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- DOT ranked #1 on the list of ciphers with the highest Nakamoto modulus metric
- However, other DOT and market indicators showed bearish conditions
Polka dot [DOT] It was in the news again as it took first place in the best Nakamoto Coefficient indicator on this list of cryptocurrencies. The Nakamoto coefficient indicates the number of validators (nodes) required to successfully slow down or prevent a particular blockchain from working as intended.
The higher the Nakamoto coefficient for the total number of validators, the less likely the decentralized blockchain will be destroyed by collusion. Besides DOT, avalanche [AVAX] When Solana [SOL] It made it to the top 3 on our list.
NC metric minimum number of validators required to constitute 33.3% of network staking share to prevent bad validators from manipulating transactions. A higher value means more decentralization
When @Polka dot Ranked 1st
Details https://t.co/RFm2gfZGzp #Polka dot $DOT pic.twitter.com/BAYfKWE9FUPolkadot Insider (@PolkadotInsider) January 15, 2023
how much 1,10,100 dots What is today’s value?
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In addition to the aforementioned information, Polkadot’s nomination pool has reached another milestone just two months after its launch. According to the official tweet, members of the pool he has over 1,000,000 DOT bound.
To provide more context, the Polkadot Nomination Pool lowers the barrier to earning rewards to just 1 DOT, effectively balancing the interests of small and large DOT holders. Facilitates native staking.
1/ The Polkadot nomination pool has reached another milestone. In just two months after launch, over 1,000,000 DOTs have been joined by pool members!
Check out to learn more about Polkadot’s nomination pool and how to stake natively on Polkadot.
Start staking now
Polkadot (@Polkadot) January 13, 2023
Despite these updates, however, DOT preferred to stay out of the limelight, especially on the price side. Dot As DyDx’s funding rate recorded a drop on January 15th, it failed to generate significant demand in the futures market.
Interestingly, the polkadot is list of cryptocurrencies in terms of social activities on January 14th. However, Santiment’s chart shows the opposite result as DOT’s social dominance declined last week.
Another major bearish signal is CryptoQuant, because the DOT Relative Strength Index (RSI) showed an oversold position. This could lead to a price drop for DOT in the next few days.
Source: Santimento
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What’s next for DOT?
DotThe daily chart of the C also painted a bearish picture, reinforcing the potential for price declines. The Money Flow Index (MFI) was in the overbought zone, which was a bearish signal.
In addition, the Chaikin Money Flow (CMF) also recorded a downtick, further increasing the potential for a price drop. Nevertheless, the Moving Average Convergence Divergence (MACD) was in favor of the bulls.
Source: Trading View
