Polkadot Price Soars 70% on Coinbase

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The price of DOT, the native token of the Polkadot project, has recorded an unexpected and steep increase on US crypto exchange Coinbase despite yesterday’s negative market tone.

In particular, the price of the crypto soared to $22.80 in just a few hours, while the cryptocurrency was trading at around $13.04 on other platforms.

The cryptocurrency market had a really bad day yesterday, when the price of Bitcoin plummeted below the psychological barrier of $30,000 dragged down by negative news coming from China regarding the mining ban in several provinces of the country as well as the ban imposed by the country’s central bank on banks, which are no longer allowed to offer their services to crypto-related companies.

For this reason, it is curious that the price of Polkadot has risen so unexpectedly on Coinbase while the rest of the market was experiencing really lumpy losses.

Coinbase has reported it is investigating what caused the price difference with other platforms, arguing that it was possibly due to the “send and receive” feature being disabled as part of the “incident.”