Polkadot [DOT] surpasses Cardano and Ethereum in this aspect
Polkadot [DOT] surpassedCardano [ADA] and Ethereum [ETH] as the blockchain with the highest developer activity in September with 522 GitHub events to its credit.
Despite its highly anticipated Vasil hard fork upgrade, Cardano trailed Polkadot with 455 GitHub events. Ethereum, in spite of the Merge, came in the third position with 400 GitHub events.
The growth in developer activity on Polkadot was primarily attributable to two events: the implementation of a new network upgrade to modify the Polkadot Runtime to v9270 on 7 September and the launch of a new DeFi product referred to as vDOT on 13 September.
According to data from CoinMarketCap, Polkadot’s native cryptocurrency, DOT commenced the trading month at an index price of $7.03.
After initially trading at a low of $6.82 on 7 September, the support received by buyers in the market pushed the price to a high of $7.99 by 12 September.
As buying pressure waned, the price of the asset declined. This decline in buying pressure caused the asset’s Relative Strength Index (RSI), Chaikin Money Flow (CMF), and Money Flow Index (MFI) to breach their respective neutral positions in downtrends by 12 September.
At press time, the RSI was positioned below the 50 region at 42. DOT’s CMF was spotted at -0.11, showing an imminent surge in selling pressure for the cryptocurrency. The MFI was pegged at 49 as of this writing, attempting another cross-over above the neutral line.
Source: TradingView
DOT saw a decline in its circulating market capitalization in the period under review. According to data from Messari, DOT started the month with a circulating market capitalization of $8.07 billion.
Pegged at $7.44 billion at press time, DOT’s circulating market cap had declined by 4% in the
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