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Everything that Polkadot [DOT] short sellers should know to make profit

23 Aug, 20222 min readAltcoins
Everything that Polkadot [DOT] short sellers should know to make profit

Big things are happening in the Polkadot ecosystem as the latest data confirmed growing speculation.

Polkadot emerged as the top chain by development activity in the past 24 hours. With an index value of 344, the network heads competitors such as Ethereum, Bitcoin, Solana, and others.

High development activity is a signal that the blockchain will ship new features in the future.

DOT-ting the correct lines

Polkadot is beginning to emerge from its June- bottoms in some fashion after its latest series of developments.

The network has been eager to flex its muscles despite the ongoing volatility crisis in the crypto market.

Projects on Polkadot are continuing to grow as per a recent update. PolkaBridge has recently been listed on Huobi exchange marking a sharp rise in expansion. Moreover, Polkadot is now available for staking on Binance which will provide a tremendous range of exposure to the network.

Recently, the Galaxy Score metric was revealed for Polkadot projects which shows the health, quality, and performance of the token. As per this list, Poolz Finance heads the way followed by Ankr, Dock, and Mantra DAO.

Polkadot Inside has also released an update on the performance of Bifrost Finance’s Rainbow Boost 3.0.

More than 7900 users have already joined the network with the top 100 having access to 47,000 raindrops.

Furthermore, more than 188,000 vKSM has been minted through SLP with over 42000 (22% of supply) minted during the campaign itself.

A tough week

Despite the ongoing development activity on Polkadot, the token has slid under the radar with its performance. DOT has shed over 19.5% in the past week with just under 5% value lost in the past day alone.

The token has continued to lose face value after the crypto plunge on 19 August which saw major cryptocurrencies lose key support levels.

Despite the recent recovery around several assets, the case for DOT drags on into more red candles. The token, at press time, was trading at $7.04, according to CoinMarketCap.

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