March 31, 2023

Polkadot . development activity [DOT] It has reached an all-time high among other blockchains. This is a huge achievement for the network as it continues to thrive by introducing upgrades at regular intervals.

Polkadot Insider, a dedicated Twitter handler from Polkadot, also posted an update on this milestone recently. Mail. Will these developments make any sense to the DOT code?

Source: Santiment

Nothing here for the Ministry of Transportation

Despite the positive developments, the token continued to suffer from persistent bear market conditions. The past week or so has seen the DOT see a huge price drop.

Scallop, a popular crypto trading platform, Referred That DOT was among the three most traded currencies on its platform. This appears to be a positive development as it reflects the popularity of the coin. In addition, CoinEX Global also the name of the thing Polkadot as one of the top five cryptocurrencies for financial income.

This is not all for Polkadot. The blockchain has reported consistent data on parachains over the past 24 hours. In addition, Polkadot Insider mentioned Moonbeam’s GLMR token is the most traded token on Polkadot at $12.5 million.

This was followed by a second far-reaching MOVR token from Moonriver, worth $6.3 million. The top three list concluded with the ASTR token from Astar, with a trading volume of $4.3 million.

Source: Polkadot Insider

The same entity also recently reported Polkadot’s Weekly Digest in another tweet. According to this tweet, Polkadot has seen a transfer volume of over $77M in the past week. The network also managed to register a daily average of 1,200 new accounts.

Where does this data lead us?

DOT has been underperforming for a while now. At press time, DOT is trading at $6.25 with over 12.5% ​​weekly losses on the chart. This was a major red alert for investors who were feeling the market heat for most of the third quarter. What remains is whether the trend will continue into the next quarter.

Furthermore, a disturbing narrative also began to appear in Polkadot’s social discussions. According to cryptocurrency analytics platform Santiment, negative sentiment jumped ahead of any positivity surrounding Polkadot. While both sentiments were close to each other, FUD took the market by storm recently with a massive sell-off.

Source: Santiment

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