Polkadot's price movement today has been influenced by broader market trends, particularly the strengthening of the U.S. dollar. The dollar's rise has historically had an inverse relationship with cryptocurrencies, including Polkadot, as investors often move away from riskier assets like cryptocurrencies when the dollar strengthens. This trend is evident as the overall market capitalization of cryptocurrencies fell by 3%, with major tokens experiencing declines. The anticipation of economic policies from President-elect Donald Trump, which are expected to bolster the U.S. economy, has contributed to the dollar's strength, thereby impacting the crypto market.
Polkadot's price has seen a decline of 1.14% today, with the current price standing at $6.784244. The cryptocurrency reached a high of $7.083660 earlier in the day but has since retreated to its lowest point of the day.