The latest price analysis indicates a downward trend for Polkadot.
Open-source multichain protocol Polkadot is experiencing an upswing in development activity, despite DOT – its native token – suffering a steady decline in value. It appears that the only thing keeping DOT relevant in the cryptocurrency ecosystem at the moment is the large number of parachains that support its decentralised web goals.
Recently, Polkadot announced the launch of numerous new parachains, which, if successfully activated, will enable the Polkadot community to govern without having to wait long for outside approval. At the time of writing, DOT is trading at $7.02 and is down by 8.25% in the last 24 hours and 5.29% in the past week.