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What’s behind Polkadot’s [DOT] rising development activity? Looking into…

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2 years ago

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Source: Unsplash

  • Polkadot has been ranking high in terms of development activities.
  • The combination of chains and dApps in the ecosystem might be a contributor.

Compared to chains like Ethereum [ETH], Polkadot’s [DOT] rate of development activity remained high over the last week. While this may not imply much on its own, it may provide insight into the future of both DOT and the Polkadot, when combined with other indicators.

How much are 1,10,100 DOTs worth today?

Polkadot leads in dev activity

As per a 19 March post by Proof of GitHub, Polkadot had the highest developmental activity out of its competitors. Looking back at the previous days, Polkadot

was also at the forefront of development activity.

Moreover, there was an increase in Polkadot’s development activity on 18 March, according to Santiment. As of this writing, the development activity metric rose beyond 100, marking its highest level in four months. There was a symmetry between the press time level on Santiment and GitHub.

Source: Santiment

Understanding Polkadot’s high-dev activity

Examining Polkadot’s ecosystem may shed light on the phenomenon of persistently high levels of development activity. Like its test network Kusama, Polkadot features numerous chains

inside its infrastructure, which host a wide variety of decentralized applications (dApps).

The total development activity in the ecosystem can be increased by adding all the commits made by developers across all the chains and dApps. Yet, the developers are constantly improving the network, which reflects positively on the developer count.

A high development activity may indicate that the project is actively seeking new ways to innovate and enhance, which may improve its prospects for long-term success. A strong team of developers and contributors dedicated to the project’s success can also be indicated by a project’s high level of development activity.

Observing DOT’s price and volume trend

Source: TradingView

Development activity on Polkadot has been on the rise, but the cryptocurrency’s price hasn’t fared as well. However, as of this writing, it had gained over 3% and was trading roughly at $6.5. According to the daily timeframe chart, it was now on a slight uptick after several weeks of downturn.

Source: Santiment

Realistic or not, here’s DOT market cap in BTC’s terms

The DOT volume also indicated that there had been little action. The volume was above 275 million as of the time of writing, with no apparent surges.

Despite the market downturn, developers still seem eager to ship in the Polkadot ecosystem. If the projects reach a critical mass, DOT and other tokens in the ecosystem may gain momentum when the bull market gets underway.

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