Santiment, a market intelligence platform, recently shared a tweet in which it noted about the top 10 crypto asset development activity, in the past 30 days.
It must be noted here that the amount of development activity happening in the blockchain ecosystem can show that people are optimistic about the future of these blockchains, as Santiment stated.
According to Santiment, “GitHub activity is an interesting metric when analyzing initial coin offerings and crypto projects. Developers’ time is a relatively expensive resource and if a given project has a lot of developers dedicating their time and skills it could mean several things: These people believe that the project will be successful, the project is shipping more features, and there is less probability the project is just an exit scam.”
Santiment also sees the connection between US Dollar Coin (USDC) and the price movement of Bitcoin (BTC). An analytics firm says USDC holdings decline as BTC prices increase, indicating money shifts from USDC to BTC.
Polkadot price analysis
Polkadot is a next-generation blockchain network as it is the most respected Internet of blockchain. The blockchain allows different blockchains to communicate and interact with each other.
At press time, Polkadot ($DOT) is trading at $7.24 with a 24-hour trading volume of $371.583 Million. Polkadot is up 0.70% in the last 24 hours. DOT has noted 9% of increase in one week. The coin noted year to date increase of almost 67%, according to data sourced from tradingview.
Polkadot staking
Since the launch of the Polkadot Staking Dashboard and nomination pools, the participation in native staking has skyrocketed, according to Polkadot. These additions transformed how to stake on Polkadot. Thus “DOT holders no longer have to rely on third-party, centralized staking service. Instead, the holders can use a decentralized, non-custodial, and intuitive staking platform.”
Moreover, nomination pools offer on-chain pooling of staked DOT, lowering the minimum staking amount to 1 DOT, while the users remain in full control of their assets and keys.
Polkadot further added that “the community quickly recognized the benefits of staking their tokens natively via direct staking and within pools, with approximately 45,000 users staking close to half of all DOT tokens in circulation this way. From the beginning, an incentive program launched to secure a good selection of high-quality nomination pools was created.”
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/02/23/polkadot-topped-list-of-top-10-crypto-asset-development-activity/