What ‘busy’ Polkadot’s latest efforts mean for DOT investors

It has been relatively difficult for the market to focus on developments in the crypto-space, rather than on price speculation. However, this has not hindered networks such as Polkadot from charging full speed ahead, towards their WEB3 vision. In fact, a recent update highlighted a busy period for the network so, here’s what we can […]

Now, it is unclear whether higher volumes are directly linked to the parachain lease auctions announcement. The underlying mechanism calls for projects competing for parachain slots to hold a considerable amount of DOT to have a decent chance at winning the parachains.DOT registered an uptick of >9% this week. This upside resulted in a retest of its short-term resistance line near the $9-price level.

A bearish pullback can be expected after the resistance retest. Aside from low bearish pressure, DOT’s weighted sentiment pointed to the likelihood of more upside. In fact, the slight pullback had already pushed the weighted sentiment back into negative territory at press time.Furthermore, Polkadot’s developer activity contributors count has increased notably since the start of August. This has been in line with DOT’s planned developments for the month.

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