Polkadot is the middle of improvement, but it surely can be an funding – AMBCrypto Information

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According to Electric Capital’s report, Polkadot is currently the second largest ecosystem to see development in the chain after Ethereum. This is not surprising as Polkadot is known to have significantly higher development activity compared to other large altcoins.

Polkadot has the second highest developers after Ethereum | Source: Electric Capital

Although Solana became a DeFi attraction earlier this year due to the NFT hype, Polkadot still has it behind when it comes to the total number of developers Polkadot leads after Ethereum with around 1k – 2k developers.

Polkadot currently has over 1000 developers | Source: Electric Capital

Plus, everyone is familiar with the Polkadot parachains and the subsequent auctions that recently ended. In fact, Moonbeam, the first Parachain auction winner, will complete its second phase of launch on Polkadot within a few days. When this is done, the network will activate the EVM for its users.

But before the Moonbeam launch could be completed, Polkadot had already started its second auction round. Now that Efinity has won the sixth slot, Composable Finance wants to take the win for the seventh slot.

This is proof that Polkadot will continue to attract more and more developers and could even become a top-notch DeFi hub in the future.

Now it can be said that the network can certainly attract developers.

But can polkadot also …

Attract more investors? Because higher investors would be instrumental in helping the network grow. Well, the answer is – unfortunately not at the moment.

Due to the general bear market in the market, DOT is also floating far from its ATH. It has even lost more than 17.35% in the last three days.

But the downside move isn’t canon for the altcoin as the strength of its downtrend is pretty weak at the moment. Although the MACD indicates the possibility of a bearish divergence, it can only be confirmed within the next 72 hours.

Polkadot price promotion | Source: TradingView – AMBCrypto

At the moment, recovery is the only hope. DOT needs to attract new investors as the people themselves are not interested in investing in the asset. It can be seen by the fact that her mood is at its worst in seven months.

Polkadot Investor Sentiment | Source: Santiment – AMBCrypto

However, since the risk-adjusted returns for DOT are currently negative, it is best to keep an eye out for a few green candles before jumping in.


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