- The bullish sentiment around Polkadot increased significantly last week.
- On-chain metrics were promising and market indicators remained bullish.
Polkadot Insider tweeted on February 20 Moles (DOT) Weekly summary of the ecosystem, highlighting the latest network statistics. According to the tweet, Polkadot revenue saw an increase over the past week, which was the highest ever on February 18.
👀 Let’s get to know the weekly chain summary @moles 👇
The following image shows:
👉Daily transfer amount
👉Social performance#moles #spot $ point #chains pic.twitter.com/hY7sA5bueR
— Polkadot Insider (@PolkadotInsider) February 20, 2023
Reading Dot (DOT) Price Prediction 2023-24
The total number of DOT transfers exceeded 10.1 million, while the value of bets exceeded 611.3 million. Dot’s performance on the social front also looks promising, with their social domain both noted to have posted growth of over 27%. Community sentiment regarding DOT also remained positive, as its bullish sentiment increased by more than 30%.
Not only that, but there have been quite a few partnerships and integrations over the past week. For example, Zeitgeist, a market forecasting software, announced that it plans to move molesAccording to the official announcement, the migration will take place in March 2023 and all assets and wallets will be migrated with minimal disruption to users.
#moles AND #kusama Ecosystem growing impressively with great news every day #polkadotinsider It is my pleasure to present you with a summary of the highlights of the events in @moles AND @kusamanetwork Ecosystem in the last 72 hours 📰
Check it out 👇🧵#spot #KSM pic.twitter.com/JqttjlUATD
— Polkadot Insider (@PolkadotInsider) February 19, 2023
Polkadot performed well on-chain
A look at Polkadot’s on-chain metrics suggested the network had a comfortable week. DOT has been in constant demand from the derivatives market due to its high funding rate from Binance. spotVolume also increased, which was positive news as the price rose. The social volume was relatively high, reflecting its popularity in the crypto space.
In addition, DOT development activity was also high. However, it was interesting to see fit (APT) Change DOT from its top blockchain position in terms of daily development activity on February 19, 2023.
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a week driven by the bulls
The price of the point has increased by more than 22% in the last seven days, which is commendable. According coin market capAt the time of writing, spot it was trading at $7.45 with a market capitalization of more than $8.6 billion. The daily chart for DOT showed that the bulls benefited from the market last week, which is why DOT posted a double-digit gain.
The MACD showed a bullish cross last week. Also, the DOT RSI has been trading higher for the past several days, which turned bullish. The same was true of DOT’s Chaikin Money Flow (CMF). However, things may not stay the same in the coming days as both the RSI and CMF have been trending down recently.