Is Polkadot still a hot coin?

Time was passing well and in meanwhile, Polkadot has lost market cap quite much going down to 20sh positions on CoinMarketCap.
It has lost quite a lot places on CoinMarketCap and also lost much of it's initial fame when Polkadot came out from Gavin Wood was faded.
Is Polkadot still a hot coin for you?

I had a bad experience trading DOT, and it was my fault for trading it when it was hyped and hard to sell. I think it was more than 5 years ago already. So I think DOT being in 20th place after all this time is still a good coin to have. It's unlike shitcoins that come and go when pumped and dumped.

It's better than other altcoins that come out. It depends on why you are investing in it in the first place. It's not a hotcoin anymore.

Quote from: crwth on Today at 10:48:13 AM

Actually its on #46 position if we base the CMC listing.

And to bad you got carried out by hype, but can't blame you for that initial reaction. Since we can't deny that Polkadot is so hyped before. Many look at it as one of promising coin exist in the market.

Now it seems that there's no much discussion about it, then many people who trades it before shift their focus and try other alts in the market.

Didn't lost something on Polkadot, but I think they are not ideal choice to deal with at the moment.

Quote from: Phu Juck on Today at 10:43:36 AM

Is Polkadot still a hot coin for you?

The coin is like a shit coin as it fall below the price it fell below in the last cycle. I mean it got to another lowest price this year since it got to all-time high and lowest price few years ago.

Just use small amount of money to invest on the coin. An amount of money that you can afford to lose.

Who knows if it is the POS that affected the coin this much.

Quote from: Phu Juck on Today at 10:43:36 AM

Is Polkadot still a hot coin for you?

It's not.

TVL dropped to the 66m as well as the daily users. It's also generating only 4k USD as its daily revenue, which makes no sense compared to its 1.6B FDV at this moment. This coin is just overvalued coin with only their supporters are the only their users.

It's also not among the top L1 at this moment. It's far away to be compared with Solana or Ethereum.

Polkadot is also still having quite fast emission while it's less demand to buy it. It will be going even lower, and it's among the coin that potentially die in the future.

Just be realistic they're no longer attractive chain. They also have fewer dapps due to their complexity of their blockchain.

I think part of the fade is structural. In the early days the parachain slot auctions made people lock up huge amounts of DOT in crowdloans, so the hype had real supply being taken off the market. When they moved to coretime sales that lock-up demand basically went away, and the staking rewards keep coming on top, so there is steady sell pressure with nothing forcing people to hold. That is a different thing from the tech being bad, since the design is still some of the most thought-out stuff around. But a good design with few users doesn't move a price. I'd only get interested again if I saw coretime actually being bought by real projects, because until then the price is mostly driven by what the rest of the market does.

Quote from: Phu Juck on Today at 10:43:36 AM

Is Polkadot still a hot coin for you?

In terms of market attention, hype and demand, I wouldn't classify DOT as a hot altcoin, others have already wrote the reason why. The hype that surrounds a hot altcoin is not usually hidden and I expect a hot altcoin to not be in the bottom of the coin ranking list. In my opinion, I feel that if the team do a tokenomics reform, then the coin might feel revived but right now, it doesn't really feel like a good decision for me to want to invest in the coin, and perhaps I don't like altcoin again.