rallies 100% and derivatives data points to more upside

Polkadot (DOT) is a blockchain project designed to interconnect sub-chains called parallel chains or parachains. Each application-specific chain built within Polkadot uses the Substrate modular framework, and this is meant to ease the development process.

The project has been at the center of developers' and investors' attention for most of 2021, but the sharp market-wide correction on May 19 dealt a heavy blow to the DOT price, and the team has been relatively quiet for the past two months.

Polkadot (DOT) performance in USD at Coinbase. Source: TradingView
Polkadot (DOT) aggregated futures open interest. Source: Bybt
Polkadot (DOT) perpetual funding rate. Source:

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