Despite DOT’s rally, Polkadot faces roadblock


16 Sep 2023 8:30 AM

PolkaWorld’s proposal to seek operation costs gets rejected. DOT, however, rallies in the last 24 hours....

  • PolkaWorld, the largest Chinese community in Polkadot, announced that it would cease operations after its proposal for official funding was rejected.
  • The proposal was rejected due to issues with financial management under OpenGov, causing many people to leave the Polkadot ecosystem.
  • Despite the incident, DOT's social dominance remained high and its weighted sentiment remained positive.
  • DOT's price surged by more than 3% in the last 24 hours, reaching $4.20 with a market capitalization of over $5.1 billion.
  • The increase in DOT's price was accompanied by a rise in daily trading volume and Open Interest.

The sentiment in the article is mixed. While there are negative aspects such as the rejection of PolkaWorld's proposal and issues with financial management, there are also positive aspects such as DOT's price surge and positive sentiment.

Go to publisher site

You May Ask

Why did PolkaWorld cease operations?What were the issues with financial management under OpenGov?How did DOT's social dominance and weighted sentiment fare despite the incident?What were the factors contributing to DOT's price surge in the last 24 hours?What impact did the rejection of PolkaWorld's proposal have on the Polkadot ecosystem?

Suggested Reads