Polkadot’s development activity increased, but sales declined. Strikers on the network remain undaunted as volatility presented buying opportunities.

Dot [DOT]’s development activity has skyrocketed in recent months, Token Terminal reported on Jan. 16. This spike in activity can be attributed to the growing number of projects and developments within the Polkadot ecosystem.

Read Polka Dots [DOT] Price forecast 2023-2024

Parachains such as Moonbeam Network and the Astar Network were just a few examples of projects showing signs of progress and improvements. These developments also attracted a significant number of developers to the ecosystem, further driving its growth.

More than what you see at first glance

Despite this growth in development activity, revenue collected by Polkadot fell from 21.76 million to 10.74 million between January 9 and 15, according to Twitter account Polkadot Insider.

This drop in transfers had a direct impact on Polkadot’s revenue, which fell 36.4% over the past month. This declining income may worry investors.

Source: token terminal

Polka dot echoes the people

One reason for the declining revenues could be Polkadot’s declining social activity. Based on data from LunarCrush, social mentions for Polkadot were observed to drop by 46.9%, while social engagements dropped by 64.4% over the past three months. This could indicate a lack of community interest or engagement, which could have a direct impact on the platform’s growth and revenue.

In addition, sentiment towards Polkadot also remained negative, according to Santiment. Thus, the crypto community’s view of Polkadot remained negative, which could have a further impact on the platform’s improvement and adoption.

Source: Sentiment

However, despite these factors, the strikers on Polkadot’s network remained undeterred as they grew 6.6% over the past 30 days. This may be due to the popularity of Polkadot’s nomination pools, which allowed users to bet even with just one DOT.

This feature has made it more accessible for users to join the network and earn rewards, which could have contributed to the growth in stakers.

How much are 1,10,100 DOT worth today?

Source: Staking Rewards

It remains to be seen how the Polkadot’s token DOT will respond to these developments. With volatility down 47% over the past week, investors should take this opportunity to buy DOT at a relatively stable price.

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