{"id":299166,"date":"2023-03-22T00:00:32","date_gmt":"2023-03-21T18:30:32","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=299166"},"modified":"2023-03-21T18:19:26","modified_gmt":"2023-03-21T12:49:26","slug":"as-polkadot-dot-feels-bearish-pressure-development-activity-to-the-rescue","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/as-polkadot-dot-feels-bearish-pressure-development-activity-to-the-rescue\/","title":{"rendered":"As Polkadot [DOT] feels bearish pressure, development activity to the rescue?"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">Polkadot outperformed others in terms of development activity.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">However, metrics and market indicators remained in sellers\u2019 favor.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Polkadot [DOT]<\/span> <span style=\"font-weight: 400;\">outperformed its competitors in terms of development activity. On 21 March, popular Twitter account ProofofGitHub revealed that DOT topped the list of cryptos by daily development activity.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">GitHub Daily Development Activity: <\/p>\n<p>#1: 851 Polkadot \/ Kusama<br \/>#2: 686 Internet Computer<br \/>#3: 583 ChainLink<br \/>#4: 582 Hedera<br \/>#5: 493 Cosmos<br \/>#6: 479 Cardano<br \/>#7: 404 Status<br \/>#8: 389 Decentraland<br \/>#9: 331 Optimism<br \/>#10: 325 Ethereum <a href=\"https:\/\/t.co\/z5bmh4oj7W\">pic.twitter.com\/z5bmh4oj7W<\/a><\/p>\n<p>&mdash; ProofofGitHub (@ProofofGitHub) <a href=\"https:\/\/twitter.com\/ProofofGitHub\/status\/1638088103222026240?ref_src=twsrc%5Etfw\">March 21, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Read<\/span> <a href=\"http:\/\/ambcrypto.com\/predictions\/polkadot-price-prediction\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Polkadot\u2019s [DOT] Price Prediction<\/span><\/a><span style=\"font-weight: 400;\"> 2023-24<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">Not only this, but Santiment\u2019s chart also suggested a similar growth as Polkadot\u2019s development activity graph increased considerably over the last seven days.\u00a0<\/span><\/p>\n<figure id=\"attachment_299167\" aria-describedby=\"caption-attachment-299167\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Polkadot-DOT-15.27.23-21-Mar-2023.png\"><img decoding=\"async\" class=\"size-full wp-image-299167\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Polkadot-DOT-15.27.23-21-Mar-2023.png\" alt=\"\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Polkadot-DOT-15.27.23-21-Mar-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Polkadot-DOT-15.27.23-21-Mar-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Polkadot-DOT-15.27.23-21-Mar-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Polkadot-DOT-15.27.23-21-Mar-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Polkadot-DOT-15.27.23-21-Mar-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Polkadot-DOT-15.27.23-21-Mar-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-299167\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">However, DOT did not correspond to this development, as its weekly chart was painted red. As per<\/span> <a href=\"https:\/\/coinmarketcap.com\/currencies\/polkadot-new\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400;\">, DOT\u2019s price declined by over 5% in the last 24 hours, and at the time of writing, it was trading at $6.12 with a market capitalization of more than $7.1 billion.\u00a0<\/span><\/p>\n<h3><strong>This is what went wrong\u00a0<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">While most of the cryptos enjoyed the consequences of a bullish market last week, <\/span>\u00a0<a href=\"http:\/\/ambcrypto.com\/whats-behind-polkadots-dot-rising-development-activity-looking-into\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">DOT<\/span><\/a> did not gain much momentum<span style=\"font-weight: 400;\">. The Bollinger Bands revealed that DOT\u2019s price was in a less volatile zone, contributing to its dormant price action. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, the blockchain\u2019s Relative Strength Index (RSI) and Chaikin Money Flow (CMF) registered declines, which was a bearish development. However, the future might look good for DOT as its Money Flow Index (MFI) recently registered an uptick. The MACD revealed a bullish advantage in the market, which can help the token increase its price.\u00a0<\/span><\/p>\n<figure id=\"attachment_299168\" aria-describedby=\"caption-attachment-299168\" style=\"width: 1814px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/DOTUSDT_2023-03-21_15-32-21.png\"><img decoding=\"async\" class=\"size-full wp-image-299168\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/DOTUSDT_2023-03-21_15-32-21.png\" alt=\"\" width=\"1814\" height=\"815\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/DOTUSDT_2023-03-21_15-32-21.png 1814w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/DOTUSDT_2023-03-21_15-32-21-300x135.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/DOTUSDT_2023-03-21_15-32-21-1024x460.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/DOTUSDT_2023-03-21_15-32-21-768x345.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/DOTUSDT_2023-03-21_15-32-21-1536x690.png 1536w\" sizes=\"(max-width: 1814px) 100vw, 1814px\" \/><\/a><figcaption id=\"caption-attachment-299168\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<h3><strong>Is a trend reversal possible for Polkadot?\u00a0<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">While Polkadot\u2019s price action slowed down last week, quite a few developments happened over the last few days that had the potential to initiate a new bull rally. For example, Nova Wallet\u2019s latest update introduces support for<\/span> <a href=\"http:\/\/ambcrypto.com\/polkadot-dot-bulls-confirm-investors-confidence-heres-how\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Polkadot<\/span><\/a><span style=\"font-weight: 400;\"> OpenGov agile delegations on Kusama, so it\u2019s easier than ever to delegate your on-chain voting power to another account.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">1\/ Every Monday the <a href=\"https:\/\/twitter.com\/hashtag\/PolkadotRoundup?src=hash&amp;ref_src=twsrc%5Etfw\">#PolkadotRoundup<\/a> saves you the hassle of scouring Twitter for ecosystem updates.