I've been on this crypto journey for quite some time now, and I've learned the hard way about the importance of discipline. Early on, I made impulsive decisions fueled by FOMO (fear of missing out) or panic selling during market dips. It wasn't until I committed to establishing strict rules and maintaining discipline that I…
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Polkadot, a blockchain platform designed for interoperability between different blockchains, is experiencing a surge in new users, but a disconnect between user growth and network activity is raising questions about its long-term viability. Related Reading: Don’t Miss The Boat! Ethereum Whales Signal Bullish Run With $40 Million Bet Based on the latest figures, DOT tallied an all-time high in active wallets and unique accounts in March, surpassing 600,000 and 5.59 million, respectively. This suggests a growing interest in the platform, potentially driven by the thriving developer ecosystem on Polkadot’s parachains, specialized blockchains that connect to the main Polkadot chain. Moonbeam, a prominent parachain, played a particularly significant role, contributing the highest number of active addresses with nearly 250,000. Source: Data Polkadot Transactions Dip Despite Active User Growth However, despite the influx of new users, the number of transactions on the Polkadot network hasn’t kept pace. While there was a modest increase in transactions compared to February, the current volume remains significantly lower than the peak recorded in December. This inconsistency raises concerns about how actively users are engaging with the network. The possibility exists that users are holding or staking their DOT tokens instead of utilizing them for transactions on the platform. Total crypto market cap is currently at $2.5 trillion. Chart: TradingView Polkadot Price Seeks Stability After Recent Decline The price of Polkadot’s native token, DOT, seems to be finding support around $9. This could indicate a period of consolidation after a decline from its previous highs above $11. While a price increase is typically seen as a positive sign, it’s important to consider it alongside actual network usage. Source: Data Is Polkadot Building Without Using? The current situation with Polkadot presents a paradox. The platform is attracting new users, but they aren’t necessarily translating into active network participants. This could be due to several factors. Perhaps users are waiting for a specific application or service to be built on Polkadot before actively engaging. It’s also possible that technical limitations are hindering user activity. Related Reading: SUI Slips After Hitting All-Time High: TVL Tumbles 12% – Token Price In The Gutter? Further analysis is needed to understand the reasons behind the lagging transactions. Examining the types of transactions occurring on the network could provide valuable insights. For instance, an increase in governance-related transactions might suggest a more engaged user base, even if overall transaction volume remains low. Polkadot’s Future Hinges On Active Network Use While the growth in active wallets and accounts is a positive sign for Polkadot, it’s crucial to convert this interest into actual network usage. The success of Moonbeam demonstrates the potential for a vibrant developer ecosystem on Polkadot. However, broader adoption across various use cases is necessary for the platform to reach its full potential. Featured image from Pexels, chart from TradingView
Sometimes I hear of a coin and research it, and it sounds really good from a technical point of view and I can see that it potentially provides a real use-case to justify its existence, but then I look in its sub and all I see is a circle-jerk of zealots desperately trying to convince…
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Teddy Fusaro, president of Bitwise, one of the crypto index fund managers, has praised the business model of Tether, the company behind the largest stablecoin in the crypto market. Fusaro emphasized that Tether obtained net income numbers close to the ones of traditional institutions such as Goldman Sachs and Morgan Stanley in 2023, with a […]
TL;DR Scamfluencers are trying a different approach to manipulate people into projects, with fake community take overs, but are not good at hiding it. Stay safe everybody! This post is a followup to my last few post here and my other posts on the Solana subreddit in which I try to raise awareness about scamfluencers…
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submitted by /u/vicanurim [link] [comments]
Why in the world would anyone investing in Grayscale sell all their bitcoins now when BTC is going up? I tried to look up the reasons for why Grayscale is selling so much btc but it just doesn't make sense. The reasons I found was: Grayscale is charging 1.5% management fees And A lot of…
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submitted by /u/johnnmichael007 [link] [comments]
submitted by /u/CryptoNerd_16 [link] [comments]
submitted by /u/hresniuy [link] [comments]
