Polkadot's bull run seems unlikely if DOT continues relying only on this activity

Polkadot DOT‘s Twitter news handle, Polkadot Insider, posted an interesting update on 23 September 2022. As per the update, development activity contributors performance on the network in the last seven days witnessed an upward trend.

Timeline of Polkadot-new

Polkadot price analysis for today shows that the cryptocurrency has seen a bullish breakout from a symmetrical triangle pattern. The breakout from the triangle pattern has occurred after a period of consolidation below the $6.25 support level.

The price of Polkadot (DOT) is in a downtrend and has fallen to the lower price level of $5.98. This support is the historical price level from July 13 and has not been broken yet.

The launch of Tether tokens (abbreviated as (‘USDT') on Polkadot, a decentralized, open-source blockchain framework, was recently announced by Tether Operations Limited (from now on, referred to as ‘Tether'). Tether is the firm that operates the blockchain-enabled network tether.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. USDT Dominance is a metric of the share of the crypto market cap held by USDT.

Tether is now live on 15 different blockchain networks, according to the company's latest announcement on Friday as the firm detailed that it is now supported by the Polkadot blockchain system. The stablecoin's new support follows the token being added to the Near Protocol 11 days ago.

To shed light on the protocol's successes, Polkadot insiders have been providing key data. As it stands, these accomplishments are very helpful to the overall ‘well-being' of DOT.

Stablecoin issuer Tether is launching its flagship stablecoin USDT on the Polkadot (DOT) blockchain network. The latest expansion comes just a few weeks after the leading stablecoin launched on the Near blockchain.

Midway through the month of June, the Polkadot (DOT) price dropped and fell below the range to hit the lower support level of $5.951. Further, a rebound broke the range of $6.854, reaching $7.78 before being rejected back to the support level at $6.854. Previously, the prices soared past the $7.

The first in-game NFTs have been minted on Efinity with the launch of the MetaHome NFT collection, immediately usable in MyMetaverse's full suite of games. MyMetaverse, a game development company specializing in creator-led metaverses with play-and-earn economies, ensured that on launch, the NFTs perform different functions in three different games.

Tron (TRX) and Polkadot (DOT) investors have seen the value of their crypto assets progressively drop in recent months. Many holders are now scrambling to find alternative investments.