On July 13, 2023, Polkadot, the blockspace ecosystem, shared a Tweet about its second quarter (Q2) 2023 update. In its Tweet, it added that in the past 3-months from April to June 2023. The network was packed with big enterprise announcements and native Web3 adoption on an unprecedented scale within its network. There are some of the Q2 2023 highlights, which are discussed below.
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There has never been a quarter like it!The 3 months from April to June 2023 were packed with big enterprise announcements and native Web3 adoption on an unprecedented scale within the Polkadot network.
Here are some of the highlights: pic.twitter.com/obhmiSy5gk
— Polkadot (@Polkadot) July 13, 2023
Polkadot’s April to June 2023 Update
In the initial Twitter thread, the ecosystem mentioned that it was the “top Web3 protocol measured by development activity through the quarter, just as it had been in Q1.” It further added about “another impressive rise in unique accounts, with almost 4 Million across the ecosystem, as seen in the below chart.
Play Mythical, Deloitte, Vodafone, OpenZeppelin, Energy WebX, Heathrow Airport were some of the big names revealing links with the blockspace ecosystem. Whereas, the biggest Polkadot event of the year, Polkadot Decoded, was “the go-to place to hear how some of these new partnerships will take shape.”
On July 10, 2023, Messari, the leading crypto data aggregator and research platform, published its State of Polkadot quarterly report. The report highlights how the June 15, 2023, launches of OpenGov and XCM v3 “hold immense potential to add value to the network in the upcoming quarters.”
The Gaming Progress
The blockspace ecosystem was also added in gaming news as a dark-fantasy game, EVRL00T revealed its new game Stardust Colonies. It would be built on Ajuna Network, a decentralized gaming platform. Also, a new cross-chain multi-platform game Mandala Metaverse selected Astar Network, a Japanese smart contract platform, for its NFT drop.
The DeFi Progress
Moving towards the Decentralized Finance (DeFi) news, Uniswap, the popular Decentralized Exchange (DEX), would come to the blockspace ecosystem via Moonbeam Network, which is a smart contract platform. The Tweet also highlighted “the winner of parachain auction 42 was “Moonsama NFT.” Meanwhile, “Acala Network & Moonbeam won the next two slots with the intention of renewing their leases for an additional two-year period.”
In the next Twitter thread, the blockspace ecosystem has added “Web3 Foundation issued 36 new grants.” Whereas its Chief Legal Officer (CLO), Daniel Schoenberger, was “invited to testify on digital asset regulation before the U.S. House of Representatives. Not only this, a new content production with Primavera Pro, a global meeting point for the music world, was also announced.
In its last Twitter thread, Astar Network unveiled details about Astar 2.0, which will be “an upgrade aimed at improving governance, staking, and infrastructure.” Meanwhile, its developer Startale Labs, benefited from a $3.5 Million investment from electronics giant Sony, late in June 2023.
DOT Price Analysis from April to June 2023
According to CoinMarketCap (CMC), a cryptocurrency price tracking site, Polkadot’s native DOT token price at press time is trading at $5.49. It has a 24-hour trading volume of $179.41 Million, with a current market cap of $6.61 Billion. It is down 2.52% in the last 24 hours, whereas its current CMC ranking is 13.
As seen in the above 3-months price chart, DOT price showing a bearish trend. As from trading nearly at $6.31, DOT dropped to its current trading price that shows almost 13% of decline. As the global crypto market cap showed over 2% of decline over the last day, most of the cryptocurrencies also showed bearish market trend including DOT.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock 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/2023/07/15/polkadot-q2-23-update-an-unprecedented-scaling-of-network/