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Polkadot [DOT] traders might have a holly jolly new year because…



Polkadot [DOT] traders might have a holly jolly new year because...
Source: StockAI

  • Polkadot achieved quite a few milestones last year.
  • The year 2023 also looks promising for DOT.

Polkadot [DOT] recently tweeted about its yearly roundup mentioning all the notable developments that happened in its ecosystem in 2022.

The tweet talked about several achievements. For instance, DOT had more than 74 parachains, over 300 dapps, 550+ projects, and 2,500 monthly active developers across the ecosystem.

This reflected the popularity and reliability of the network. Moreover, over 350,000 XCM transfers were sent by the Polkadot ecosystem, ushering in a new age of safe cross-chain interoperability and taking a significant step toward bringing the wonder of secure cross-consensus bridging to the rest of the world.

Read Polkadot’s [DOT] PricePrediction 2023-24

How was 2022?

Despite the bearish market, DOT’s last year looked pretty good in terms of what was happening in the ecosystem. DOT has managed to remain one of the top blockchains for its development activity.

Over the last three months, DOT’s metrics also showed some interesting movements. For example, its development activity has recently decreased.

Furthermore, after a sharp decrease in November, DOT’s Binance funding rate went up consistently, which proved its demand in the derivatives market. The crypto community also talked about DOT with utmost excitement as evidenced by its social dominance increase.

Source: Santiment

How many DOTs can you get for $1?

This can be expected

A few of the market indicators were also supportive of a price hike this year. The relative strength index was hovering near the oversold zone. DOT’s Money Flow Index also registered an uptick, which looked promising for the network.

Nonetheless, the Exponential Moving Average (EMA) Ribbon was bearish as the 20-day EMA was resting below the 55-day EMA. The Chaikin Money Flow (CMF) also went down, which might be troublesome.

Source: TradingView

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Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot's writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S - There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/

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