Polkadot’s [DOT] good days are far from over, thanks to these metrics

• Polkadot was solely behind Polygon when it comes to income efficiency final week. 
• Metrics and market indicators supported the bulls.

Polkadot [DOT] lately made it to the headlines, not for its improvement exercise, however this time for income. It ranked second on the record of prime blockchains when it comes to income efficiency within the final seven days. The community nabbed the primary spot whereas Solana sat within the third spot on the record.  

#Polkadot was ranked #2 within the income efficiency compared to many different in style chains final 7D 😎

Apart from, under are the highest 10 chains with the most efficient income presentation, however solely 8 out of 10 are optimistic. Let’s have a look at nearer for particulars 👇@Polkadot #DOT $DOT pic.twitter.com/IsnnHKmRLx

— Polkadot Insider (@PolkadotInsider) January 13, 2023

Polkadot Insider additionally launched its on-chain information on 12 January, which revealed fairly just a few necessary stats concerning the ecosystem. As an illustration, the overall variety of finalized blocks reached 13.8 million, and whole transfers have been about to succeed in 10 million.

Furthermore, the variety of holders additionally crossed a million, which appeared optimistic for the blockchain. 

The on-chain information tells the reality, so at this time let’s take a look at the on-chain of prime tasks within the @Polkadot ecosystem.

It contains:
👉Finalized Block
👉Signed Extrinsic
🚴‍♀️Transfers
💪Holders
💰 Whole Insurance coverage

Extra element under 👇#Polkadot #DOT $DOT #ASTR #ACA #GLMR #PARALLEL pic.twitter.com/FQdJJu4LPI

— Polkadot Insider (@PolkadotInsider) January 12, 2023

Learn Polkadot’s [DOT] Worth Prediction 2023-24

A commendable efficiency 

DOT’s efficiency on the worth entrance was additionally in traders’ favor because it registered double-digit positive factors within the final week, because of the continued bullish market. CoinMarketCap’s information revealed that DOT’s value elevated by 13% over the last week, and on the time of writing, it was trading at $5.23 with a market capitalization of over $6 billion. 

A take a look at DOT’s on-chain metrics instructed that the worth hike didn’t occur simply due to the market situation, however that a number of components have been at play. DOT’s Binance funding price remained persistently excessive within the final seven days, reflecting its demand within the derivatives market. 

Optimistic sentiments round DOT additionally remained comparatively excessive final week, indicating the group’s belief in DOT. As per LunarCrush, DOT’s volatility elevated significantly, rising the probabilities of a continued uptrend within the days to comply with.

Supply: Santiment

Reasonable or not, right here’s DOT’s market cap in BTC’s phrases

What ought to Polkadot traders count on?

DOT’s market indicators gave a bullish notion, as most of them instructed that the uptrend will maintain itself within the coming days. The MACD revealed an enormous bullish higher hand available in the market. DOT’s Chaikin Cash Move (CMF) was additionally considerably above the impartial mark. 

In keeping with the Exponential Transferring Common (EMA) Ribbon, the 20-day EMA was quick approaching the 55-day EMA, rising the probabilities of a bullish crossover. Furthermore, the Bollinger Band revealed that DOT’s value entered a excessive volatility zone, additional rising the probabilities of a continued value surge.

Nevertheless, DOT’s Cash Move Index (MFI) was within the overbought zone, which is likely to be regarding for traders. 

Supply: TradingView