Polkadot (CRYPTO: DOT), an altcoin that launched at $2.69 in 2020, reached a record high of $54.98 during the crypto summer’s warmest days in late 2021.
But today, it trades at about $1
It fizzled out as rising interest rates ushered in a new crypto winter, and it didn’t recover even as a new crypto summer heated up the top tokens in 2025. So is it too late to buy this oft-overlooked cryptocurrency? Or could some underappreciated catalysts fuel its comeback over the next few years?
Why didn’t Polkadot bounce back? Polkadot initially gained a lot of attention for two reasons. First, its creator was Gavin Wood, a co-founder of Ethereum (CRYPTO: ETH).