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Why can’t Polkadot get on Coinbase (Why isn’t Polkadot’s currency rising)?

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Why can\’t Polkadot get on Coinbase? Coinbase is one of the largest cryptocurrenc

Why cant Polkadot get on Coinbase (Why isnt Polkadots currency rising)?

Why can’t Polkadot get on Coinbase? Coinbase is one of the largest cryptocurrency exchanges in the United States and has gained a lot of traffic in recent years. However, when they looked at Coinbase’s platform currency and the projects in the Polkadot ecosystem, they found that Polkadot did not have a trusted user. So, why can’t Polkadot get on Coinbase? Why isn’t Polkadot’s currency rising?

Let’s look at a few reasons:

1. Polkadot (DOT) cannot be listed on Coinbase;

2. Polkadot has some issues: for example, due to a lack of security measures, most nodes are offline and unable to perform on-chain operations; to avoid network congestion, many users choose to use their own validator nodes, but these instabilities can lead to network overload or high transaction costs;

3. Many developers are not familiar with the way they write their code, such as various problems that need to be fixed or solved. This makes it difficult for many teams to put their code in a secure place through auditing, open-source, etc., and it also makes it easy for developers to make wrong judgments.

In addition, there are two factors that may cause the performance of blockchain projects to decline:

1. Because many people have done a specific application on the testnet;

2. Due to the insufficient security of blockchain projects, currently only a small number of applications can run on public chains. So, if you want to continue, you need more complex functions. For public chains like Ethereum, building smart contracts is very difficult because developers have to learn how to build smart contracts from other public chains.

Why isn’t Polkadot’s currency rising?

According to CoinMarketCap data, why is the price of Polkadot not rising? The reason is: First, the market performance has been flat over the past month.

According to CoinGecko data, among the top 100 cryptocurrencies, 7 have risen by more than 10% (most of the rise comes from BTC and ETH). The highest increase is only 1 DOT (about $5), while the other 3 have fallen by about 30% (BNB, ADA, XLM, etc.), and the remaining 2 have experienced a significant pullback but have not been able to stabilize. Second, why isn’t Polkadot rising? Because it itself is decentralized, so its total supply is not large, and its market value is low. Also, unlike ICOs, these coins have not been mined for actual use cases. Third, the tokenized version of the Ethereum 2.0 upgrade by project parties has not yet been launched, which makes it difficult to support the deflationary nature of the Ethereum ecosystem. Fourth, under the DeFi boom, the total value of assets locked up on Ethereum has declined significantly and continues to decline.

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