Polkadot Plunges 12% as Bulls Retreat Despite  Growing Institutional Backing and Academic Breakthroughs

Author

Jimmy Aki

Author

Jimmy Aki

About Author

Jimmy has nearly 10 years of experience as a journalist and writer in the blockchain industry. He has worked with well-known publications such as Bitcoin Magazine, CCN, and Blockonomi, covering news...

Author Profile

Share

Copied

Last updated: 

April 11, 2025 15:58 EDT

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Although crypto prices had briefly bounced earlier this month, overall market sentiment remained fragile throughout the period.

Polkadot (DOT) dropped over 12% this past week as risk sentiment weakened, even as institutional filings and academic partnerships attempted to bolster confidence in the network.

On-Chain Metrics Show Drop in Polkadot Activity

Amid broader weakness, core metrics on the Polkadot network deteriorated.

Token Terminal data showed a drop of more than 18% in active addresses over the past 30 days. Trading volume also fell over 24% during the same timeframe.

These figures align with reduced engagement seen across much of the crypto market in recent weeks.

Open interest in Polkadot futures, however, moved in the opposite direction. According to Messari, the figure has climbed back toward $300 million.

This may indicate that some market participants are positioning for possible price fluctuations or short-term movement.

Institutional Interest and Academic Expansion in Polkadot

Grayscale Investments submitted a filing with the U.S. Securities and Exchange Commission (SEC) in February to list a Polkadot ETF on Nasdaq.

A similar proposal followed in March from 21Shares, which named Coinbase as the custodian for its planned Polkadot ETF on the Cboe BZX Exchange.

In parallel with these filings, Polkadot has also seen developments in the education sector.

Switzerland’s Lucerne University of Applied Sciences and Arts (HSLU) announced the inclusion of Polkadot Blockchain Academy content in its academic programs, both technical and non-technical.

Polkadot Technical Chart Suggests Rebound Attempt

DOT recently fell through a key support range between $3.80 and $4.00, reaching a five-month low of approximately $3.30.

Following the plunge, $DOT has managed to bounce back slightly and is now trading near $3.51.

It has since stabilized near $3.51. This level is close to a previously active support zone that was associated with upward movement in late 2024.

MACD data shows early signs of a potential bullish crossover, a common indicator used to track changes in momentum.

While not a confirmation of trend reversal, the signal could suggest a pause in selling pressure.

If price reclaims the $3.80 level, it may indicate that the recent breakdown lacked follow-through.

A return above that threshold could bring attention back to the $4.20 level observed earlier this year.