Polkadot (DOT) crashed through critical support Wednesday, tumbling 3% to $1.83 as technical selling overwhelmed bullish USDC integration news. DOT broke decisively below the psychological $1.90 floor despite Coinbase (COIN) announcing direct Polkadot network support. Heavy distribution emerged during the final two trading hours, according to CoinDesk Research's technical analysis model, as the token collapsed from $1.93 to $1.82 and stop-losses cascaded through multiple support zones. The model showed ...

Core Insights - Coinbase has expanded its derivatives offerings by introducing eleven altcoins to its perpetual-style futures, following the earlier launch of Bitcoin and Ether products [1][3][4] Group 1: Expansion of Derivatives - The introduction of perpetual-style futures for altcoins marks a significant step in the normalization of regulated crypto derivatives in the U.S. market [2][7] - The new contracts are designed to replicate perpetual exposure while complying with U.S. derivatives regulations, differentiating them from traditional perpetual contracts [3][7] Group 2: Supported Altcoins - The eleven new altcoins added to Coinbase's perpetual-style derivatives include Avalanche (AVAX), Bitcoin Cash (BCH), Cardano (ADA), Chainlink (LINK), Dogecoin (DOGE), Hedera (HBAR), Litecoin (LTC), Polkadot (DOT), Shiba Inu (SHIB), Sui (SUI), and Stellar (XLM) [4][5][6] - The selection focuses on large-cap, liquid tokens with established trading histories, alongside newer projects and popular memecoins [6] Group 3: Market Implications - Coinbase's perpetual-style futures are accessible to both retail and institutional traders in the U.S., highlighting a shift towards regulated trading environments [2][7] - These futures are listed on Coinbase Derivatives and require access through registered Futures Commission Merchants (FCMs) [7]

New Listing - Bybit added Polkadot (DOT) to its On-Chain Earn program [1] Staking Opportunity - Users can stake DOT directly on-chain via Bybit [1] - Staking DOT helps secure the Polkadot network [1] Potential Benefits - Users can earn stable returns by staking DOT [1]

Cryptocurrency Platform Updates - Coinbase 将于 11 月 3 日至 11 月 5 日禁用 Polkadot (DOT) 的发送、接收和质押功能，以完成网络迁移 [1] - 在升级期间，请勿向 Coinbase 存入 Polkadot (DOT) [1] - Coinbase 将在升级完成后提供更新 [1]

Cryptocurrency Exchange Support - Binance supported the Kusama (KSM) network migration to Asset Hub [1] - Binance supported the Polkadot (DOT) network migration to Asset Hub [1]