Polkadot Surges 13% Amid ETF Inflows and Network Activity

Polkadot (DOT) has surged by over 13% in the past 24 hours, bucking the trend of the broader crypto market. While the total crypto market saw a rally with short liquidations increasing by 17% to around $272 million, DOT's gains are due to other factors.

The network activity on Polkadot has been high, with Monthly Active Addresses doubling in September from 40K in August to a high of 82.9K, although they have since retraced to 80.3K. The monthly token trading volume has increased by 116%, hitting $4.70 billion.

Transactions on the Polkadot network are also at an all-time high, with daily transactions averaging 238K and a total of 7.20 million in the past 30 days. This is in line with previous analysis.

The capital inflows into DOT have turned positive this month, with net inflows of $663K for the 21Shares Polkadot ETF (TDOT) after two months of dormancy, according to SoSoValue. Treasury net flows also turned positive, surpassing $2.04 million in the past 24 hours.