Polkadot (DOT) Hits Historic Highs in Staking, Other Metrics: Report

Polkadot (DOT) is celebrating another impressive third quarter (Q3) performance that was marked by visible growth across its ecosystem. The protocol shared the performance highlight through the X app, noting that it managed to sustain growth in its staking service, added a total of five new parachains in the quarter, and welcomed a number of technical upgrades across the board.

Polkadot's growth by the numbers

Per the numbers shared, a total of 663 million DOT tokens were staked altogether, accounting for a quarter-on-quarter growth of 14.7%.

Apart from staking, Polkadot noted that its nomination pools that went live back in November also saw a massive embrace. According to the data published, these nomination pools secured more than seven million DOT tokens staked.

The burgeoning Polkadot ecosystem was showcased as a vibrant one, seeing a total of 190.6 million on-chain events recorded in September alone. As defined, these on-chain events include activities like "transfers, staking events, governance participation, and smart contract completion."

Polkadot has always been presented as a major Ethereum challenger in terms of speed, scalability and even developer activities. The Q3 report highlighted that the total GitHub Commits linked to Polkadot came in at a record 49,000.

In all, Polkadot said its ecosystem interoperability went up, with XCM messages growing as high as 20% for the quarter.

Translation DOT surge

As a community and parachain-driven protocol, the latest performance announcement of Polkadot might have an underlying bullish impact on the price of DOT.

At the time of writing, DOT is trading at a price of $4.03, having dropped by 0.73%. While this price drop conforms with the general trend within the Polkadot ecosystem at this time, the expectation is that DOT buyers can begin to price in the Q3 record to help elevate the coin's valuation in the short term.