• Polkadot (DOT) is showing signs of price recovery with a 14.9% increase in the weekly market cap.
• According to Coingecko, DOT price has increased 4% in the last 24 hours.
• Polkadot’s eco-friendly quality can drive positive momentum for the coin.
As the crypto market begins to show signs of recovery, Polkadot (DOT) is one of the leading coins in this surge. According to Coingecko, the DOT price has skyrocketed by 4% in the last 24 hours, trading at $6.50 at the time of writing. This is a significant increase compared to the weekly low of 14.9% in market cap dominance.
Moreover, Polkadot’s development activity has spiked recently, with the help of the Polkadot Insider (@PolkadotInsider) that tweeted about the coin’s eco-friendliness. The tweet claimed that the CCRI Report 2022 ranked Polkadot second in terms of total yearly electricity consumption, only followed by US Household. This eco-friendly quality of DOT can surely drive a positive sentiment among investors, which is good news for the coin.
In addition, Polkadot has also seen a surge in popularly as it was one of the few coins that consumed the least electricity when pitted against other cryptocurrencies. This is a significant factor to consider as the crypto market is increasingly becoming aware of the environmental effects of mining. Thus, Polkadot’s eco-friendly quality could be a major driving force in its price recovery.
All in all, Polkadot’s recent price surge is a sign of recovery, and its eco-friendly nature could be a major factor that drives positive sentiment and momentum amongst investors. This is a great opportunity for those who are looking to invest in the crypto market.