Anthony Scaramucci, founder of venture capital firm SkyBridge Capital, has turned bullish on Polkadot. He cites recent SEC guidance categorizing DOT as a digital commodity and a major tokenomics overhaul as key catalysts. However, network activity has declined significantly, and the new 21Shares Spot DOT ETF has seen minimal inflows, presenting a mixed picture for the blockchain’s momentum.
Anthony Scaramucci, founder of SkyBridge Capital, has flipped bullish on Polkadot. “The latest regulatory update and major tokenomics were some of the bullish catalysts that are ‘quietly rebuilding momentum’ for the chain,” he stated.
Recent SEC guidance categorized DOT as a digital commodity like Bitcoin and Ethereum. The chain also implemented a tokenomics overhaul, hard-capping the DOT supply at 2.1 billion.
Annual emissions were cut by 53%, from 120 million to 55 million DOT. The 21Shares Spot DOT ETF was another key catalyst Scaramucci highlighted.
Since its debut, the ETF has seen only one day of inflow, worth approximately $544,500. For the rest of March, the product has seen zero flows, data shows.
Network activity on Polkadot has seen a significant decline in traction. Weekly average active addresses have slipped from 16,000 to 5,000 over the past two years.
The tokenomics changes briefly flipped market sentiment positive, leading to an 18% rally. That rally, however, faded at the $1.65 price level.
If macro uncertainty persists, DOT may extend its pullback to $1.23. Overall, Scaramucci highlighted bullish catalysts while the chain’s user traction has worsened.
