Binance's support of Polkadot's USDT integration has yielded positive results. Despite this, activity on the Polkadot network continues to decline.
However, despite this encouraging development, Polkadot has faced challenges in terms of daily activity and revenue. Data from Token Terminal revealed a significant 55% decline in daily active users on the Polkadot network over the past 30 days. The revenue generated by Polkadot also experienced a notable decrease of 24.9% during the same period.The social landscape has not been favorable for Polkadot either. Social mentions related to Polkadot declined by 39.
Furthermore, sentiment around Polkadot has taken a negative turn. According to Santiment’s data, the weighted sentiment surrounding Polkadot has experienced a significant decline over the past month, indicating increased skepticism about its future prospects.Despite these challenges, stakers continue to show interest in Polkadot. Data from Staking Rewards indicates that the number of stakers on the Polkadot network has grown by 4.
Despite recent challenges, Binance’s support of Polkadot’s USDT integration offers a glimmer of hope for the protocol, as it seeks to strengthen its position and compete more effectively within the cryptocurrency landscape.
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