Polkadot is currently the talk of the crypto city. The promising blockchain network, led by Gavin Wood and Robert Hebermeier, has received a lot of attention over the years.
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Polkadot was the most held altcoin in the fourth quarter last year. About 24 of the 57 funds tracked have invested in it. Meanwhile, 42% of venture capital and hedge funds to invest were in crypto bet on the success of Polkadot’s smart contracts platform.
Source: Twitter| messari
Oasis Network (ROSE) and Near Protocol (NEAR) followed as the most frequently held assets after DOT. However, it should be noted that the analysis did not include Bitcoin or Ethereum. Because it is reasonable to assume that most funds have the two major cryptocurrencies.
In addition, DOT had the fourth largest circulating market capitalization amid 30 invested capital.
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Post successful 10 rounds, noodle insured the 11th Polkadot parachain slot with 7,528 contributions equal to 2.48 million DOTs – worth more than $42 million.
congratulations to @NodleNetwork on winning Polkadot’s 11th auction!
Nodle will be on board at block # 9,388,800 [roughly March 11,2022] at the start of lease 7 with the other winners of auctions 6-11. Over 4.7K network stakeholders locked in DOT in favor! pic.twitter.com/lZWrGiPYK2
— Polkadot (@Polkadot) March 10, 2022
The Crowdsourced Decentralized Network victory would allow Nodle’s token ($NODL) to interoperate with other decentralized applications built on top of Polkadot. Even with other Blockchains taking advantage of Polkadot’s shared security principles.
Nodle CEO and founder Micha Benoliel reiterated the optimism following this impressive victory in a March 11 blog post. He claimed,
“This makes NODL tokens instantly liquid and usable for all other parachains, dramatically expanding our decentralized wireless network vision. Now our users not only benefit from: Nodle Cash App‘s utility, but can interact with DeFi ecosystems. Like decentralized exchanges, or money markets, and other DeFi ecosystems.”
This was the last auction for the second batch of Polkadots. The second batch had a total of six auctions. Winners were Efinity, Centrifuge, Composable Finance, HydraDX, Interlay and Nodle.
Source: polkadot.js
Parachain slot auctions take advantage of Polkadot’s ability to give developers ways to create new crypto assets and decentralized applications (dapps) on top of their blockchain.
The #12 largest token responded positively to this update. According to CoinMarketCap, DOT registered another 8% increase in 24 hours. At press time it was trade above the $18 sign.