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Development activity on Spotted [DOT] reached an all-time high among other blockchains. This is a major feat for the network as it continues to thrive by introducing upgrades at regular intervals.

Polkadot Insider, a Twitter account dedicated to Polkadot, also posted an update on this milestone in a recent Publish. Will these developments make sense for the DOT token?

Source: Santiment

Nothing here for DOT

Despite positive developments, the token continued to suffer from the ongoing bear market conditions. Last week or so, the DOT witnessed a major drop in prices.

Scallop, a popular crypto exchange platform, mentioned that DOT was among the top three trending coins on its platform. This seemed like a positive development as it reflected the popularity of the piece. Additionally, CoinEX Global has also appointed Polkadot as one of the top five financial income cryptos.

That’s not all for Polkadot. The blockchain has reported stable data for its parachains over the past 24 hours. Also, Polkadot Insider reported that Moonbeam’s GLMR token is the most traded token on Polkadot at $12.5 million.

This was followed by a very distant second MOVR token from Moonriver at $6.3 million. The top three list ended with Astar’s ASTR token with a trading volume of $4.3 million.

Source: Polkadot Insider

The same entity also recently reported on a weekly Polkadot recap in another tweet. According to this tweet, Polkadot recorded transfer volume worth over $77 million in the past week. The network was also able to register a daily average of 1,200 new accounts.

Where does this data lead us?

DOT’s performance has been disappointing for some time now. At press time, DOT was trading at $6.25 with over 12.5% ​​weekly losses on the chart. It was a major red flag for investors who felt the heat of the market for most of the third quarter. Whether the trend will continue into the next quarter remains to be seen.

In addition, a disturbing narrative was also beginning to appear on Polkadot’s social chats. According to crypto analytics platform Santiment, negative sentiment preceded any positivity surrounding Polkadot. While the two sentiments were close to each other, FUD recently took the market by storm with huge sales.

Source: Santiment





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