Polkadot's Strong Decentralization Not Enough to Lift Price

Polkadot's price is under pressure despite its strong decentralization profile and positive ecosystem developments. According to Chainspect's Nakamoto Coefficient data, Polkadot ranks top among listed networks, ahead of TON and Avalanche.

The network has seen significant staking activity, with over 900 million DOT staked, bringing the network closer to the 1 billion milestone. The 21Shares Polkadot Staking ETF was also listed by DTCC under ticker TDOT on August 27.

However, a recent delisting announcement from Kraken has cast a shadow over Polkadot's price. Trading and deposits for Hydration's HDX will end on September 11, with withdrawal continuing until December 10. This decision affects Polkadot's largest DeFi platform, which disputes the decision.