Assessing Polkadot Odds [DOT] maintaining its growth

By August 9, 2022Polkadot
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Assessing Polkadot Odds [DOT] maintaining its growth

Polkadot has been grabbing headlines recently with his performance. The latest updates on the net have added fuel to the uptrend of DOT in the crypto market.

This has made DOT the highest performing crypto asset among CoinMarketCap’s top 10 tokens. DOT, at press time, was trading at $9.01 after taking a significant bullish charge over the week at 16.35%.

However, the token has lost momentum since August 8 and has taken a 3.34% hit.

dotting the map

According to data from Lunar Crush, Polkadot has scaled new heights this week. In a weekly review to updatePolkadot Insider has provided information to support this claim.

Social network signals suggest that Acala, Moonbeam, and Astar are the most influential projects in Polkadot right now.

Polkadot social mentions have registered around 211.29 thousand, while the social domain has increased by 0.40% during the period under analysis.

Surprisingly, social engagements around Polkadot topped 700 million during the first week of August.

Source: Polkadot Insider/Twitter

In addition, the Polkadot-based Astar network has Announced a partnership with Alchemy Platform to accelerate dApp development.

This press release will certainly be a boost for Polkadot as it will promote user growth.

Another Polkadot-based network, Phala, has thrown out a stake pool description function in your app.

It will allow pool owners to access social channels like Discord and Twitter directly from the app.

1/ Last week the Polkadot ecosystem continued to build, unfold and grow. Check out some of the ecosystem announcements and hear the latest from parachain teams, infrastructure providers and wallets in this week’s newsletter. #PolkadotRoundup.

Read the � below

– Polkadot (@Polkadot) August 8, 2022

Well, Polkadot has certainly shown growth in various on-chain metrics. The sentiment from across the market has provided a timely push to support Polkadot going forward.

However, a report suggests that the DOT could still experience a short-term setback. He trailed the bears at press time after noting a negative reversal in the last day.

A sudden setback has changed the course of network volume, which was still 36% up on August 9.

source: ambcrypto.com

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