Polkadot advances as Coinbase unlocks integration with USDC stablecoin
The exchange partnership sparked measured buying as volume rose 17% above monthly averages.
What to know:
Polkadot (DOT) climbed 1.9%, outperforming the CoinDesk 20 index, which rose 0.6%
Trading volume spiked 17% above 30-day averages on institutional flows.
The move comes a day after Polkadot announced support for USDC and withdrawals directly from Coinbase.
DOT$1.9048 posted steady gains Tuesday, rising 1.9% as Coinbase's USDC integration announcement provided the catalyst for technical breakout momentum, according to CoinDesk Research's technical analysis model.
The model showed that DOT advanced to $1.91 over 24 hours, building successive higher lows despite early volatility.
Volume was 17% above monthly averages, though the measured price action pointed to methodical accumulation rather than speculative buying, according to the model.
The model showed that support crystallized at $1.87-$1.88 through multiple successful tests.
Institutional flows accelerated as fundamental catalysts aligned with technical momentum.
The breakout coincided with heavy institutional volume of 229,817 tokens, or triple session averages, the model said. Sustained buying kept prices near session highs.
