‘Quietly rebuilding momentum’ – Scaramucci backs Polkadot despite low network activity

Anthony Scaramucci, founder of venture capital firm SkiBridge, has flipped bullish on Polkadot.  

According to the crypto investor, the latest regulatory update and major tokenomics were some of the bullish catalysts that are ‘quietly rebuilding momentum’ for the chain. 

In the latest SEC guidance, DOT was categorized as a digital commodity like Bitcoin and Ethereum. 

Beyond regulatory clarity, the recent tokenomics overhaul has hard-capped DOT supply at 2.1 billion. Additionally, the annual emissions were cut from 120 million DOT to 55 million DOT, marking a 53% cut.  

The 21Shares Spot DOT ETF was another key catalyst, according to Scaramucci. 

However, since the product debuted, it has only seen one day of inflow of $544.5K. For the rest of March, the Spot DOT ETF has seen zero flows, suggesting that the demand is not as strong as the analyst projected. 

But the ETF demand isn’t the only thing lagging for DOT. 

Polkadot network activity declining

On the network activity and adoption, Polkadot has seen a significant loss in traction. Apart from the initial broader market hype and rally in late 2024, the chain’s adoption has been in a free fall. 

This was illustrated by the drop in weekly average active addresses, slipping from 16K to 5K in the past two years. 

It remains to be seen whether the recent tokenomics overhaul will attract users again.

On market dynamics, DOT’s tokenomics and deflation push saw sentiment briefly flip positive before reverting to negative. 

In other words, the changes temporarily tipped traders to go bullish on the altcoin. In fact, during the spike in positive sentiment, the altcoin rallied 18%. Put differently, the market welcomed the recent upgrades.  

Meanwhile, the DOT rally faded at $1.65, a key roadblock in Q1 2026. If the ongoing macro uncertainty persists, DOT may extend the pullback to $1.23. 

Overall, Scaramucci highlighted key bullish catalysts for the Polkadot chain and its native token. Even so, the chain’s traction has worsened in the past two years. It was unclear how fast the recent changes would reignite momentum and eventually lift DOT.   

Final Summary 

• For SkiBridge’s Scaramucci, Polkadot’s bullish case was ‘quietly rebuilding momentum’ after recent upgrades.
• The chain’s traction has declined in the past two years, but whether recent updates will help revive it remains to be seen.