Polkadot’s price has been struggling to keep up with its peers, with only a 0.78% gain in the week-to-date period. Despite its strong fundamentals as a versatile Layer 1 proof-of-stake protocol, Polkadot needs to break the publicity barrier of its parachains to see a new growth curve.
While the bulk of Polkadot’s parachains is fulfilling its end of the bargain with innovative solutions, parental publicity and promotion are still needed for adoption and long-term growth.
Polkadot has been inking strategic partnerships over the past few weeks, such as with Astar Network and Moonbeam, which are building on its ecosystem. The parent chain is also not doing badly, seeking to enhance the protocol through three key upgrades to democratize governance for substrate blockchains on the network.
However, despite these efforts, Polkadot’s price struggles indicate the need for more visibility and recognition of the decentralized applications being churned out by its parachains. Breaking the publicity barrier is crucial for changing the adoption and growth curve of DOT in the mid-to-long term.
Polkadot has strong fundamentals and is making progress in enhancing its protocol and partnerships. But to see a revival in price, it needs to prioritize breaking the publicity barrier of its parachains and increasing parental promotion for greater visibility and adoption.
Polkadot Recent Price Analysis
Polkadot price movement for today shows bears have had the upper hand as the price dropped from $6.4 to $6.29 in one hour, a 1.86% decrease. The weekly chart also shows that Polkadot has had 21.28% gains for the week-to-date period, indicating its struggles against its peers, who have seen double-digit growth over the same time frame.
The technical indicators are bearish, with the Moving Average Convergence Divergence (MACD) line below the signal line and the Awesome Oscillator showing red bars. The Relative Strength Index (RSI) is also hovering at around 52, signaling a potential bullish reversal.
However, Polkadot’s price woes are unlikely to be solved until the project can break the publicity barrier of its parachains. Breaking this barrier is crucial for increasing adoption and growth over the mid-to-long term.
Polkadot has been inking strategic partnerships with innovators and upgrading its technology, but the key to its revival lies in increasing visibility and awareness of its parachains. Parental promotion is needed for greater recognition, leading to increased adoption, usage, and growth.
By breaking the publicity barrier, Polkadot can bring its price back on track with its peers and ensure long-term growth in the coming days. If Polkadot is able to successfully promote its parachains, it can unlock a new growth curve that could benefit the entire network.
