Polkadot eyes $1.30 target amid rising network activity and ETF interest

Polkadot (DOT) is showing signs of a price surge, with analysts eyeing a target of $1.30. This potential movement is driven by a combination of increasing network activity and growing institutional interest through exchange-traded products.

Network metrics indicate significant growth, with monthly active addresses doubling from 40,000 in August to over 80,000 in September. Monthly token trading volume has also risen by 116%, reaching $4.70 billion, while daily transactions are averaging approximately 238,000.

On the institutional side, the 21Shares Polkadot ETF (TDOT) recently recorded net inflows of $663,000 following a period of dormancy. Analysts suggest that the prospect of further regulatory clarity and the potential for more spot ETFs in the United States could act as major catalysts for capital inflows into the asset.