The cryptocurrency market is currently falling, leading to a depression for investors showing bearish patterns. Major cryptocurrencies have also dropped in value, with Bitcoin dropping 9.33%, Ethereum dropping 12.58%, and Cardano dropping 9.71% over the past week.
On the other hand, among the best cryptocurrencies on the market, some altcoins work out of the box. One such coin that did not follow the charts of the leading cryptocurrencies is Polkadot (DOT), it does not seem so bad on the price chart. The main question that arises for investors is whether there is any hope for a full recovery for Polkadot?
Notably, some cryptocurrencies such as Cardano, Solana, and Polkadot did not follow Bitcoin’s lead during this market downturn. These tokens have been ranked among the best cryptocurrencies on the market. Plus, DOT has the potential to hit $ 50, so with its constant improvements, it could hit $ 50 soon.
Changes to the Polkadot ecosystem
In fact, collaboration, renewal, development in the ecosystem are key components for the growth of every network. Whereas, Polkadot is actively gaining attention in this area as the network strives to generate more updates for its users.
For example, PolkaBridge, a decentralized universal financial application platform that integrates with Polygon’s full stack scaling solution. In addition, the Polkadot hackathon, which began on September 8th, could also drive prices up. Following the hackathon on the 8th, DOT introduced a 40% price increase over the next few days.
Notably, the DOT price rose from $ 22 on the 7th to $ 32.10 in two days. The launch of parachains, tier 1 blockchains that should already work alongside Polkadot and Kusama Networks, also fueled the growth of DOT.
DOT’s online operations have grown largely due to the recent Parachain auction due to ecosystem-focused updates and a large number of social media platforms. As the development of the DOT network grows steadily, the indicator for DOT shows a positive graph.
However, given the ecosystem updates, healthy growth will help to peak. Thus, Polkadot will remain in an uptrend for a while, and this may push other altcoins to move further.