- Polkadot Insider’s tweet revealed a number of new developments that took on the blockchain’s ecosystem
- Market indicators remained bearish on DOT, suggesting an additional value drop
Polkadot [DOT] registered a decline in a key metric within the final seven days, which was considerably regarding. Not solely that, however community exercise additionally declined marginally final week. Regardless of the decline, the blockchain’s worth gained upward momentum.
Moreover, a number of new developments passed off within the Polkadot ecosystem over the previous couple of days, which may also help change the declining metrics in DOT’s favor. Its native token, nonetheless, continued to face the wrath of bears like most different cryptos.
Learn Polkadot’s [DOT] Worth Prediction 2023-24
Nothing to rejoice…
Token Terminal’s knowledge revealed that the blockchain registered a decline in its income during the last seven days. A decline in income isn’t simply unfavorable for the blockchain but additionally considerably suggests much less utilization. Moreover, Polkadot’s community exercise additionally declined marginally, as evident from the slight downturn in its each day lively addresses.
![](https://statics.ambcrypto.com/wp-content/uploads/2023/07/Totken-Terminal-.jpg)
Supply: Token Terminal
It was attention-grabbing to notice that although the blockchain’s income and lively addresses declined, the community’s worth saved rising. As per DeFiLlama’s data, Polkadot’s TVL has been on the rise for a number of months. This appeared fairly optimistic for the blockchain’s future.
Although just a few key metrics dwindled, a number of new developments within the DOT ecosystem over the previous couple of days may also help change the numbers in Polkadot’s favor. Polkadot Insider, a preferred Twitter deal with that posts updates associated to the blockchain’s ecosystem, just lately posted a tweet highlighting these updates.
A couple of of the notable developments included Polkadot’s parachain, Phala Community asserting that Sygma Bridge has efficiently built-in into SubBridge. Subspace Community additionally launched the Gemini III Non-Incentivized Testnet.
The #Polkadot and #Kusama ecosystems are rising impressively with nice information each day ????️#PolkadotInsider is happy to convey you the recap of spotlight occasions within the @Polkadot and @kusamanetwork ecosystems within the final 72hrs ????
Test it out ????????#DOT #KSM pic.twitter.com/nU06XujLUC
— Polkadot Insider (@PolkadotInsider) July 9, 2023
Not solely that however developments had been additionally seen on the NFT entrance. As per the tweet, Spacers NFT introduced the opening of all Spacer Pods. All of those updates may present their influence on Polkadot’s key metrics within the days to observe.
Lifelike or not, right here’s DOT market cap in BTC‘s phrases
DOT underneath assault
Whereas just a few of DOT’s key stats declined, the identical remained true for the token’s value motion. As per CoinMarketCap, DOT’s value declined by greater than 7% within the final seven days. On the time of writing, DOT was buying and selling at $5.07 with a market capitalization of over $6.3 billion, making it the thirteenth largest crypto.
A have a look at Polkadot’s each day chart recommended that the worth decline would possibly proceed. The space between the 20-day Exponential Transferring Common (EMA) Ribbon and the 55-day EMA was declining, growing the possibilities of a bearish crossover.
Moreover, DOT’s Chaikin Cash Movement (CMF) registered a downtick. Moreover, its Relative Power Index (RSI) took a sideways path, additional suggesting that the token’s value would possibly decline.
![](https://statics.ambcrypto.com/wp-content/uploads/2023/07/DOTUSDT_2023-07-10_16-47-48.png)
Supply: TradingView