- New Polkadot Referendum Could Impact Polkadot Staking
- The number of punters on the DOT platform continues to decline. However, development activity has increased significantly
A new Polkadot referendum can have an impact POINT holders who wish to stake their Polkadot. Once the referendum passes, the Polkadot nomination will result in higher nomination limits, implying that users with fewer DOT tokens could join the nomination pools directly.
Lily spotted [DOT] price prediction 2022-2023
Movers and stakers
This new proposal, which received unanimous support at the time of writing, could have a significant impact on the state of Spotted staking. As of this writing, the number of punters on the platform has depreciated by 0.07% after fluctuating over the past 30 days. The network had 21,846 stakers as of November 18.
Additionally, consistent updates around Polkadot’s staking policy could drive increased interest from stakers and lead to more consistent growth.
Polkadot has also expanded its technology during the current volatile market. In the past seven days, he has ranked number one in terms of development activity, surpassing several major cryptocurrencies.
TOP CHANNELS RANKED BY DEV ACTIVITY IN THE LAST 7 DAYS@Spotted is dominant in terms of dev performance over the last 7 days. The bear market is for builders to grow, and Polkadot is taking the risk 🔥🔥🔥#Polkador $POINT #POINT #ETH #BTC #BNB #FTM #NEAR #AVAX #FLOOR pic.twitter.com/ygbz7QhbQ0
— Polkadot Insider (@PolkadotInsider) November 17, 2022
Apart from the aforementioned information, the number of active accounts and new accounts has also increased in recent days. This spike in interest from new accounts could help Spotted survive the current bear market.
Despite the volatility surrounding the market, Polkadot has shown growth in terms of fee collection. According to Token Terminal, a crypto analytics site, revenue collected by the platform has appreciated by 65.1% over the past seven days.
However, despite many positive developments, Spottedthe volume depreciated from 714 million to 142.38 million. Along with this, its market capitalization also depreciated.
Is DOT more efficient than its platform?
POINTit is the rising volatility was something investors should keep in mind. As shown in the image below, the coin’s volatility spiked 123% in the last 30 days. However, this spike in volatility could be attributed to the current state of the market.
At the time of writing, DOT was trading at $5.60 and its price was down 2.5% in the last 24 hours.