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Polkadot has now established a number of parachains that are connected to the company's blockchain network. Each parachain functions on top of the Polkadot network, much like a blockchain and cryptocurrency.
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There has been no discernible trend in the crypto market in the last several days.
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Polkadot is unable to maintain its position above critical support, causing DOT to fall 10%.
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Polkadot's rising wedge was coming to an end after two weeks of sluggish price action.
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Polkadot has been holding steady since beginning an uptrend in late September. With an 80 percent increase in the last 30 days, DOT only needed an additional 17 percent increase to reach its May ATH.
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Gavid Wood recently stated that the DOT treasury currently has 18.9 million tokens (equal to $836.9 million at press time) available to spend on ecosystem development.
