• The price of Polkadot’s cryptocurrency, DOT, increased by more than 7% in the last 24 hours.
• Updates to the Polkadot ecosystem and on-chain metrics suggest a further uptrend.
• Recent developments such as NFT integrations and SuperHedge choosing Moonbeam for its testnet could drive the network’s growth.
Polkadot Price Uptrend
DOT’s price increased by over 7% in the last 24 hours of press time. Ecosystem updates and on-chain metrics suggested a further uptrend. Polkadot Insider recently revealed a major bullish signal for DOT as it was found that the coin was only behind Ethereum [ETH] on the list of blockchains in terms of Altrank.
Scenario Turned Out To Be Different
Though the recent bullish market played its part in pushing DOT’s price upward, the gains were not equivalent to the Altrank findings. Other cryptos, such as Cardano [ADA] and Binance Coin [BNB], registered more gains compared to DOT. A possible reason for this could be the recent MixBytes episode, wherein it was announced that the blockchain auditor would stop supporting Lido on Polkadot and Kusama.
Recent Developments In The Polkadot Ecosystem
Several developments happened in the Polkadot ecosystem in the recent past, which can drive further growth of the network. For instance, Polkadot’s NFT ecosystem had an interesting update: Polkadot parachain Unique Network minted proof-of-attendance NFTs for fashion label DUNDAS to release to guests attending its show at Paris fashion week. In addition to that, SuperHedge, a DeFi platform, revealed that it had chosen Moonbeam to launch its testnet; Moonbeam’s cross-chain connectivity feature will enable SuperHedge to connect and interact with different chains including Polkadot and EVM.
Can DOT Live Up To Expectations?
Can DOT live up to expectations? Choosing the right #Layer1 ecosystem for a #DeFi project involves considering various factors such as scalability, security & governance features & interoperability options available between different networks & dApps — all of which are offered by POLKADOT!
Conclusion
Despite some setbacks like MixBytes suspending services due to market conditions or capacity issues, multiple developments have taken place with regard to NTF integration and SuperHedge choosing Moonbeam for its testnet; given these factors along with strong Altrank ratings – it appears likely that DOT may gain further traction in times ahead!