- Polkadot’s environmental friendliness can have a positive effect on feel.
- Future developments and the growing number of players could also attract interest.
According to new information from PolkadotInsider, Polkadot [DOT] They consume the least amount of electricity compared to other cryptocurrencies in the market. This environmental friendliness could positively influence Polkadot and the sentiment surrounding the cryptocurrency.
Polkadot – Eco-friendly blockchain
Thanks to CCRI’s 2022 Report, we’ve found @thedotted It ranked second after the American household in terms of total annual electricity consumption
Let’s see more details below 👇#the point POINT$ #AVAX #ALGO #BTC #ETH #Solar #ADA pic.twitter.com/S5WxxvJSA0
– PolkadotInsider (@PolkadotInsider) January 25, 2023
What is the value of 1,10,100 pips today?
The mood has not changed
However, according to data from Santiment, the weighted sentiment around Polkadot has remained negative over the past month. However, Polkadot’s lack of energy use could play a role in changing public sentiment around cryptocurrency and moving it in a positive direction.
Source: feeling
Polkadot’s growing number of social signals and engagement could have a positive impact on the cryptocurrency. In the past week, social mentions have increased by 19%. In addition, participation in Polkadot increased by 23.9% over the same period.
This could indicate that more people are talking about Polkadot and dealing with the cryptocurrency, which could lead to increased adoption and interest in the DOT.
There have also been several upcoming referendums that may affect the network. the new polls You will deal with governance and uptime upgrades, which can make cryptocurrency more attractive to investors. In addition, the increasing number of players on Polkadot, which has grown by 5.9% in the last 30 days, may also indicate a positive impact on the cryptocurrency.
Source: Staking Rewards
Polkadot sees an increase in conversions
In addition, Polkadot’s daily transfer amount has also seen an exponential increase, according to data from SubScan. The number of transfers increased from 9.5 million to 58.4 million last week. This may indicate that more people are actively using and transmitting DOT.
Source: Subscan
Realistic or not, this is the DOT market cap in BTC terms
However, despite this positive development, the token’s market cap dominance has decreased over the past month and volatility has increased by 2.76%. This may indicate that investor sentiment around Polkadot was uncertain at the time of writing and that the future performance of the cryptocurrency was not guaranteed.
Source: Messari
This latest development, while positive, may not be enough to see Polkadot green in the short term, but it could have a positive effect on the cryptocurrency in the long term.
The price of DOT was at $6.18 at the time of writing, and is down by 5.51% in the past 24 hours, according to CoinMarketCap.