Blockchain News

DOT Investors can be in a State of Frenzy Despite Polkadot’s Latest Achievements

Polkadot [DOT] made headlines once more after climbing to the top of this list of cryptocurrencies with the highest Nakamoto Coefficient measure. The Nakamoto Coefficient indicates the number of validators (nodes) required to successfully slow down or prohibit any given blockchain from functioning as planned.

The greater the Nakamoto Coefficient in respect to the total number of validators, the less probable collusion will disrupt a decentralised blockchain. Aside from DOT, Avalanche [AVAX] and Solana [SOL] ranked first and third, respectively.

Polkadot nomination pools, in addition to the previously provided information, reached another milestone barely two months after its inception. Pool members, according to the official tweet, have connected over 1,000,000 DOT.

To put it another way, Polkadot nomination pools make it easier to stake natively by decreasing the barrier to receiving rewards to as little as 1 DOT and efficiently balancing the interests of smaller and larger DOT holders.

Despite these upgrades, DOT prefers to remain out of the spotlight, particularly on the price front. DOT failed to generate considerable interest in the futures market when its DyDx financing rate fell on January 15th.

On 14 January, Polkadot topped the list of cryptocurrencies in terms of social activity. However, Santiment’s graphic revealed the inverse, with DOT’s social dominance decreasing during the last week.

CryptoQuant reported another significant bearish signal, indicating that DOT’s Relative Strength Index (RSI) was oversold. This may cause DOT’s price to fall in the following days.

The daily chart of DOT likewise displayed a gloomy picture, increasing the likelihood of a price decrease. The Money Flow Index (MFI) was overbought, indicating a bearish trend.

Furthermore, the Chaikin Money Flow (CMF) decreased, raising the likelihood of a price drop. Despite this, the Moving Average Convergence Divergence (MACD) favoured the bulls.


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