DOT’s demand is sky-rocketing in hedge fund portfolios thanks to its…
Polkadot is currently the talk of the crypto town. The promising blockchain network, headed by Gavin Wood and Robert Hebermeier, garnered significant traction over the years.
Polkadot was the most commonly held altcoin in Q4 last year. Around 24 out of 57 tracked funds invested in it. Meanwhile, 42% of venture capital and hedge fundsinvesting in crypto were betting on the success of Polkadot’s smart contracts platform.
Source: Twitter| Messari
Oasis Network (ROSE) and Near Protocol (NEAR) followed after DOT as the most commonly held assets. Although, one should note that the analysis did not include Bitcoin or Ethereum. As it is fair to assume that most funds hold the two leading cryptocurrencies.
In addition to this, DOT held the fourth-largest circulating market cap amongst 30 invested assets.
Post successful 10 rounds, Nodle secured the 11th Polkadot parachain slot with 7,528 contributions equaling 2.48 million DOTs—worth over $42 million.
<p lang=«en» dir=«ltr» xml:lang=«en»>Congratulations to @NodleNetwork on winning Polkadot's 11th auction!Nodle will be onboarded at block #9,388,800 [roughly March 11,2022] at the beginning of lease 7 with the other winners from auctions 6-11. Over 4.7K network stakeholders locked up DOT in favor! pic.twitter.com/lZWrGiPYK2
— Polkadot (@Polkadot) March 10, 2022
The Crowdsourced Decentralized Network’s win would allow Nodle’s token ($NODL) to interoperate with other decentralized applications built on top of Polkadot. Even with other Blockchains that benefitted from Polkadot’s shared security principles.
Nodle CEO and Founder Micha Benoliel in an 11 March blog post reiterated optimism following this impressive victory. He claimed,
“This makes NODL tokens instantly liquid and usable across
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