Here you can read the first and second parts of the article. Polkadot leads in crypto development activity, with a 30-day developer activity figure of ~500 commits.
In September, Polkadot saw over 500 daily contributions on GitHub, a record high. Let’s explore more about one of the most important assets of our holdings: Polkadot. But first, you have to know that in Altcoin Buzz Alpha we have more analysis like this one. You can sign up here.
Polkadot’s Performance
Polkadot had 26,258 messages sent between their parachains using XCM. In August, there were 14,930 developer contributions on Polkadot’s GitHub.
Polkadot now has 66 live blockchains on Polkadot and Kusama. They’ve exchanged over 140,000 messages across 135 channels. Polkadot and Kusama have paid out a total of 9.6 million DOT and 346,700 KSM (worth $72.8 million) for ecosystem funding proposals.
1. Dolpha Feature Alert: Added a new dashboard for displaying various DOT Staking stats. Few observations below in the thread:#dot #polkadothttps://t.co/2PweBlOUTP pic.twitter.com/wq5Z3Tl9fN
— Dolpha.com – Polkadot Analytics (@TheDolpha) September 25, 2023
DOT Price Action
In the first week of September, The Polkadot (DOT) price broke down from a critical horizontal support level of $4.40. It reached the lowest weekly close since 2020.
On September 14th, the Polkadot network observed a substantial spike in the number of active addresses. But this surge was followed by a subsequent decline in activity. Did we make a good decision to add DOT to our holdings? Tell us in the comment section.
In contrast, since then the influx of new addresses signing up for the Polkadot network remained relatively subdued. This suggested that while existing users may be actively engaging with the network, the influx of newcomers was limited.
Source: Polkadot
Cosmos Stats
- ATOM crypto price fell by 18.79% since last month.
- Cosmos has given negative returns since the beginning of the year (-25.97%), while in the 6-month period, it gave 37.66% returns.
- Earlier this month, Kava Chain went live on Fireblocks, opening Cosmos DeFi to institutional investors.
Conclusion
Like the vast majority of large web3 projects in our holdings, the Polkadot ecosystem has significantly decreased its interaction, yet they continued to build. At Altcoin Buzz, we will continue to do this kind of reporting on Polkadot and many other important projects on Altcoin Buzz Alpha. You can sign up here.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
