Polkadot (DOT) is trading at approximately $3.63, with a 24-hour trading volume of $139 million, a 6% increase over the past day. DOT price is up about 3% in the past 24 hours.
However, it’s been a downtrend over the past month with over 15% dump amid broader sell-off pressure. This outlook stretches back to December 2024 when price fell below $10, and currently sees Polkadot trade 93% below its all-time high of $55.
But despite this, Polkadot remains a prominent cryptocurrency and ranks 20th by market cap at $5.6 billion. Could the recent partnership between Copper and P2P.org among other catalysts bolster institutional interest in DOT, potentially influencing its price trajectory?
Copper and P2P.org partner, DOT initial support
Digital asset custody platform Copper has teamed up with institutional staking provider P2P.org to deliver secure staking services tailored for institutional investors.
Announced on April 16, 2025, this collaboration looks to integrate Copper’s cutting-edge Multi-Party Computation (MPC) technology and custody solutions with P2P.org’s robust staking infrastructure and proprietary rebalancing technology. Key is the optimization of returns for institutions by simplifying access to staking opportunities.
While the platforms plan to offer solutions for multiple blockchains, Polkadot and Solana are the first two. Ethereum and Bittensor are also being considered.
By enabling institutions to stake DOT securely, this collaboration could increase demand for Polkadot’s native token. It’s a move that could position Polkadot as a key player in the institutional staking ecosystem, potentially driving long-term adoption and price stability.
Polkadot price analysis and forecast
Polkadot’s price action has been bearish in the short term, with the token trading within a range of $3.54 to $5.36.
Key support lies at $3.54, while resistance is at $5.36, with further hurdles at $6.51 and $7.40. Technical indicators provide mixed signals.
The 50-day simple moving average (SMA) is at $4.26, above the current price, indicating downward pressure. Meanwhile, the relative strength index (RSI) and the moving average convergence divergence (MACD) indicators support a short term bearish picture.
Despite this outlook, increased institutional participation via staking could help bolster a bullish flip for DOT. An overall spike across crypto is also likely to be huge for the altcoin.
If this happens, DOT could target $10 and the crucial $20 in the short term. On the flipside, support may materialize around $3.02.
Source: Invezz / Digpu NewsTex