Polkadot has been one of the most active blockchain that moves in silence with its token price, DOT, that has been rising almost 100% since October 2023.
According to data from Polkadot Insider, development’s been active on the Polkadot Parachain because of new projects that are coming in and might potentially make Polkadot more popular especially in the upcoming bull run.
The active sign of development is seen by the code commits that have been increasing in the past month which shows that the number of code commits on Polkadot has been significantly higher than most popular blockchains right now.
Active Development on Polkadot
Data from Polkadot Insider which was gathered from Token Terminal on February 15th, 2024 showed that developers on Polkadot have been active.
It is stated that in the last 30 days, code commits have been increasing at a rate of 37.5% meaning there are 37.5% more code commits right now than last month.
Code commits are codes that developers, usually among the community of a project, contribute to an existing repository, making the code repository or the app itself, better than the original one.
Code commits are signs that the community and developers want a project or specifically a DApp or a Chain, to be better than it was before by contributing with code that upgrades the project which can be implemented by the owner of the Project, Chain, or DApp.
As of right now, the increase in code commits on Polkadot and Kusama are the same, meaning there are potentially new projects developing and testing their product on the ecosystem.
Kusama is the testnet for Polkadot, which is why if Polkadot is active then Kusama is active, and that also means that there are potentially new projects that are going to be launched soon on Polkadot that the public don’t know yet.
Compared to popular blockchains, for example Solana or Ethereum, Polkadot’s code commits data change is significantly different.
The changes on Ethereum show only around 9.6% while on Solana it stands at only around 19.4%.
This shows that not only there are potentially little projects being developed there, also it shows that the developers and the community is not actively engaging in the development process and probably only focus on being a user rather than contributor to make the ecosystem better.
The condition shows that the Polkadot community is probably stronger, because even though the overall transaction volume and blockchain activity is currently higher in those two more popular blockchain, the code commits shows that Polkadot community members and developers care enough to contribute to Polkadot’s well being.
Evidence of this strong community is the fact that DOT’s price has also not dropped significantly and is still able to maintain its ground even though it is moving slower than most blockchain coins.
This slow and steady movement shows less volatility which makes for great portfolio allocations for investors that do not like crypto with volatilities that are too high.
Rising Popularity of Polkadot’s Ecosystem
The slow movement is also present because of the nature that Polkadot’s only allow a certain number of developers to build on its parachain, where the selection process comes from the parachain auction.
This ensures that there are no scam projects on Polkadot and developers building on there are high quality developers that produce high quality projects.
But even though there aren’t many new projects that usually are what fuels price increase of a certain blockchain, the existing projects on the DOT ecosystem have also been active.
For example, Kintsu, the liquid staking infrastructure on Polkadot has also been rising in its popularity, which is evident by the support of Coinbase.
Coinbase and Polkadot tweeted that Kintsu and Aleph Zero has been listed as one of the top projects on the Coinbase Venture ecosystem. This could potentially create a positive sentiment for the two projects which will potentially create a positive sentiment towards Polkadot.
Another one is Astar Network, which is a chain that is active on the Polkadot Parachain. It is said that Astar is currently creating something new with Rarible and Quickswap, potentially expanding Polkadot’s transaction to the Ethereum and Polygon ecosystem.
While the collaboration with Rarible has not been detailed yet, the collaboration with Quickswap is already being published, where users can now stake their ASTR through the Astar Portal and be connected to the Quickswap Staking DApp.
Lastly, Moonbeam has also seen an increase of daily active users at a pace of 150% per year according to data comparing last year to this year.
This shows that the overall ecosystem has been active and Polkadot might regain its popularity in the predicted bull market of 2025.
Investors need to keep an eye out for new projects on the ecosystem, especially considering that Polkadot have a liquid staking infrastructure of itself called Kintsu, which might allow their DeFi ecosystem to rise significantly.
