Decoding why Polkadot [DOT] is struggling to regain support levels

ambcrypto.com:

After a “wow” performance last week, Polkadot [DOT] has reversed to digging for new red levels. Recall that DOT was the best performing cryptocurrency among the top coins on CoinMarketCap during the aforementioned period. 

However, DOT has only produced losses for investors with the coin in the portfolio over the last 24 hours. As of 9 August, DOT was trading at $9.02, only to have fallen to $8.59 on the same day. At press time, DOT had surged to $8.70, which still represented a 2.92% decline from the day before.

Coincidentally, there have been new upgrades to the Polkadot ecosystem. On 10 August, Polkdaot approved a relay chain upgrade. After being proposed earlier, the upgrade was aimed at improving runtime migrations and database operations on its chain. 

Also, Polkadot Insider, an analytics platform focused on the Polkadot ecosystem, reported that some top crypto projects on Binance have been added to the chain. They include Chainlink [LINK], Kusama [KSM], and Phala Network [PHA], amongst others.