Polkadot’s XCM Channels Increase by 60%: Intelligence Firm
The market intelligence page Messari shared in a tweet published yesterday that the usage of Polkadot(DOT) cross-consensus message format (XCM) has expanded beyond asset transfers. According to the post, the number of XCM channels increased by 60%. At press time, DOT was changing hands at $5.37 following a 24-hour gain of 1.88% according to CoinMarketCap. Despite the recent increase in DOT’s price, its weekly performance remained in the red at -0.32%. The altcoin not only strengthened against the dollar over the past 24 hours, but also outperformed the two crypto market leaders Bitcoin (BTC) and Ethereum (ETH) during this time period. At press time, DOT was up 0.06% against BTC and 0.96% against ETH. 4-hour chart for DOT/USD (Source: TradingView) DOT’s price had flipped the resistance level at $5.3350 into support over the last 24 hours and had attempted to do the same with the next major resistance obstacle at $5.3951. Bears, however, had stepped in to defend the p...