<\/p>\n<p>Oh yes. It\u2019s time once again to immerse yourself in this week&#39;s \ud83e\uddf5 for the most eye-catching news from Polkadot\u2019s parachains and all the other associated teams. <a href=\"https:\/\/t.co\/K90vCm1Fap\">pic.twitter.com\/K90vCm1Fap<\/a><\/p>\n<p>&mdash; Polkadot (@Polkadot) <a href=\"https:\/\/twitter.com\/Polkadot\/status\/1637796985716502528?ref_src=twsrc%5Etfw\">March 20, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, Fearless Wallet, which is a browser extension made for Polkadot and Kusama, released its browser extension on the Chrome Web Store. Apart from this, the KYVE Network also announced that it has fully integrated with Polkadot.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Realistic or not, here&#8217;s <\/span><a href=\"http:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">DOT market cap in BTC&#8217;s\u00a0terms<\/span><\/a><\/p>\n<hr \/>\n<h3><strong>What the metrics suggest<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">Though the developments looked optimistic for the Polkadot ecosystem, its on-chain performance still favored the bears.<\/span> <a href=\"http:\/\/ambcrypto.com\/what-dot-holders-should-know-about-polkadots-latest-statement-partnership\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">DOT<\/span><\/a><span style=\"font-weight: 400;\">\u2019s Binance funding rate registered a sharp decline on 21 March, reflecting its decreased demand in the derivatives market. Polkadot\u2019s social volume also declined over the last week, which indicates less popularity in the crypto space. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, it was interesting to note that despite the price decline and other negative metrics, DOT\u2019s NFT space witnessed growth, which was evident from its total number of NFT trade counts.\u00a0<\/span><\/p>\n<figure id=\"attachment_299170\" aria-describedby=\"caption-attachment-299170\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Polkadot-DOT-15.47.21-21-Mar-2023.png\"><img decoding=\"async\" class=\"size-full wp-image-299170\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Polkadot-DOT-15.47.21-21-Mar-2023.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Polkadot-DOT-15.47.21-21-Mar-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Polkadot-DOT-15.47.21-21-Mar-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Polkadot-DOT-15.47.21-21-Mar-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Polkadot-DOT-15.47.21-21-Mar-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Polkadot-DOT-15.47.21-21-Mar-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/Polkadot-DOT-15.47.21-21-Mar-2023-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-299170\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Polkadot outperformed others in terms of development activity.\u00a0 However, metrics and market indicators remained in sellers\u2019 favor. Polkadot [DOT] outperformed its competitors in terms of development activity. On 21 March, popular Twitter account ProofofGitHub revealed that DOT topped the list of cryptos by daily development activity.\u00a0 GitHub Daily Development Activity: #1: 851 Polkadot \/ Kusama#2:<a href=\"https:\/\/ambcrypto.com\/as-polkadot-dot-feels-bearish-pressure-development-activity-to-the-rescue\/\">Continue reading <span class=\"sr-only\">&#8220;As Polkadot [DOT] feels bearish pressure, development activity to the rescue?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":70,"featured_media":299180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-299166","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>As Polkadot [DOT] feels bearish pressure, development activity to the rescue? - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Polkadot [DOT] again managed to outperform others as DOT topped the list of cryptos by daily development activity.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/as-polkadot-dot-feels-bearish-pressure-development-activity-to-the-rescue\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"As Polkadot [DOT] feels bearish pressure, development activity to the rescue? - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Polkadot outperformed others in terms of development activity.\u00a0 However, metrics and market indicators remained in sellers\u2019 favor. Polkadot outperformed\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/as-polkadot-dot-feels-bearish-pressure-development-activity-to-the-rescue\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-21T18:30:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/03\/DOT.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Saman Waris\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/SamanWaris11\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Saman Waris\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/as-polkadot-dot-feels-bearish-pressure-development-activity-to-the-rescue\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/as-polkadot-dot-feels-bearish-pressure-development-activity-to-the-rescue\\\/\"},\"author\":{\"name\":\"Saman Waris\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/ad73a5a061fcfc27548aa27112d8b9d8\"},\"headline\":\"As Polkadot [DOT] feels bearish pressure, development activity to the rescue?\",\"datePublished\":\"2023-03-21T18:30:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/as-polkadot-dot-feels-bearish-pressure-development-activity-to-the-rescue\\\/\"},\"wordCount\":478,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/as-polkadot-dot-feels-bearish-pressure-development-activity-to-the-rescue\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/DOT.png\",\"articleSection\":[\"Altcoin\",\"News\",\"News 1\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/as-polkadot-dot-feels-bearish-pressure-development-activity-to-the-rescue\\\/#respond\"]}],\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/as-polkadot-dot-feels-bearish-pressure-development-activity-to-the-rescue\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/as-polkadot-dot-feels-bearish-pressure-development-activity-to-the-rescue\\\/\",\"name\":\"As Polkadot [DOT] feels bearish pressure, development activity to the rescue? 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