The third quarter (Q3) performance of Polkadot (DOT) was once again excellent and characterised by observable expansion throughout its ecosystem. The protocol announced the highlight of its performance through the X app, highlighting how it was able to maintain growth in its staking service, add a total of five new parachains in the quarter, and welcome a number of technological improvements across the board.
Polkadot’s growth by the numbers
According to the information provided, 663 million DOT tokens were staked in total, representing a 14.7% increase from one quarter to the next.
Polkadot pointed out that its nomination pools, which went live back in November, also had a significant welcome in addition to staking. These nomination pools garnered more than seven million DOT tokens invested, according to the data made public.
https://x.com/Polkadot/status/1710280237815042210?s=20
With 190.6 million on-chain occurrences totaled in September alone, the developing Polkadot ecosystem was demonstrated as being active. According to the definition, these on-chain events include of “transfers, staking events, governance participation, and smart contract completion.”
In terms of speed, scalability, and even developer activity, Polkadot has long been positioned as a serious Ethereum rival. The overall number of GitHub Commits connected to Polkadot reached a record 49,000, according to the Q3 report.
All all, according to Polkadot, the ecosystem’s interoperability increased, with XCM messages increasing by as much as 20% for the quarter.
Translation DOT surge
As a community- and parachain-driven protocol, Polkadot’s most recent performance update may have underlying positive effects on the price of DOT.
DOT is now down 0.73% in price, trading at $4.03 as of this writing. The idea is that DOT purchasers may start pricing in the Q3 record to help increase the coin’s worth in the short term, even if this price reduction is currently consistent with the Polkadot ecosystem’s overall trajectory.
