polka dot [DOT]: Network Q3 evaluation of your next trade

polka dot [DOT]The blockchain is designed to unify and secure a growing ecosystem of specialized blockchains known as parachains, and has published a new roadmap containing a series of significant upgrades to be implemented on the network.

As shown in the roadmap, its Parachin Consensus Protocol will receive its first major upgrade since the launch and implementation of the Parachin pay-as-you-go. In addition, a third major upgrade will be implemented on Polkadot’s consensus messaging format, and more.

polka in Q3

Cryptocurrency research platform Messari, in a new report, evaluates Polkadot’s performance in the third quarter of 2022. Titled “State of Polkadot Q3 2022,” Messari found that the network experienced some declines in key ecosystem stats while its core metrics such as validation The numbers from the candidates and the percentage of the total bid being wagered remained constant over a 90-day period.

First, financially speaking, the overall downtrend thus far has affected Polkadot’s revenue. The network finished the first quarter of 2022 with total revenue of $277,007, and ended the second quarter with a 21.4% decline in revenue.

Massari noted the continued decline in revenue in the third quarter as Polkadot saw a 47% drop in its revenue. According to the report, the total revenue from the network during the three-month period was $115,326.

Aside from declining revenue, active titles on Polkadot fell sharply between July and September. With only 139,419 active accounts on Polkadot in the third quarter, this was a 40% decrease in active accounts on the network.

Source: messari

Key ecosystem metrics such as revenue and active accounts on Polkadot are included in the period under review. In addition, Messari found that the network’s basic metrics, such as the number of validators, the number of filters, and the percentage of total supply inventory, were “stable” over the 90-day period.

The number of validators on the network has remained flat since the first quarter. According to the report, this number has remained at 297 since the beginning of the year. Regarding the risks to these auditors, Messari found that โ€œ292 of 297 (98%) auditors have 1.8-3.4 million DOT hostage.โ€

Source: messari

In addition, Messari found that the share of the overall supply of DOT that has been invested in the network has been flat since the beginning of the year.

According to the report, the supply of DOTs spread over the three quarters ranged between 54% and 59% of the total supply of DOT. The network ended the third quarter with a total deposit of 1.24 billion DOT in it.

Source: messari

A look at the ‘POINT’ lines in Q3

While the July rally in the cryptocurrency market saw the DOT price reach $9.51 on August 11, a subsequent price correction drove the DOT price lower. Data from CoinMarketcap showed that it closed the third quarter at a price index of $6.20, lower than the $7.0 it started with.

Source: CoinMarketcap

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