Polkadot is showing promising indicators that can attract more investors to this ecosystem and its products. A price surge happened in the past months, and DOT price went high from about $10 in July to the current trading price of about $41.
The data from other charts show that the blockchain is capable of attracting more investors, and the price may go even higher. Some FOMO and some interesting products may be able to attract more buyers and help DOT go even higher. It can help other tokens of this ecosystem like KSM as well.
Another Promising Alternative
Polkadot is among the most popular blockchains showing promising capabilities to become a powerful alternative to blockchains like Ethereum. It can be considered as a freeway that connects blockchains.
The parachain concept in this network is very interesting and can solve many of the challenges we have in the blockchain industry.
The canary blockchain of Kusama is another promising network in this ecosystem that has been very successful in attracting developers and even end-users. All of these features and potentials result in a price surge for DOT and other ecosystem tokens, too.
The latest data about DOT shows the token and the blockchain are in a good situation. The latest price surge may even continue and move the price of DOT even higher. The latest analysis by Santiment shows the developer activity is increasing on this blockchain that can be another impactful factor to the blockchain.
#Polkadot had a temporary price surge that was enough to grab traders' attention. We're seeing an influx of #bullish calls in our data. Additionally, we see here that development activity for $DOT has increased quite notably as time has progressed. 🧑💻 https://t.co/UZPdaVS6ju pic.twitter.com/9ak3H65yni
— Santiment (@santimentfeed) October 15, 2021
“#Polkadot had a temporary price surge that was enough to grab traders’ attention. We’re seeing an influx of #bullish calls in our data. Additionally, we see here that development activity for $DOT has increased quite notably as time has progressed.”
Developer activity is among the top factors that can affect the blockchain very well. When more developers are coming to a blockchain and offering products on that, more end users may join the community and use the native tokens as well. DOT, KSM, and other tokens of the Polkadot ecosystem benefit from this movement. The charts always show that an increase in the development activity can result in a price surge for a token. It seems happening for Polkadot and may continue.
There are other factors in the market that affect the price of a token. Blockchains like Polkadot that have a growing community can experience the rise and falls easily. But this blockchain has shown its capabilities with numerous products and concepts, and we can expect it to grow more and faster in the coming months.