Polkadot is a blockchain network created by Gavin Wood, a co-founder of Ethereum, and developed under the Web3 Foundation. Instead of one chain doing everything, it connects many independent blockchains, called parachains, to a central relay chain that provides shared security. This lets different chains exchange data and assets. DOT is the network’s native token, used for governance, staking and securing the network.
Why is Polkadot popular?
Its main draw is interoperability. Developers can build their own chain and plug it into the network instead of starting from scratch, and DOT holders can stake their tokens and vote on network upgrades. That mix of technology and community governance has kept the project among the better-known names in India’s crypto community.
How to buy DOT on SunCrypto?
Purchasing DOT in India is straightforward, but choosing a reliable exchange is crucial. SunCrypto offers a regulated and secure way to buy and trade DOT. Here’s how you can buy and trade this coin easily:
- Download the SunCrypto app from the Google Play Store or the Apple App Store.
- Register and complete the KYC process, then link your bank account within the app.
- Deposit INR using UPI, RTGS, IMPS or a bank transfer (NEFT).
- Search for DOT in the INR market section and select it.
- Tap the “BUY” button, enter the desired purchase amount, and proceed by clicking “PAY.”
- Enter your MPIN to confirm and complete the transaction.
Once you’ve completed your purchase, you can check your holdings in the portfolio section. DOT is currently available on SunCrypto for both Spot and Futures trading.
Buy, sell, and own Polkadot instantly
SunCrypto’s spot trading facilitates buying and selling of the DOT coin at live market prices, where you own it instantly once the order is executed. Users can buy and sell this coin for a minimum INR margin of ₹150.
Go long or short on DOT Futures in INR & USDT margin
SunCrypto’s Futures Trading feature allows users to trade crypto derivatives with both INR and USDT margin options on Polkadot. The platform allows eligible users to trade DOT coin futures with the lowest INR of ₹100. Users can trade with up to 75x leverage, amplifying the profit potential to a great extent. Instead of purchasing the underlying asset, traders speculate on future price movements and can take either long or short positions depending on market sentiment.
DOT price overview
At the press time, DOT was trading at $1.15 with an intraday loss of 1.9%. Its market capitalization was $1.956B and the 24-hour trading volume was $175.497M. It has a circulating supply of 1.708B DOT, the total supply is 1.708B DOT, and the maximum supply is 2.1B DOT.
DOT price technical analysis over 1-D timeframe
Polkadot has been in a recovery phase since August. After bottoming near the $0.74 zone, the DOT price broke above the $0.9430 level, which had capped earlier rallies, and surged to $1.2853 on 11 September. It then pulled back to retest $0.9430, which now worked as support, and buyers stepped in again.
Since then, the price has been moving sideways in a range. DOT has been rejected from the $1.2853 resistance zone multiple times, while the $1.0697 support level has held each time the price dipped toward it, including the sharp wicks in early and mid October. At the time of writing, the price is trading near $1.14, roughly in the middle of this range, which shows neither buyers nor sellers are fully in control.
Source: DOT/USDT price chart over 1-D timeframe by TradingView
If buyers manage to push the price above $1.2853 on a daily close, the range may turn into a breakout. If the trading volume and OI support this momentum, the price can extend to the $1.50 mark.
Conversely, if the DOT price faces rejection from $1.2853 again, traders might prefer to book profit. Once the profit booking increases and the price slips below the $1.0697 support, sellers may dominate ahead, and the price could drop to the $0.9430 level.
Final thoughts
Polkadot is one of the better-known projects in the multichain space, and DOT is tied to demand for the network’s security, staking and governance. With DOT now on SunCrypto, users can buy it directly on the Spot market [or trade its price movements on Futures with Long or Short positions].
As with any crypto asset, DOT can be volatile. Before entering a position, consider support and resistance levels, trading volume and overall market sentiment, size your position carefully, and use risk-management tools such as Stop Loss, especially when trading Futures with leverage. Technical analysis can help identify possible scenarios, but it does not guarantee future price movements.
What is Polkadot and how does it work?
Polkadot is a multichain blockchain network created by Gavin Wood, a co-founder of Ethereum. It connects many independent blockchains, called parachains, to a central relay chain that provides shared security, so different chains can exchange data and assets with each other. DOT is the native token, used for staking, governance and paying for network resources.
How can I buy Polkadot on SunCrypto?
You can buy DOT by downloading the SunCrypto app, completing KYC verification, linking your bank account, and depositing INR via UPI, RTGS, IMPS or bank transfer. Once funded, search for DOT in the INR market section, tap “BUY,” enter your amount, and confirm with your MPIN.
What is the minimum amount required to buy or trade DOT on SunCrypto?
For spot trading, the minimum INR margin is ₹150. For futures trading, users can start with as little as ₹100 and trade with up to 75x leverage.