Many popular cryptocurrencies have posted strong returns in 2023. Bitcoin is up by 92% year to date due to a stabilizing global economy. Ripple rose 60% in the same period with an extra boost from good tidings in the courtroom.

But nobody sent the bull-market memo to Polkadot (CRYPTO: DOT). The official crypto network of the Web3 Foundation is down by 4% this year instead, and the pricing pain increases to 29% if you look at its 52-week results.

So what's going on with Polkadot? Is the Web3 revolution losing steam? Are other crypto names stealing Polkadot's Web3 thunder? Or, should you consider picking up this promising token on the cheap?

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Source Fool.com