Can Polkadot’s network achievements gain support for the ailing DOT?

By September 21, 2022Polkadot
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development activities of Polka dot [DOT] It reached an all-time high among other blockchains. This is a huge achievement as the network continues to thrive by introducing upgrades on a regular basis.

Polkadot Insider, Polkadot’s dedicated Twitter handle, also recently posted an update on this milestone. PositionWhat do these developments mean for DOT tokens?

DOT has nothing

Despite positive developments, the token continued to suffer from ongoing bear market conditions. Over the past week or so, the DOT has witnessed a significant drop in price.

Scallop, a popular crypto exchange platform, mentioned The DOT was among the top 3 trending coins on the platform. This seemed to be a positive development as it reflected the coin’s popularity.In addition, CoinEX Global named Polkadot is one of the top 5 financial income cryptos.

Polkadot doesn’t stop there. Blockchain reported stable data for parachain for the last 24 hours.Plus Polkadot Insider report Its Moonbeam GLMR token tops the list of tokens traded on Polkadot at $12.5 million.

This was followed by a distant second Moonriver MOVR token at $6.3 million. The top three list was rounded out by Astar’s ASTR token, which has a trading volume of $4.3 million.

Source: Polkadot Insider

The same entity also reported on Polkadot’s weekly recap in another recent tweet. According to this tweet, Polkadot has witnessed $77 million worth of remittances in the past week. The network was also able to register an average of 1,200 new accounts per day.

On-chain data shows many potential points.Let’s take a look at the on-chain overview of @Polka dot Below �

Data includes:
�Transfer amount per day
�On-chain data
�Dail new account
#Dot #Polka dot $DOT #on-chain

— Polkadot Insider (@PolkadotInsider) September 19, 2022

Where does this data lead us?

DOT’s performance has been underwhelming for some time. At the time of writing, DOT was trading at $6.25 and was losing over 12.5% ​​weekly on the chart. This was a serious warning to investors who felt the heat of the market for most of the third quarter. Whether this trend will continue into the next quarter remains to be seen.

Additionally, Polkadot’s social discussions were beginning to point to a worrying story. According to cryptocurrency analytics platform Santiment, the positive sentiment surrounding Polkadot was outweighed by negative sentiment. While both sentiments were in close range with each other, FUD recently swept the market with a big sell.

Source: Santimento Can Polkadot’s network achievements gain support for the ailing DOT?

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