Polkadot’s Social Engagement Measure Increased The number of active addresses also registered a spike, but DOT’s volume fell

Despite the FUD surrounding the crypto market, POINT’s prices have risen significantly over the past week. This can be attributed to the interest that Polkadot has been through nomination pools or the increasing level of work being done to improve it user safety.

According to data from Messari, DOT prices rose 1.18% regardless of last week’s bearish chains.

Read Polkadot price prediction 2022-2023

DOT has surged through several developments

According to Lunar Crush, a social analytics platform, Polkadot’s social mentions are up 68.9% in the past week. Social engagement grew by 71.4% over the same period.

However, sentiment against Polkadot has been extremely volatile. As shown in the image below, weighted sentiment for Polkadot fluctuated from positive to negative throughout the week.

At the time of writing, the crypto community’s sentiment was negative towards the alt.

Source: Sentiment

Despite the negative sentiment towards Polkadot, the number of strikers on DOT witnessed a huge spike over the past week and stood at 22,074 at the time of writing.

Source: Staking Rewards

Another way Polkadot saw growth was in the number of active accounts on the network witnessed a huge spike in recent days. However, it later went on a journey south.

Source: Subscan

Not without some setbacks

Well, not all was good for DOT. Polkadot was unable to show sufficient volume growth in the past 30 days. Volume fell from 300 million to 126 million, according to data from Santiment. The market capitalization also recorded a significant drop, as shown in the chart below.

Source: Sentiment

All in all, most factors seem in Polkadot’s favor during this bear market. However, it remains to be seen whether DOT could survive this crypto winter.

That said, at the time of writing, Polkadot was trading at $5.35. The price is down 0.84% ​​in the last 24 hours CoinMarketCap.





This post Will Polkadot be the hidden gem of this bear market? Stats Reveal…

was published first on https://ambcrypto.com/could-polkadot-dot-be-the-underdog-coin-that-could-help-your-portfolio/

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