Here's how DOT got SOL-d out.... but perhaps in a good way
2022-2023
At the time of writing, the cryptocurrency’s market cap was $7.20 billion and Solana’s was $6.87 billion. One of the reasons for Polkadot outcompeting Solana could be the increasing sell pressure that Solana’s holders have been facing lately. This sell pressure could have been triggered by the crypto-market’s concerns that Alameda may sell huge $SOL and other tokens in the Solana ecosystem.
Another reason for Polkadot’s growth could be the spike in its development activity, when compared to Solana. As can be seen observed, over the past 3 months, the network’s development activity was higher than that of Solana for the most part. This could be one of the reasons why Polkadot managed to perform better. An increasing development activity suggests developers at Polkadot have been making an increasing number of contributions to Polkadot’s GitHub. Ergo, what can be inferred is that they have been making efforts to make new updates and upgrades consistently.
The revenue earned by Polkadot’s stakers increased as well and the total reward rate for earning revenue by staking $DOT was 14.05%, at press time. This figure was much higher, when compared to Solana, whichAnother positive for Polkadot has been the spike in its number of active accounts. This pointed to a growth in activity on the Polkadot network over the last few days.
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