Polkadot [DOT] is all set to announce its top 5 influential parachains on the blockchain in just about a week.
Polkadot will release a list of its top five influential parachains in the next week. However, despite this development, DOT remains under bears’ influence.will introduce its top five most influential parachains. Ahead of the announcement, the blockchain also revealed the top parachains as per LunarCrush over the last seven days.
Alongside this, DOT also became the third blockchain with the highest movement in AltRank, which is generally considered to be a bullish signal.Polkadot Insider, a popular X account, posted a tweet revealing the top influential parachains over the last seven days. The list included chains like Moonbeam, Parallel Finance, Bifrost Finance, T3rn, and Litentry.
It was interesting to note that Acala Network, which did not make it to the list shared by Polkadot Insider, was the second largest parachain as its TVL stood at more than $116 million.While parachains continued to grow, Polkadot’s performance in the DeFi space dropped. This was evident from the sink in its TVL since the beginning of Q3 2023. At the time of writing, Polkadot’sWhile this happened, Polkadot ranked third on the list of blockchains by AltRank in the last 24 hours.
Additionally, Polkadot’s Chaikin Money Flow and Money Flow Index both registered upticks, which could play a significant role in increasing the token’s price in the days to follow.Dipayan is a full-time journalist at AMBCrypto. He has 2 years of experience in the content creation industry. A graduate in journalism, Dipayan has a keen interest in keeping himself updated with the latest developments in the crypto-space. He is a singer and a guitarist who also enjoys going on long bike rides.
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