{"id":344072,"date":"2023-09-16T14:00:28","date_gmt":"2023-09-16T08:30:28","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=344072"},"modified":"2023-09-16T13:14:00","modified_gmt":"2023-09-16T07:44:00","slug":"despite-dots-rally-polkadot-faces-roadblock","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/despite-dots-rally-polkadot-faces-roadblock\/","title":{"rendered":"Despite DOT&#8217;s rally, Polkadot faces roadblock"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">PolkaWorld mentioned that there were issues with financial management under OpenGov.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">DOT was up by more than 3% in the last 24 hours, and a few metrics were bullish.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Polkadot\u2019s [DOT]<\/span><span style=\"font-weight: 400;\"> Polkaworld, which is a community of blockchain enthusiasts in China, recently hit a roadblock. The community had earlier submitted a proposal asking to cover community operation between September \u2013 November 2022. However, the proposal was rejected.<\/span><\/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<h4><b>PolkaWorld\u2019s proposal gets rejected<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">PolkaWorld, the largest Chinese community in Polkadot, announced that it would soon cease operations. The community has been out of operation for half a month due to the rejection of its proposal to apply for official funding. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The original proposal was submitted in August, but later got rejected as the majority of the voters cast their votes against it. PolkaWorld also mentioned that there were issues with financial management under OpenGov, with many people being rejected and leaving the Polkadot ecosystem.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83e\udee5 It&#39;s super sad to say that PolkaWorld&#39;s proposal was rejected, and we&#39;ve been halted operations for half a month now. This is the first time we&#39;ve had to pause in the four years and three months since we started in 2019. All of these changes happened after <a href=\"https:\/\/twitter.com\/Polkadot?ref_src=twsrc%5Etfw\">@Polkadot<\/a>  initiated\u2026 <a href=\"https:\/\/t.co\/KxqhCRKTXC\">https:\/\/t.co\/KxqhCRKTXC<\/a><\/p>\n<p>&mdash; PolkaWorld (@polkaworld_org) <a href=\"https:\/\/twitter.com\/polkaworld_org\/status\/1702644546923082017?ref_src=twsrc%5Etfw\">September 15, 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;\">The tweet also mentioned that if OpenGov aids in the loss of talented teams, then they might be making a mistake. The community interviewed some<\/span> <a href=\"http:\/\/ambcrypto.com\/will-polkadots-liquid-staking-revive-interest-in-dot\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">DOT<\/span><\/a><span style=\"font-weight: 400;\"> holders who believe that applicants converting Treasury funds into cash is harmful to them, so they tend to vote against all proposals. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Thus, going forward, PolkaWorld will update its proposal based on community suggestions. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, it is pertinent to note that the PolkaWorld incident did not have a negative impact on DOT\u2019s social front. This was evident from Santiment\u2019s chart, which showed that DOT\u2019s social dominance was high. Moreover, its weighted sentiment also remained on the positive side.<\/span><\/p>\n<figure id=\"attachment_344074\" aria-describedby=\"caption-attachment-344074\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Polkadot-DOT-11.15.27-16-Sep-2023.png\"><img decoding=\"async\" class=\"wp-image-344074 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Polkadot-DOT-11.15.27-16-Sep-2023.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Polkadot-DOT-11.15.27-16-Sep-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Polkadot-DOT-11.15.27-16-Sep-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Polkadot-DOT-11.15.27-16-Sep-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Polkadot-DOT-11.15.27-16-Sep-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Polkadot-DOT-11.15.27-16-Sep-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Polkadot-DOT-11.15.27-16-Sep-2023-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-344074\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<h4><strong>DOT is picking up its pace<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">While the aforementioned episode happened, DOT picked up pace as its price action turned bullish. According to <\/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 surged by more than 3% in the last 24 hours. At the time of writing, it was trading at $4.20 with a market capitalization of over $5.1 billion. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The good news was that <\/span><a href=\"http:\/\/ambcrypto.com\/as-dot-hits-new-year-low-late-sellers-can-target-this-price-level\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">DOT<\/span><\/a><span style=\"font-weight: 400;\">\u2019s price hike was accompanied by a rise in daily trading volume. Its Open Interest also registered an uptick in the last 24 hours. <\/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&#8217;s market cap in BTC&#8217;s terms<\/span><\/a><span style=\"font-weight: 400;\">\u00a0\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">When Open Interest increases, it usually means new money is coming into the market for that option, meaning that the possibility of a continued uptrend is high.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the token\u2019s 1-week price volatility went down slightly, which could restrict<\/span> <a href=\"http:\/\/ambcrypto.com\/polkadot-this-is-why-dots-recovery-is-just-around-the-corner\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">DOT&#8217;s<\/span><\/a><span style=\"font-weight: 400;\"> price from moving up further. It was interesting to note that Polkadot, which is famous for its development activity, registered a drop in that metric over the last seven days.<\/span><\/p>\n<figure id=\"attachment_344075\" aria-describedby=\"caption-attachment-344075\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Polkadot-DOT-11.22.18-16-Sep-2023.png\"><img decoding=\"async\" class=\"wp-image-344075 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Polkadot-DOT-11.22.18-16-Sep-2023.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Polkadot-DOT-11.22.18-16-Sep-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Polkadot-DOT-11.22.18-16-Sep-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Polkadot-DOT-11.22.18-16-Sep-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Polkadot-DOT-11.22.18-16-Sep-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Polkadot-DOT-11.22.18-16-Sep-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Polkadot-DOT-11.22.18-16-Sep-2023-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-344075\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>PolkaWorld\u2019s proposal to seek operation costs gets rejected. DOT, however, rallies in the last 24 hours.<\/p>\n","protected":false},"author":75,"featured_media":344076,"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-344072","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 v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Despite DOT&#039;s rally, Polkadot faces roadblock - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Polkadot\u2019s Polkaworld, which is a community of blockchain enthusiasts in China, recently hit a roadblock. 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