polka dot [DOT] It is beginning to emerge as a “greener” first layer blockchain as recent data reveal. As we know, Ethereum [ETH] It moves from Proof of Work to an environmentally friendly Proof of Stake mechanism.
Despite this shift, Polkadot will continue to dominate the energy consumption metrics in the blockchain. according to Polka Dot InsiderThe network is driving other L1s such as Avalanche, Solana and Cardano at 0.1 GWh.
It’s only matched by Tezos who still lags behind in Polkadot’s scalability.
Polkadot Insider also posted one tweet About the best projects in the network. This was calculated using the Galaxy Score, which evaluates the overall health and quality of the projects’ token.
According to the update, ChainX took the top spot in Polkadot’s rankings with an index value of 59. It was followed by Moonbeam at 58 and TribeOne at 57.
The same platform also talks about the most traded coins on Polkadot in the last 24 hours. The Modernization It claims LINK was the most trader friendly token with a volume of $254.7 million at the time of writing.
Polkadot’s $242.7 million DOT token followed suit. In third place is the MXC token with a distant trading volume of $27.8 million.
Now what does dot?
According to CoinMarketCap, DOT recently showed that it is promising more than 3% weekly gains. It was trading at $7.26 at the time of writing, which was also helped by a 30% increase in trading volume over the past 24 hours.
Despite this recent increase, trading activity has fallen sharply in recent months. As we can see in the chart below, the situation is evident in the past three months.
sad little point
There is a short term promise for Polkadot traders now as the daily chart is also showing bullish activity on the network. However, tough market conditions continue to hinder progress in the cryptocurrency market. DOT activity will be a critical factor going forward for the future development of the network.