After another volatile week, buyers are still unable to push $DOT above $5. $DOT is trading at $4.4, up 2.5% today.

Polkadot ($DOT) has had another challenging week with sellers taking control of the week. $DOT is down 4.59% on the seven-day chart, with strong demand for altcoins at low levels.

Strong demand for $DOT at lower levels

Polkadot ($DOT) had another rough week after falling to multi-year support at $3.6 last week. On August 5, $DOT fell to support at $3.6 but quickly rebounded due to strong demand at low levels. The strong demand pushed $DOT back above $4, reaching a weekly high of $4.88 the next day. $DOT closed the week on a bearish note, falling 5.46% to close at $4.50 on Sunday.

Polkadot ($DOT) started the week with a 2% gain on Monday, but fell again on the 13th to an intraday low of $4.40. $DOT rebounded from the intraday low and eventually closed down 0.87%. In Wednesday's trading, $DOT fell 3.74%, and the price fell below $4.50. It fell further by 2.28% in Thursday's trading, and the price fell to $4.28. Buying demand increased on Friday, and $DOT rose slightly and closed at $4.29. On Saturday, August 17, buyers stepped in again, and $DOT closed at $4.36.

$DOT is up 1.99% in today’s trading and is trading at $4.4. Overall, $DOT is down 4.59% over the past week.

Demand for Polkadot ($DOT) at lower levels continues, but $DOT has been unable to break above $5, causing it to fluctuate between $4 and $5. If there is no substantial change in demand, the $DOT price outlook looks set to continue this trend.

Polkadot Ecosystem Development

Despite concerns about Polkadot ($DOT)’s recent price history, Polkadot has made significant progress in its ecosystem. Polkadot recently launched Polkadot 2.0, a major upgrade that evolves the platform into a highly decentralized solution for the new internet. The upgrade includes new features and improvements to improve user experience, lower barriers to entry, and meet market needs. Polkadot also launched a redesigned website in partnership with Web 3 marketing agency Distinctive.

The Polkadot ecosystem has also made significant progress in scalability by developing asynchronous support. Asynchronous support allows Polkadot-based blockchains to gain 10x throughput through Polkadot’s parachain consensus protocol combined with proof-of-validity recycling.