Polkadot (DOT), whose bulls drove the price up 20.21% to $7.53, has now joined the market rally. Polkadot has had several massive rallies in the past, but this one appears to have little to no opposition as the current price projection is the highest since February of this year.
Supporting Polkadot metrics
Polkadot has surged by more than 36.36% at this rate in the last seven days, following a significant stalling event over the previous month. The continuous price recovery is a sign of the aggressive drive for $8 that Polkadot bulls are making. For the first time since August 2022, if reached, this will be the highest level.
Polkadot is looking well as seen by the fact that several of its key growth measures have moved into the positive zone as of late, continuing the upward trajectory that it saw in Q3. The trading volume has increased by almost 167% to $757,578,741, highlighting the strength and availability of eager buyers in the network at this time.
Polkadot has strong trading volume on major exchanges, which is one of the key indicators that it is the newest big thing in town. The volume on Binance has increased by 17.55% to $132,375,973, and significant movements were observed on Coinbase, KuCoin, and other relevant exchanges.
Polkadot gaining global traction
Polkadot is now one of the most widely utilised blockchain protocols in global supply chain management, as the protocol just disclosed, thanks to its partnership with Deloitte.
This use case highlights Polkadot’s general strength as a company that can accommodate a variety of use cases. In an effort to increase its functionality and reach in the near future, the Polkadot network has been forming strategic partnerships with other protocols, such as Cardano.
