Spotted [DOT] is starting to emerge as the “greenest” layer 1 blockchain as the latest data reveals. As we know, Ethereum [ETH] moves from proof-of-work to an eco-friendly proof-of-stake mechanism.
Despite this transition, Polkadot will continue to dominate blockchain energy consumption measurements. According Polka Dot Insiderthe network leads other L1s like Avalanche, Solana and Cardano at 0.1 GWh.
It is matched only by Tezos which still lags behind the scalability of Polkadot.
Source: Polkadot Insider
Polkadot Insider also posted a Tweeter on the network’s most successful projects. This was calculated using the Galaxy Score which rates the overall token health and quality of the projects.
According to the update, ChainX was the highest rated project on Polkadot with an index value of 59. It was followed by Moonbeam at 58 and TribeOne at 57.
Source: Polkadot Insider
The same platform also talks about the most traded tokens on Polkadot in the last 24 hours. The update claims that LINK was the best trader-friendly token with a volume of $254.7 million at the time of writing.
It was followed by Polkadot’s own DOT token at $242.7 million. At third is the MXC token with a distant trading volume of $27.8 million.
What now for the DOT?
According to CoinMarketCap, DOT has shown promise recently with over 3% weekly gains. It was trading at $7.26 at press time, which was also helped by a 30% increase in trading volume over the past 24 hours.
Despite this latest increase, business activity has fallen sharply in recent months. As we can see in the chart below, the drop is evident over the past three months.
Source: Santiment
A little sorry DOT
There is currently some short-term promise for Polkadot traders, with the daily chart also showing bullish activity on the network. But the tight market conditions continue to hamper the progress of the crypto market. DOT activity will become a crucial factor in moving the network forward in the future.
