Crypto prices are volatile at press time, and among some of the best cryptos to buy, investors and traders are tracking Polkadot (DOT). Presently, DOT ranks among the top altcoins, securing a spot in the top 20, trading at around $3.95 at spot rates. The coin is under pressure, losing nearly 10% in the past seven trading days and aligning with the general trend in the crypto scene.
Although DOT may be selling off, there are hints that the coin might find support. If it does, one analyst on X believes Polkadot could easily more than double, rising by a whopping 200% in the coming sessions. In his view, several factors will fuel demand, rapidly lifting its valuation back to the January and February 2025 ranges.
Why DOT Price Can Spike By 200%
Like Ethereum, which plans the highly anticipated Pectra upgrade, Polkadot developers are scheduled to activate multiple hard forks. One of the key updates being watched is the success of Polkadot 2.0. This upgrade will be transformative, and once it goes live, the network will be more scalable and offer even lower fees.
A key feature of Polkadot 2.0 is Asynchronous Backing, which aims to rapidly increase transaction speeds. At the same time, Polkadot will introduce elastic scaling, allowing the distributed network to dynamically adjust its capacity based on demand. This means that Polkadot, unlike competitors like Solana—which currently hosts some of the best meme coins to buy in 2025—can adjust its processing speeds and scalability depending on network demand.
For this reason, regardless of onchain activity, there will be no instances where it becomes congested, degrading the user experience. Ahead of these major changes, Polkadot recently activated Agile Coretime, eliminating the need for parachain auctions. For projects running parachains and relying on the Relay Chain for security, they now have a more flexible arrangement and can use block space depending on how users engage with their dApps.
The analyst argues that these enhancements will position Polkadot as one of the most scalable and efficient blockchain ecosystems. Subsequently, this may make the network attractive to developers and enterprises, potentially boosting DOT prices.
Stablecoins In Circulation At All-Time Highs
Reflecting this and setting the foundation is the surge in stablecoin minting on Polkadot.
According to public data shared by Polkadot, stablecoins in circulation on the network are at an all-time high. This boost comes from directly integrating native USDT and USDC on Polkadot with major exchanges like Binance and KuCoin. Coupled with relatively low transaction fees, stablecoin activity on Polkadot is gaining momentum.
The number of Stablecoins on Polkadot is at an ATH.
Native USDT & USDC is integrated with major exchanges such as Binance, KuCoin, Gate and more.
Fees for sending USDx on Polkadot are less than $0.006 pic.twitter.com/YPGVROHo8F
— Polkadot (@Polkadot) March 13, 2025
If Polkadot becomes a go-to platform for enterprises, it wouldn’t be surprising for DOT to gain regulatory clarity. This, in turn, could pave the way for the approval of a spot DOT ETF, similar to those for Ethereum and Bitcoin. So far, Grayscale and 21Shares have submitted applications with the United States SEC for a spot DOT ETF.
JUST IN: 🇺🇸 21Shares files updated version of its spot Polkadot $DOT ETF S-1 application.
— Whale Insider (@WhaleInsider) March 6, 2025
If approved, the product would allow traditional investors to buy DOT, boosting demand and liquidity.
As of this writing, DOT has support in the $3.60 and $3.80 primary support ranges.
(DOTUSDT)
This marks a key level, and if it remains intact, DOT could recover sharply, potentially rising by 200%. However, if sellers press on, the coin may crash, sinking to October 2023 lows of $3.55 to $3.60.
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Key Takeaways
- DOT down 10% in a week but analyst thinks the coin can surge by 200% if support holds
- Polkadot 2.0 Asynchronous Backing and elastic scaling will be key price drivers
- Stablecoin circulation on Polkadot is at an all-time high
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