Cryptocurrency

Can ‘eco-friendly’ Polkadot gain public favor? This data suggests…


  • Polkadot’s eco-friendliness might positively affect sentiment.
  • Upcoming developments and a rising variety of stakers might additionally drive curiosity.

According to current data supplied by PolkadotInsider, Polkadot [DOT] consumed the least quantity of electrical energy in comparison with different cryptocurrencies available in the market. This eco-friendliness might affect Polkadot and the sentiment surrounding the cryptocurrency positively.


How many are 1,10,100 DOTs price at present?


The sentiment stays unchanged

However, in response to data supplied by Santiment, the weighted sentiment round Polkadot remained unfavourable all through the final month. However, the dearth of electrical energy utilization of Polkadot might play a job in altering public sentiment across the cryptocurrency and nudge it in a constructive route.

Source: Santiment

The rising variety of social mentions and engagements for Polkadot might even have a constructive affect on the cryptocurrency. Over the final week, the variety of social mentions grew by 19%. Moreover, engagements for Polkadot grew by 23.9% throughout the identical interval.

This might point out that extra persons are speaking about Polkadot and fascinating with the cryptocurrency, which might result in elevated adoption and curiosity in DOT.

There have additionally been a number of upcoming referendums which might have an effect on the community. The new referendums would cope with governance and runtime upgrades, which might make the cryptocurrency extra enticing to traders. Additionally, the rising variety of stakers on Polkadot, which grew by 5.9% over the past 30 days, might additionally point out a constructive affect on cryptocurrency.

1674714619 831 Can ‘eco friendly Polkadot gain public favor This data suggests…

Source: Staking Rewards

Polkadot sees spike in transfers

Moreover, Polkadot’s each day switch quantity additionally witnessed an enormous spike, in response to data supplied by SubScan. The variety of transfers elevated from 9.5 million to 58.4 million over the past week. This might point out that extra persons are actively utilizing and transferring their DOT.

1674714619 257 Can ‘eco friendly Polkadot gain public favor This data suggests…

Source: SUBSCAN


Realistic or not, right here’s DOT’s market cap in BTC’s phrases


However, regardless of these constructive developments, the token’s market cap dominance declined over the previous month and volatility grew by 2.76%. This might point out that investor sentiment round Polkadot was unsure at press time and the crypto foreign money’s future efficiency was not assured.

1674714619 541 Can ‘eco friendly Polkadot gain public favor This data suggests…

Source: Messari

These current developments, though constructive, might not be sufficient for Polkadot to see inexperienced within the short-term, however it could have a constructive affect on the cryptocurrency in the long term.

The worth of DOT was $6.18 on the time of writing and it decreased by 5.51% within the final 24 hours, in response to CoinMarketCap.

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