Token

Polkadot

Million

Moonbeam

Billion

<ul class="list-ic vertical"> 
 <li> 1 <a>Polkadot has seen a decline in transactions while revenue has stagnated for the past few months.</a> </li> 
 <li> 2 <a>DOT price is currently trading near the value of $6.6 with a gain of over 6% in the intraday session</a> </li> 
</ul> 
Polkadot is an open-source multi-chain protocol that connects and secures parachains while allowing cross-chain transfer. Polkadot is a layer zero blockchain that brings the vision of multichain to life. Meanwhile, as a meta protocol, Polkadot can autonomously and forklessly update its own codebase via on-chain governance as per the community’s will. In the protocol, each transaction is processed in parallel with each shard, while shards can be heterogeneous in nature. The network uses a Nominated proof of stake mechanism(Npos) with validators and nominators to secure the chains. 
<div class="wp-block-image"> 
 <figure class="aligncenter">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXc6Xlp8C_jqtiFhtC12dGsHOzh3FDiFOiZLj2vZlVyv-FtHs6hYdqnQVIar6aFM0O_qvIpYwY90vnFYbOMXLfBN4K2-zZcutlVGI9cPRbJMKoQVT7txjLj2EdS2KtDdDFiSgqhmNTyx5qkL9JopitGZoiWM?key=Zn03Wa-5PPvKwRrt185bSQ" alt="">
 </figure>
</div> 
Source: Polkadot.network 
Polkadot has four major components which are relay chains, para chains, para threads and bridges. The custom blockchains are easy to develop using the substrate framework, which can easily be connected to the network. Meanwhile, its novel data availability and validity scheme allows chains to interact with each other in a meaningful way. Recently, one of the parachains of the Polkadot Moonbeam launched a $13 million fund for web3 gaming. Let’s have a look at Polkadot’s on-chain analytics. 
<h2 class="wp-block-heading" id="strong-polkadot-sees-a-decline-in-revenue-along-with-active-users-strong">Polkadot Sees A Decline In Revenue Along With Active Users</h2> 
<a href="https://www.thecoinrepublic.com/2024/05/17/can-polkadot-reach-9-amid-optimistic-developments-changes/" target="_blank" rel="noreferrer noopener">Polkadot</a> has one of the most highly sophisticated user-driven governance systems, where all the token holders vote on how the network is run. One can also customise his own blockchain governance system based on needs and evolving conditions. 
<div class="wp-block-image"> 
 <figure class="aligncenter">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXc2psdngXxAITE29CK_jkbeHhIrOJDpsxokVVWkGIxm7q1qX-k_Q5cjXDCAZ6LvCDnlQR9Ua65VEDDdJadJ7Mmc96knYwsV04UhXfpbcK1BMve_femTO7IgOXpsqXiN8hiGnpjCTCLLjM9ZzpZ8LmooRWc?key=Zn03Wa-5PPvKwRrt185bSQ" alt="">
 </figure>
</div> 
Source: Artemis.xyz 
In the past three months, the Polkadot network has seen a decline in transactions from 51k to 39k on a daily basis. Meanwhile, the daily active addresses of the protocol have remained relatively constant for the past three months. If we look at the social sentiment of the protocol, the overall growth in its following on X and Telegram has remained fairly constant, as per Artemis. 
<div class="wp-block-image"> 
 <figure class="aligncenter">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXePlSJAoZ2J2MAUC7XiXHHRSb1bwJll2dy00t5MOENQ_tWW7v_D83AzszYuDiY67gPP5ZELAilBfAAYPANmsnaGrVF4Gk8YBGFhVCj5-z9gb4jhzdfh6qFpFPWUkH08ix1iI4-aTBDpe1NADUvyHIofZ35q?key=Zn03Wa-5PPvKwRrt185bSQ" alt="">
 </figure>
</div> 
Source: Token volume by Defillama 
Polkadot has observed a decline of over 19% in the overall fees collected in May 2024. The overall earnings of the protocol have also declined by 5% compared to the previous month, as per the Token terminal. Let’s look at the price action scenario of the DOT. 
<h3 class="wp-block-heading" id="strong-are-dot-price-bulls-regaining-their-strength-strong">Are DOT Price Bulls Regaining Their Strength?</h3>  
<a href="https://in.tradingview.com/chart/DOTUSDT/hL76xwPu-</a> by <a href=" https: in.tradingview.com u ritika_tcr ">Ritika_TCR</a> on <a href="https://in.tradingview.com/">TradingView.com</a>  
Polkadot has a market cap of $9.6 Billion and is ranked 14th in the crypto verse. A slight decline was observed in the volume of the DOT, while its VM ratio suggests a consolidated trend. DOT price is currently near the value of $6.63, with a gain of 3.34% in the intraday session. 
DOT price is currently in a consolidating range and forming bearish patterns on the daily chart. It is currently trading below the 50 and 100 EMA, which can act as a resistance to the price. The upside trend of the DOT token price can see a halt near the value of $7.6. Meanwhile, the support of the asset price can be observed near $6 
The RSI of DOT is currently near 43, with a small positive slope. The overall sentiment of the RSI is bearish in nature. 
<h4 class="wp-block-heading">Conclusion</h4> 
Polkadot Moonbeam has recently launched a $13 Million fund that could push the Web 3 gaming adaption. Polkadot has been seeing a decline in the overall active address along with the revenue. DOT price is currently in a consolidation range but can see a new high in the future. 
Disclaimer The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Will DOT Price Hit $20 Despite The Decline In Transactions?

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