We’re happy to announce that & liquid staking is Live on Bifrost!🌈Thanks to the channel and the yield-bearing vToken derivatives, & community can enjoy increased token liquidity and rewards:
— Bifrost (@bifrost_finance)
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Optimism Lingers For DOT
While there is little doubt that ecosystem trends are encouraging, multiple signs suggest that investors may be getting carried away. We may deduce that the current price action is not a solid rally for DOT from the fact that MFI numbers are falling.1/3
An exciting integration in the Dotsama ecosystem! 🎉 provides something unique for and parachains! 🚀The Liquid Staking for and Tokens. 🪙
— Polkadot Ecosystem PromoTeam (@PromoTeamPD)
Watch the video to learn more: ⬇️
Image: TradingViewThis is reflected in CoinGlass, as the cryptocurrency tracker indicates that the majority of investors and traders are shorting the token rather than going long. Chaikin’s money flow index is similarly bearish with a reading of -0.05, confirming that a positive trend reversal for DOT is not probable at this time but may occur in the future.
Polkadot Price Forecast
Surprisingly optimistic ecosystem trends do not necessarily convert into real-world benefits. This is the case for DOT since technical indicators do not confirm the recent story of sunshine and rainbows. Investors and traders should exercise caution with DOT. If the price fails to surpass the ceiling at $5.43, a retest of the existing support at $5.18 is probable.DOT total market cap at $6.12 billion on the daily chart | Featured image from The Coin Republic, Chart: