By Franklin Smith
The Polkadot ecosystem has seen massive happenings as the recent data indicated growing speculation. Polkadot’s chain led the development activity char within the last 24 hours.
The network led rivals like Ethereum, Solana, and Bitcoin, with the index at 344. Increased development activity signals that the chain might ship functionalities in the future.
DOT-ing Right Lines
Polkadot appears to resurrect from June lows stylishly following multiple developments. The blockchain has remained eager to showcase its capabilities regardless of the present volatility crisis within the cryptocurrency market.
The latest updates showed projects on Polkadot continued to grow. For instance, the Huobi exchange recently listed PolkaBridge, marking a swift expansion. Furthermore, investors can access DOT for staking on Binance, ensuring a massive exposure for the platform.
Recent Galaxy Score for Polkadot projects shows a quality and health token performance. Poolz Finance topped this list, while Ankr, Mantra DAO, and Dock followed. Also, Polkadot Inside released updates on Bifrost’s Rainbow Boost 3.0 performance.
The network has seen over 7900 users joining, with 100 accessing 47,000 raindrops. Moreover, individuals have minted over 188K vKSM through SLP, with 22% of the total supply (over 42,000) mined during the program.
A Challenging Week
DOT hasn’t reflected the present development activity on Polkadot, as the altcoin recorded plummets. Polkadot’s native token drooped more than 29% within the previous week while surrendering 5% of value over the last 24 hours alone.
The crypto remains deteriorated after the August 19 crypto market slump, which saw leading assets losing crucial support floors. DOT sees more red candlesticks even after the latest recovery in most tokens. While publishing this post, Polkadot traded at $7.04 (Coinmarketcap data).
Bears have shown their presence lately, With Bitcoin sliding after failure to overpower $25K. While writing this content, BTC changed hands at $21,411, following slight upside actions within the past 24 hours.
Meanwhile, the broad market attempted leg-ups over the last day. The global crypto market capitalization stood at $1.02 trillion, gaining 1.09% within the past 24 hours. Will the upside hold? Time will tell.