- AlephZero has been added to Polkadot as the 38th parachain.
- Despite the decline in activity, staker interest and development activity increased.
AlephZero, a zkSnark-based cryptocurrency, has been added to Polkadot [DOT] As the 38th parachain on the network. This addition to Polkadot could improve the health of the ecosystem. However, despite the growing ecosystem, there were areas where Polkadot showed no improvement.
recently, @alef__zero Officially number 38 #parachain upon @Polka dot
With new technology solutions, 👀 #Aleph Zero could narrow the gap between them all
Below are their technology solutions 👇#Polka dot $DOT #Dot #Azero pic.twitter.com/YWmKGyfK2l
— Polkadot Insider (@PolkadotInsider) February 1, 2023
read polkadot [DOT] Price Forecast 2023-2024
According to a Polkadot Insider tweet, DOT overall remittances fell last week. After that, Polkadot’s earnings also declined.
👀Know your on-chain weekly recap @Polka dot👇
The diagram below shows:
👉Daily Remittance Amount
👉 Daily new users
👉 Total Income #Polka dot #Dot $DOT pic.twitter.com/olcwyeYR1b— Polkadot Insider (@PolkadotInsider) January 31, 2023
Stakers Show Faith
Despite this overall drop in activity on Polkadot, stakers on the network continue to show interest in cryptocurrencies. This is likely due to the introduction of nomination pools that allow holders to stake only his one her DOT.
According to data provided by Staking Rewards, the number of stakers in Polkadot increased by 5.84% last month.
Source: Staking Rewards
Despite an increase in the number of stakers on the network, the amount of DOT tokens has decreased. DOT volume fell from 356 million to 192 million last month, according to data provided by Santiment.
However, development activity on the network increased during this period, as evidenced by a significant increase in contributions by developers to Polkadot’s GitHub. This increased development activity, along with a new referendum related to Polkadot’s governance, may make investors more interested in his DOT.
Realistically or not, the market cap of DOT in BTC terms is:
Source: Santimento
The interest generated by these developments may be the reason for Polkadot’s increasing market capitalization dominance over the past month. Additionally, Polkadot’s lower volatility was expected to attract more investors to the network.
Source: Messari
Despite some challenges, such as a decline in overall activity and volume of DOT tokens, the continued staker interest and increasing development activity suggests that Polkadot has a bright future.from now on Development and referendumthe network is expected to attract more investors in the future.
