Polkadot’s development activity showed a promising future but that couldn’t be considered enough for DOT’s growth Sentiment for DOT witnessed a decline along with social engagements and mentions Polkadot [DOT] has been outperforming other cryptocurrencies in terms of development activity, according to recent data. However, despite this, the revenue generated by Polkadot has been declining. […]
on the Polkadot network and the massive drop in weighted sentiment over the past month, also pointed to poor performance.Based on data provided by Santiment, the weighted sentiment for Polkadot was mostly negative throughout last month. This indicated that the crypto community had a negative outlook toward Polkadot during that period.
Coupled with that, the social mentions for Polkadot decreased by 43.3% and social engagements for Polkadot declined by 60.6% in the last three months according to Lunar Crush.Source: Santimentsaw growth. It was in the number of Polkadot stakers on the network. According to Staking Rewards, the number of stakers on Polkadot grew by 5.6% in the last month.
The introduction of nomination pools, which account for 99% of the overall staked DOT, was one of the reasons for this growth.In addition to the aforementioned information, the volatility for DOT declined. According to data provided by Messari, the volatility for Polkadot decreased by 97% over the last month.
This suggested that Polkadot became more stable and less risky for investors to buy. This could be one of the reasons why in spite of the unfavorable developments, the market dominance of Polkadot continued to increase.Over the last week, Polkadot’s market cap dominance grew by 4.22%. This indicated that Polkadot was becoming a significant player in the crypto market.Overall, while Polkadot’s development activity stood to be impressive, it may not be enough to drive the project to new heights.
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