- Community exercise round DOT remained fairly steady final week.
- DOT was up by 3%, and some indicators seemed bullish.
Polkadot [DOT] just lately outshined different cryptos on a essential entrance, highlighting its excessive income. In the meantime, the blockchain’s native token gained an upward momentum after weeks as its day by day chart turned inexperienced.
Polkadots progress price is excessive
Whereas the market remained considerably bearish final week, Polkadot had different plans when it comes to captured worth.
Polkadot Insider, a well-liked X deal with that provides updates associated to the Polkadot ecosystem, just lately posted a tweet highlighting one of many blockchain’s newest achievements.
DOT ranked primary on the checklist of blockchains when it comes to incentive progress price within the final seven days. Other than Polkadot, Ronin and Mina Protocol additionally made it to the highest three on the identical checklist, whereas Avalanche [AVAX] registered the best unfavourable progress.
RANKING BLOCKCHAINS BY INCENTIVE GROWTH RATE IN 7 DAYS
🤔Which blockchains have the best incentive progress price up to now week?
👀Discover out in our newest infographic that ranks the highest🔟performers based mostly on the expansion price of its incentive
🌟You is perhaps stunned by a few of… pic.twitter.com/iUYZ70PoHX
— Polkadot Insider (@PolkadotInsider) January 26, 2024
The expansion price was additionally famous when it comes to different key metrics. AMBCrypto’s evaluation of Token Terminal’s data revealed that DOT’s charges remained excessive all through the final week.
An identical pattern was additionally famous when it comes to its income, suggesting stability. Not solely that, however the blockchain’s day by day lively addresses additionally remained excessive final week, which seemed optimistic.
Supply: Token Terminal
How is DOT doing?
Amidst that, DOT’s worth additionally fell final week. In accordance with CoinMarketCap, DOT was down by greater than 5% within the final seven days.
Nonetheless, the excellent news was that the pattern modified as Polkadot’s worth chart turned inexperienced. Within the final 24 hours, the token’s worth shot up by over 2%. On the time of writing, it was buying and selling at $6.56 with a market capitalization of over $8.3 billion.
Because of the rise within the token’s worth, its social metrics additionally soared. Santiment knowledge revealed that Polkadot’s social quantity elevated within the latest previous.
Bullish sentiment across the token additionally elevated final week, as evident from the rise in its weighted sentiment.
Supply: Santiment
Is your portfolio inexperienced? Verify the DOT Revenue Calculator
To grasp whether or not DOT would be capable of keep the worth hike, AMBCrypto checked its day by day chart. We discovered that the MACD displayed the potential for a bullish crossover.
Each its Cash Move Index (MFI) and Chaikin Cash Move (CMF) additionally registered upticks, hinting at an additional uptick in Polkadot’s worth. One other bullish indicator was DOT’s Bollinger Bands, because it identified that DOT’s worth was in a considerably risky zone.
Supply: TradingView