Amid what has been a massive bull rally for the asset class, Polkadot has recently set a new record with 60 million monthly transactions as DOT could have a new path toward $20. Indeed, the crypto has enjoyed a massive surge in activity that could have it eyeing unprecedented gains.
The new milestone was hit this week, according to Token Terminal, and represents an increased upward trajectory for the token. The data analytics firm noted that the âPolkadot Ecosystem is at all-time highs,â after the most recent milestone. However, many are expecting its performance to continue trending upward.
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Polkadot Sets Activity Record as DOT Could Surge Above $20
It has been a remarkable month for the cryptocurrency sector. After Donald Trump emerged victorious in the 2024 presidential election, the asset class has been booming. With favorable regulation impending, Bitcoin surged to reach a $100,000 all-time high this week.
That has proven to be a rising tide that lifts all boats, with several cryptoâs benefiting. One that has surged is Polkadot, which has recently set a monthly transaction record at 60 million, as the market anticipates a potential move toward $20 for DOT.
Source: Gemini
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Over the last month, Polkadot has surged more than 181%, according to CoinMarketCap. Moreover, it is up almost 32% in the last seven days to trade just under the $11 mark. This increase has arrived with both daily active addresses and transactions increasing exponentially.
An important part of Polkadotâs price journey has been its ability to overtake the $10 resistance level. In response, crypto analyst Ali Martinez noted that the asset had enormous potential after breaking through. Specifically, he noted that the asset will retrace to $7.5 before exploding to the $22 mark.
