Polkadot [DOT] manages to outperform different cryptocurrencies on this space

• Polkadot witnessed huge progress by way of income, and even stakers confirmed big curiosity.
• Nonetheless, DOT’s value continued to say no.

Regardless of the bearish sentiment plaguing the crypto market, Polkadot managed to register a rise in income. It outperformed different cryptocurrencies comparable to Polygon and Solana on this regard.

Learn Polkadot’s Price Prediction 2023-2024

In keeping with Polkadot Insider,  Polkadot’s income elevated by 212% during the last week. On the time of writing, the general income generated by Polkadot was $34,800. 

Supply: Polkadot Insider

Stake it until you make it

Moreover, Polkadot’s rising variety of stakers got here as a shock to DOT’s long-term buyers. In keeping with information offered by Staking Rewards, the variety of stakers on the community grew by 15.42% within the final 30 days.

At press time, there have been 25,429 stakers on the community. A majority of the staked Polkadot was contributed by nominators via nomination swimming pools.

In keeping with SUBSCAN’s information, out of the 568.941 million DOT staked, 99.6% of the DOT was staked by nominators.  The remainder of the 0.3% of the DOT was staked by validators.

Supply: Staking Rewards

In addition to, the each day switch quantity on the Polkadot community elevated. From SUBSCAN’s information it may be noticed that over the previous few days, there was a large spike by way of the quantity of DOT which was being transferred.

During the last week, the quantity of DOT transferred amongst addresses surged from 1.8 million to 38 million.

Supply: SUBSCAN

Nonetheless, regardless of the curiosity from stakers and rising switch quantities, Polkadot’s value wasn’t in a position to get better.

After the 16 December, DOT fell by 13.18%. Since then, Polkadot’s value fluctuated inside the $4.68 and $4.39 ranges. Its RSI was at 44.44, at press time, indicating that the momentum was with the sellers.

Nonetheless, the CMF had spiked and was at 0.18, on the time of writing. Thus, indicating that the cash movement was in DOT’s favor.

Supply: Buying and selling View

The dApp angle

The declining costs of Polkadot, nonetheless, had no impact on the exercise of Polkadot’s parachains.

How a lot Polkadot can you get for $1?

In keeping with information offered by DappRadar, dApps on the Moonbeam community, which is a parachain on Polkadot, witnessed enhancements in a number of sectors.

Well-liked dApps on the community comparable to Moonwell Artemis, noticed progress of 41.30% by way of distinctive energetic customers. Different profitable dApps comparable to StellaSwap noticed a spike of 41.89% by way of quantity throughout the identical time interval.

Nonetheless, it stays to be seen whether or not the exercise on these dApps would have an effect on Polkadot’s progress.