Flow

Token

Polkadot

MN Coin

<ul>
 <li style="font-weight: 400;">DOT was up by nearly 5% in the last 24 hours, along with a rise in volume.</li>
 <li style="font-weight: 400;">Social metrics remained high, but a few indicators turned bearish.</li>
</ul>
<a href="https://ambcrypto.com/search/polkadot" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Polakdot [DOT]</a> recently witnessed a major hike in its revenue, which meant that the blockchain’s usage increased. Interestingly, <a href="https://ambcrypto.com/search/avalanche" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Avalanche [AVAX]</a> also registered a similar increase not long ago, after which the token’s price skyrocketed. Will DOT follow a similar trend?&nbsp;
<h4>Polkadot’s captured value is rising</h4>
Polkadot Insider <a href="https://twitter.com/PolkadotInsider/status/1737340056833315203?t=8jK2gmZtyDYIGoRoaToCfw&amp;s=19" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">posted</a> a tweet on 20th December highlighting the fact that Polkadot ranked second on the list of blockchains with highest revenue rate in the last seven days.
<a href="https://ambcrypto.com/search/Kusama" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Kusama [KSM]</a>, <a href="https://ambcrypto.com/search/Polygon" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Polygon [MATIC],</a> and <a href="https://ambcrypto.com/search/SOlana" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Solana [SOL]</a> also made it to the top 5.
While DOT sat in the second spot, AVAX took the top position on the list. A hike in revenue also means that there must have been a rise in network’s fees.
 AMBCrypto <a href="https://ambcrypto.com/is-avax-in-the-throes-of-a-trend-reversal/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">reported</a> previously that AVAX witnessed a surge in its generated fees, as the value touched $3.5 million. Soon after that, AVAX became one of the only top coins that registered double-digit gains as its price rallied by over 30% at the time. 
Therefore, AMBCrypto checked Polkadot’s status to see whether it was also following a similar trend. Our analysis of Token Terminal’s data revealed that <a href="https://ambcrypto.com/polkadot-can-this-metric-aid-with-dot-price-prediction/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">DOT</a>’s revenue and fees spiked sharply on 16th December.
<div id="attachment_359772" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Token-Terminal-DOT.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-359772" decoding="async" class="wp-image-359772 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Token-Terminal-DOT.png" alt="" width="1347" height="423" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Token-Terminal-DOT.png 1347w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Token-Terminal-DOT-300x94.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Token-Terminal-DOT-1024x322.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Token-Terminal-DOT-768x241.png 768w" sizes="(max-width: 1347px) 100vw, 1347px"></a>
 Source: Token Terminal
</div>
<h4>DOT’s price is rising</h4>
Like AVAX, DOT’s value also registered an uptick. According to <a href="https://coinmarketcap.com/currencies/polkadot-new/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">CoinMarketCap</a>, DOT was up by more than 5% in the last 24 hours alone. At the time of writing, Polkadot was trading at $7.16 with a market capitalization of over $9.3 billion.
 The token’s trading volume also surged along with its value, which was bullish. 
Sentiment around the token remained broadly positive as its weighted sentiment spiked a few times last week. <a href="https://ambcrypto.com/could-polkadots-latest-referendums-have-an-impact-on-dots-price/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">DOT</a>’s social volume also remained high. 
Additionally, DOT remained in demand in the derivatives market, as evident from its green Binance funding rate.
<div id="attachment_359773" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polkadot-DOT-10.28.45-21-Dec-2023.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-359773" decoding="async" class="wp-image-359773 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polkadot-DOT-10.28.45-21-Dec-2023.png" alt="" width="2560" height="867" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polkadot-DOT-10.28.45-21-Dec-2023.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polkadot-DOT-10.28.45-21-Dec-2023-300x102.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polkadot-DOT-10.28.45-21-Dec-2023-1024x347.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polkadot-DOT-10.28.45-21-Dec-2023-768x260.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polkadot-DOT-10.28.45-21-Dec-2023-1536x520.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polkadot-DOT-10.28.45-21-Dec-2023-2048x693.png 2048w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 Source: Santiment
</div>
To understand whether DOT will be able to sustain this price uptick, AMBCrypto checked the token’s daily chart. As per our analysis, <a href="https://ambcrypto.com/polkadots-price-falls-past-7-how-does-this-affect-dots-prediction/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">DOT</a>’s MACD displayed a bearish crossover, despite the price uptrend.&nbsp;
Read <a href="https://ambcrypto.com/predictions/polkadot-price-prediction" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Polkadot’s [DOT] Price Prediction</a> 2023-24
Its Money Flow Index (MFI) went down from the overbought zone and was headed towards the neutral mark, increasing the chances of a price downtick in the days to follow. 
Nonetheless, Polkadot’s Chaikin Money Flow (CMF) rested well above the neutral mark, suggesting that the northbound price movement might continue further.
<div id="attachment_359774" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/DOTUSD_2023-12-21_10-31-29.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-359774" decoding="async" class="wp-image-359774 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/DOTUSD_2023-12-21_10-31-29.png" alt="" width="1550" height="791" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/DOTUSD_2023-12-21_10-31-29.png 1550w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/DOTUSD_2023-12-21_10-31-29-300x153.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/DOTUSD_2023-12-21_10-31-29-1024x523.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/DOTUSD_2023-12-21_10-31-29-768x392.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/DOTUSD_2023-12-21_10-31-29-1536x784.png 1536w" sizes="(max-width: 1550px) 100vw, 1550px"></a>
 Source: TradingView
</div>

Polkadot: Can soaring revenue impact DOT price predictions?

AMBCrypto

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