Core Viewpoint - Polkadot has significantly declined in value and is no longer among the top 30 cryptocurrencies, trading at a low price of $1.84, raising questions about its investment potential [1]. Price Performance - Polkadot reached an all-time high of $55 in November 2021 but has since fallen dramatically, currently trading at a 97% discount from that peak [3][4]. - The price has largely flatlined over the past three years, indicating a lack of recovery [3]. Investment Thesis - The original investment thesis for Polkadot, which aimed to create a decentralized internet of blockchains, is no longer compelling as the blockchain landscape has evolved [5][6]. - The emergence of dominant Layer 1 networks like Ethereum and Solana has overshadowed Polkadot's Layer 0 vision [8]. Future Outlook - A short-term recovery for Polkadot is deemed unlikely, and investment in Layer 1 networks is recommended instead, with Ethereum being highlighted as a more promising option [5][9].

Core Viewpoint - Polkadot (DOT) experienced a significant decline, dropping 3% to $1.83, as technical selling overshadowed positive news regarding USDC integration [1] Group 1: Price Movement and Technical Analysis - DOT broke below the psychological support level of $1.90, despite Coinbase announcing support for the Polkadot network [1] - The token fell from $1.93 to $1.82 during the last two trading hours, indicating heavy distribution [1] - Volume surged to 9.47 million tokens, which is 340% above the 24-hour average, confirming institutional distribution at the $1.95 level [2] - A descending channel was formed from the $1.92 high through the $1.90 support break, establishing a bearish intermediate-term bias [5] Group 2: Support and Resistance Levels - Primary support is now established at the $1.82 demand zone after the failure of the $1.90 psychological level [5] - Resistance is currently at the broken $1.90 level, with a secondary barrier at the $1.95 rejection point [5] - Immediate resistance at $1.90 must hold as support for any recovery attempt; failure could extend downside risk toward the $1.75-$1.80 zone [5] Group 3: Market Context - The wider crypto markets also experienced a decline, with the CoinDesk 20 index falling by 2% at the time of publication [2]

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]