- \n
- Polkadot out-competed major cryptocurrencies in terms of ecosystem and development activity.<\/span><\/em><\/li>\n
- However, DOT flew under the radar as social mentions and engagements declined.<\/span><\/em><\/li>\n<\/ul>\n
A tweet on 8 December revealed that<\/span>\u00a0<\/span>Polkadot<\/span><\/a> out-competed other networks in terms of ecosystem expansion and development activity. This growth, however, did not translate to the social front as engagements and sentiment for <\/span>Polkadot<\/span><\/a> declined.<\/span><\/p>\n
\nRead <\/span>Polkadot\u2019s [DOT] Price Prediction<\/span><\/a>\u00a02023-24<\/span><\/p>\n
\nPolkadot<\/span><\/a> ranked second after Ethereum in terms of sub-ecosystems and development activity. Interestingly, it ranked above other prominent cryptocurrencies such as Cosmos, Solana, and Cardano.\u00a0<\/span><\/p>\n
\n
So @Polkadot<\/a> is 2nd only to @ethereum<\/a> in terms of sub-ecosystems, repos, and weekly commits by developers (according to @Artemis__xyz<\/a>), but is perhaps least discussed amongst the major smart-contract protocols: thoughts on the reasons for this? https:\/\/t.co\/KYcleosH60<\/a> pic.twitter.com\/yLTwGL1QoJ<\/a><\/p>\n
\u2014 Chris Burniske (@cburniske) December 8, 2022<\/a><\/p>\n<\/blockquote>\n
\u00a0<\/p>\n
Competing in the big leagues<\/b><\/h3>\n
One indicator of this growth was the increase in XCM transfers on the network.<\/span><\/p>\n
According to <\/span>Polkadot Insider<\/span>, there were over 500k transactions made on the Moonbeam Parachain. Other parachains, such as <\/span>ParallelFI and AcalaNetwork,<\/span> witnessed growth as well.<\/span><\/p>\n
\n
Let’s take a look at the usage network state of top #Polkadot<\/a> chains ranked by XCM transfers over the past 7D<\/p>\n
The top 3 most-used parachains are:
🥇 @MoonbeamNetwork<\/a>
🥈 @ParallelFi<\/a>
🥉 @AcalaNetwork<\/a> <\/p>\nFor further details, let’s check out our graphic below 👇#DOT<\/a> $DOT<\/a> pic.twitter.com\/fCEHOyY3BW<\/a><\/p>\n
\u2014 Polkadot Insider (@PolkadotInsider) December 9, 2022<\/a><\/p>\n<\/blockquote>\n
Polkadot under the radar<\/b><\/h3>\n
Despite the growth of these parachains on Polkadot, there was not much activity for the network on the social front. According to <\/span>LunarCrush<\/span><\/a>. Polkadot\u2019s social engagements and social mentions fell massively over the last week. <\/span><\/p>\n
At the time of writing, its social mentions had declined by 26.1% and its social engagements dwindled by 9.9%.<\/span><\/p>\n
The sentiment towards Polkadot remained negative throughout the month apart <\/span>from a spike towards the end of November.\u00a0<\/span><\/p>\n
![\"\"](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Polkadot-DOT-15.15.23-09-Dec-2022.png\")
<\/a><\/p>\nSource: Santiment<\/p>\n<\/div>\n
This declining sentiment could be a reason why Polkadot\u2019s prices and NFTs on various chains did not see <\/span>much growth<\/span><\/a>.<\/p>\n
Even so, despite the declining sentiment and prices, stakers continued to show support for the cryptocurrency. From the image below, it can be observed that there was a massive surge in the number of stakers that appeared after 4 November.<\/span><\/p>\n
In the past 30 days, the number of stakers on the network grew by 9.54%. The total number of stakers present on the network was 24.2k, according to staking rewards.<\/span><\/p>\n
- However, DOT flew under the radar as social mentions and engagements declined.<\/span><\/em><\/li>\n<\/ul>\n
![\"\"](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Screenshot-2022-12-09-at-3.18.57-PM.png\")