Polkadot (DOT), which ranks 14th by market value, announced the results for the third quarter of 2023 in its post on its X account.
Polkadot noted growth in its staking service in the third quarter, adding a total of five new parachains and implementing a number of technical upgrades overall.
According to the shared data, a total of 663 million DOT tokens were staked, indicating a growth of 14.7% compared to the second quarter.
Polkadot also stated that the candidate staking pools launched last November attracted great interest and wrote that these candidate pools enabled more than 7 million DOT tokens to be staked.
Developer activity in Polkadot, which is seen as a major rival to the largest altcoin Ethereum (ETH) in terms of speed, scalability and developer activities in the market, has also reached a record level.
At this point, according to github data, more than 49,000 GitHub transactions were recorded in the second quarter.
DOT, which approached $8 in February with the rise it experienced in 2023, is traded at $4.07 at the time of writing, down approximately 50% from its highest level this year.
*This is not investment advice.