Polkadot: Despite DOT's bearishness, staking grows
stakers over the last month. While writing. Polkadot had a staking ratio of 45.8% and a staking market capitalization of $3.08 billion.Growth was not only noted in terms of staking but also in the blockchain’s DeFi space. DeFiLlama’s data pointed out that the blockchain’s TVL has been on the rise since the beginning of the year, which looked encouraging.
TVL represents the number of assets that are being staked under a specific protocol at the moment. Therefore, a rise in the metric reflects an expansion in the DeFi space.After a long wait, DOT finally showed signs of recovery as its chart turned green. According to, DOT’s price increased by nearly 1.3% in the last 24 hours. At press time, it was trading at $5.02 with a market cap of over $6.1 billion.
However, the uptrend might not last long, as its price uptick was accompanied by a decline in its trading volume. Additionally, negative sentiment aroundCrypto prices tend to move in the opposite direction from their funding rate. In this case, DOT’s Binance funding rate was green, increasing the chances of a price decline.
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