April 2, 2023

Development activity on Polkadot [DOT] Reaching all-time highs among other blockchains. This is a major feat for the network as it continues to thrive by introducing upgrades on a regular basis.

Polkadot Insider, a Twitter handle dedicated to Polkadot, also posted an update on this milestone in a recent post. postal. Do these developments have any significance for DOT tokens?

Source: Santiment

no DOT here

Despite the positive progress, the coin continues to suffer from persistent bear market conditions. The past week or so has resulted in DOT witnessing a significant price drop.

Scallop, a popular crypto exchange platform, mention DOT is one of the top three most popular tokens on its platform. This seems to be a positive development as it reflects the popularity of the coin.In addition, CoinEX Global also named Polkadot is one of the top five cryptocurrencies for financial income.

That’s not all about Polkadot. Blockchain has reported stable data for its parachains over the past 24 hours. Also, Polkadot Insider report Moonbeam’s GLMR token became the most traded token on Polkadot with $12.5 million.

It was followed by the distant second Moonriver’s MOVR token at $6.3 million. The top three ended with Astar’s ASTR token with a trading volume of $4.3 million.

Source: Polkadot Insider

The same entity also recently reported on the Polkadot weekly recap in another tweet. According to the tweet, Polkadot has seen over $77 million in transfers over the past week. The network is also able to register an average of 1,200 new accounts per day.

Where are these data leading us?

DOT has been performing for a while. At press time, DOT was trading at $6.25, with a weekly loss of more than 12.5% ​​on the charts. It was a major red alert for investors who felt the heat in the market for much of the third quarter. What remains to be seen is whether this trend will continue in the next quarter.

Additionally, social discussions about Polkadot have begun to emerge with worrying narratives. According to crypto analytics platform Santiment, the negative sentiment outweighed any positive sentiment surrounding Polkadot. While the two sentiments are close to each other, FUD has recently swept the market with a massive sell-off storm.

Source: Santiment

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