- Polkadot tops the list of top blockchain protocols by development activity.
- DOT gives a bullish week but is already showing bearish signs.
Moles The native DOT cryptocurrency has just finished a bullish week during which it outperformed the major cryptocurrencies. Despite this, there isn’t much going on for your parent network this month.
how much is 1,10,100 points are worth today?
DOT changed hands at $6.45 at press time, a slight pullback from its weekly high. Still, that same price represents a 20% premium A 24% rally from its weekly low or from its current 4-week low.
At the time of publication, price movement It was in conjunction with Bitcoin and Ethereum, but unlike them, DOT has yet to hit a new YTD high.
The latest price turn may not be extraordinary, but it is a notable positive move for the Polkadot network. The latter has been relatively overshadowed by major developments in other networks and pipelines.
Speaking of development, the latest data from GitHub ranks Polkadot as the top blockchain network. development activity.
GitHub daily development activity:
#1: 710 Polka Dots / Kusama
#2: 679 cardano
#3: 572 Decentralized
#4: 497 Hedera
#5: 469 Link Chain
#6: 417 Apts
#7: Position 404
#8: 355 Internet Computers
#9: Universe 341
#10: 330 Lido DAO Tokens pic.twitter.com/6QbR3eoE66– ProofGitHub (@ProofGitHub) March 18, 2023
Polkadot has been on the list frequently and has been at the top multiple times so far this year. This highlighted a healthy confirmation that the network was still being built after some announcements related to the development of the protocol.
As of this writing, the development activity metric was at its highest point in the last two weeks. Similarly, DOT’s market capitalization returned to its two-year high. The last time it touched this mark was March 14.
Source: Feeling
realistic or not, here it is market cap point in terms of btc
Also on the development front, Polkadot has just announced the availability of Smalldot 1.0.0. the latter is Moles Thin client that can connect to multiple networks.
little dot @moleslite-client just hit 1.0.0 and now beats RPC. And with the Connect browser extension, there isn’t even a few seconds sync time on page load. Here it is used for many pages and for many networks, including Westmint. Yes, it works for parachutes too! pic.twitter.com/6phNWrViA0
—Gavin Wood (@gavofyork) March 17, 2023
The Smoldot Lite client is one of the projects that can be the basis of the above development activity. However, this development may only be a small part of the project that is currently the basis for strong development activity.
Are we likely to see more upside?
Well, DOT volatility has dropped significantly in the last two weeks. This may explain why it failed to hit a new YTD high. The low volatility may indicate limited price action, but it is worth noting that volatility is starting to pick up once again.
Source: Feeling
An increase in volatility indicates a higher probability of a bearish retracement. The decline in investor confidence over the past seven days, as indicated by the weighted sentiment metric, further retracts the bearish bias.
