MSFT

Microsoft Corporation

267.70
USD
3.41%
267.70
USD
3.41%
241.51 349.67
52 weeks
52 weeks

Mkt Cap 2.01T

Shares Out 7.51B

Chat
Send me real-time posts from this site at my email

Polkadot Bucks Trend, Surging Higher This Morning on These Catalysts

What happened As of 11 a.m. ET today, Polkadot (CRYPTO: DOT) was the only cryptocurrency seeing gains over the past 24 hours out of the top 15 tokens ranked by market capitalization. This token surged 2% higher, but also saw gains of more than 11% since last evening's lows. This strong move higher appears to be driven by outsize interest in this scaling protocol. Much of this has to do with the strength of many projects built on top of Polkadot, including the likes of Acala, which just raised $250 million to support this decentralized finance project's stablecoin ecosystem growth, and Astar, a growing smart contract hub that just announced a partnership with Microsoft. Additionally, the announcement today that Osprey Funds' Polkadot Trust is now publicly trading on the over-the-counter market has investors intrigued by the extent to which institutional money will flow into this platform. So what To be sure, Polkadot provides a high-growth ecosystem of very compelling projects for investors to consider. As one of the base layer networks vying for developer interest and user market share, Polkadot has posted some relatively impressive numbers thus far. Should this growth trajectory continue, and developers continue to flock to Polkadot moving forward, both retail investors and those on the institutional side could be well rewarded. Today's move appears to be more closely correlated to the launch of the Osprey Polkadot Trust. Like exchange listings and other catalysts that improve the liquidity and investor base of a given project, the launch of an investment vehicle aimed at institutional investors could spur a broader and longer-term investor base for this project. That's encouraging for existing investors in Polkadot. Now what This is a tough market to navigate, and despite these rather strong tailwinds, Polkadot's gains this morning are somewhat trivial. I think we're likely to see more pain on the horizon before we see a recovery. Accordingly, diving into any cryptocurrency on catalysts like these may continue to produce underwhelming results. However, over the long term, Polkadot is a project that does provide some interesting real-world value. The projects being built on this platform are both noteworthy and growing, suggesting Polkadot's growth runway could be much larger than many anticipate right now. I'm on the sidelines with this token for the time being; however, DOT is one of the key tokens I'm watching in this environment. 10 stocks we like better than Polkadot When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Polkadot wasn't one of them! That's right -- they think these 10 stocks are even better buys. *Stock Advisor returns as of April 27, 2022 Chris MacDonald has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Microsoft. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue