On a recent X post by the official Polkadot account, they shared July metrics for the platform which, all-in-all, showed great growth last month.The platform saw a 1.1k increase in unique voters on the governance side, with over 118 referenda on the platform. Great weekend read → July ’24: Key network metrics & insights At a glace, Polkadot had: 🔹 ATH for number of OpenGov refs 🔹 Weekly GitHub commits on the rise 🔹 Steady forum activity & new users See details + get a special look at the Polkadot App 👀 — Polkadot (@Polkadot) August 16, 2024 Polkadot also hosts a very active developer base, amassing over 5.5k weekly commits done on its GitHub repository with more than 29.9k repositories.
This represents a large setback for investors and traders which compounded the overall sentiment of skepticism within the community. Related Reading: Despite A Stormy Market, Dogecoin Addresses Skyrocket To Over 6 Million With the community distrustful of the platform, investors are traders will see this as a sign of poor governance on Polkadot. In the meantime, DOT bulls should try to slow the token’s downward momentum in the coming days or weeks.
With the bears in control of the market, Polkadot’s short-term gains might be compromised. Related Reading: Cosmos Price Analysis: Why This Analyst Says ATOM Has A Great Chart’ Despite showing that Polkadot can still pack a punch, users are still skeptical of the platform’s viability and DOT’s capability to move upward in the coming days.
The story "Polkadot (DOT) Investor Confidence Falls As Token Loses 16%" has 461 words across 66 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "Polkadot (DOT) Investor Confidence Falls As Token Loses 16%" was covered 11 hours ago by NewsBTC, a news publisher based in United Kingdom.
How trustworthy is 'NewsBTC' news outlet?
NewsBTC is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United Kingdom and publishes an average of 7 news stories per day.
It's most recent story was published 13 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
