Polkadot (DOT) is a next-generation blockchain platform that aims to enable interoperability between different blockchain networks. It has been gaining popularity and has become one of the leading cryptocurrencies in terms of market capitalization.

After a lacklustre start to the week, the cryptocurrency market was trading substantially higher on Wednesday. Investor confidence was raised by the dovish remarks made by US Federal Reserve Chairman Jerome Powell. Powell claimed that the Fed was succeeding in its battle to control inflation.

Historically, Jerome Powell's remarks have had a big impact on the financial world, notably cryptocurrencies. However, the US Bureau of Labor Statistics reports that the labour market has grown significantly, with January recording the lowest unemployment rate.

Polkadot jumped more than 5 per cent.

Polkadot ($DOT) Leads Development Activity

Polkadot (DOT) was the top project in terms of development activity over the last 30 days, per statistics obtained by G Crypto on Twitter. The project's market value increased by more than 42% to $7.6 billion while the development activity increased by a staggering 40% month over month.

Digital Bank Revolut to Offer Crypto Staking

According to AltFi, Revolut is launching the service this week. The company has about 25 million members worldwide, the majority of them are in the U.K. and the European Economic Area (EEA). The London-based fintech will first enable staking of the Poloniex (DOT), Tezos, Cardano, and Ethereum coins. With cryptocurrency staking, owners of a particular asset donate their tokens to support the operation and upkeep of a blockchain in exchange for a reward.

DOT remains investors’ favorite

DOT’s performance on the metrics front remained in the network’s favor over the last week, which helped it register gains on its chart. On February 6, Polkadot [DOT] published its weekly summary, which highlighted all the significant changes that had occurred in its ecosystem during the previous seven days. Updates for Polkadot's parachains and other networks were also included in the advancements, which weren't just limited to that network.

DOT's one-week price volatility increased considerably as a result of recent market movement. The polkadot price pump was accompanied by an increase in volume. If Polkadot welcomes adoptions and utility, alongside its escalating rise with parachains. The network would witness a rise in sentimental beliefs and volumes. This could propel the dot price coins asset to close the trade for the year at $7.6845.