Home
News
- 1 Polkadot is showing its potential of web3 to fuel innovation across a wide range of use cases.
- 2 The price of Polkadot (DOT) is bullish by giving 47.80% upsurge in its year-to-date analysis.
One of the leaders in web3 space, Polkadot (DOT), is following the right path on the road of its project development. Polkadot ecosystem now became the home for a total of 82 parachains. And after web3, the parachains of Polkadot ecosystem “is now buzzing with activity across decentralized finance (DeFi), smart contracts, social media, decentralized identity, internet of Thing (IoT), gaming, the metaverse, sustainability, and much more.”
Here are the glimpses of Polkadot and its parachains developments in the last month.
Polkadot ecosystem rewind February 2023
Last month Polkadot started its journey with many team-ups and developments on its network. As from the beginning of February, Polkadot announced that its parachain, Astar Network, joined hands with one of the world’s leading car manufacturing firms— Toyota Motor Corp, for exploring new web3 use cases.
Then, Polkadot came with cross-chain swap as “Stella Swap, Squid router, and Axelar core joined forces to bring cross-chain interoperability to the Moonbeam Network ecosystem and its users. This opens new cross-chain functionalities & brings superior user experiences to dapps building on Moonbeam.”
Similarly, so many other developments on the Polkadot network took place in the previous month. Moreover, Messari— the leading crypto market intelligence platform, shared a report into Polkadot. That states “among many other data points, Messari crypto report reveals daily active accounts increased by 64% and new accounts increased by 49% in Q4 2022.”
Additionally, Polkadot made the announcement of “ETHDenver 2023,” which is scheduled from March 2nd-5th. And during ETHDenver one can learn about the groundbreaking technology being built on Polkadot.
Polkadot also shared that since the launch of its staking dashboard and nomination pools, staking participation has skyrocketed on Polkadot which is witnessing 1500 new users every month.
Ahead in time, Polkadot shared about the partnership of Sony Network Communications with its parachain Astar Network. This partnership launched the Web3 Incubation Program to help develop top-tier web3 projects.
And after the successful “BUIDLing the Multichain” summit, ETHDenver 2023 is finally opened. Thus for 4 days from today, one can meet with 16 ecosystem teams all eager to explain to the web3 crowd how they’re shaping a multichain feature.
Polkadot (DOT) price analysis
Polkadot is, no doubt, an active network in the crypto industry. Furthermore, its native coin DOT is also marking an upsurge of 2.91% in its price in one month. However, at press time, DOT is trading at $6.37 with a decline of 2.60% in its price. The coin gave its one month high at the trading price of $7.83, which is also its 90-days high. While its one month low is at $5.92.
The power of parachains on the Polkadot ecosystem made it quite strong in the web3 industry. And in the upcoming months, it will continue the development on its network.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading stocks or crypto comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
