According to Nonzee, Polkadot’s initial launch was marked by significant enthusiasm and massive financial backing. In 2017, the project raised $144 million within minutes through its initial coin offering (ICO), followed by an additional $43 million in private investment rounds.

By 2021, Polkadot (DOT) was widely regarded as an “Ethereum killer,” with its parachain model offering a new approach to Web3 infrastructure. The project introduced its mainnet in 2020 and parachains in late 2021, featuring shared security and scalability that appeared highly promising on paper.

Despite this strong start, Nonzee points out that the project struggled with adoption. While the network’s design was technologically advanced, it ultimately failed to achieve product-market fit.

Nonzee emphasizes that Polkadot did not deliver a compelling use case or a widely adopted application that could attract and retain users. At its peak, Polkadot’s native token, DOT, reached $55 with a market cap of $50 billion. However, Nonzee asserts that this growth was driven more by speculative hype than by genuine network activity.

Polkadot is dead.

Raised $500M. Promised a revolution.

Now? No users. No devs. No future.

Here’s how one of crypto’s biggest bets faded into a ghost chain pic.twitter.com/XMHElzhOl0

— Nonzee (@0xNonceSense) June 27, 2025

Technical Barriers and Developer Attrition

A significant part of the issue, as outlined by Nonzee, was the difficulty developers faced when building on Polkadot. The network relies on Substrate and Rust, which he describes as not beginner-friendly compared to Ethereum Virtual Machine (EVM) chains.

This technical complexity introduced friction, discouraging many developers from committing to the ecosystem. As a result, developers gradually shifted focus to other platforms that offered a more accessible development environment.

Nonzee also highlights that Polkadot’s architecture created additional confusion. The existence of both Polkadot and Kusama networks, each with its token, left users uncertain about their distinct roles. This confusion, combined with an unintuitive user experience, deterred both users and developers.

The parachain auction model, originally designed to foster network growth, is cited as another critical flaw. Locking DOT tokens for two years to secure parachain slots limited liquidity and hindered project momentum. This model, while innovative in concept, proved unsustainable over time.

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Declining Usage and Governance Challenges

Nonzee’s assessment underscores a steady decline in user activity and developer participation between 2021 and 2025. He notes that by 2025, the network had fewer than 5,000 daily active users across all parachains. Developer numbers also fell sharply from 2,400 monthly contributors in 2022 to nearly half that figure by 2024.

Governance, once considered one of Polkadot’s most ambitious features, failed to sustain its intended impact. According to Nonzee, the system became dominated by whales, and treasury expenditures exceeded $129 million in 2024, with little to show in terms of return on investment. As a consequence, voter turnout decreased and community trust eroded significantly.

A Technological Marvel Without Adoption

Despite the rollout of Polkadot 2.0 in 2024, which introduced improvements, such as async backing, agile coretime, and the JAM protocol, Nonzee argues that these advancements arrived too late to revive the network. The broader market had shifted its attention elsewhere, and DOT’s value collapsed from $55 to under $5 without any meaningful recovery.

In his conclusion, Nonzee remarks that while Polkadot remains a technological achievement featuring reliable components such as XCM and shared security, the absence of users and a compelling narrative renders the network functionally obsolete in its current form. He suggests that unless a real-world killer application emerges to drive adoption, Polkadot will continue to operate as a sophisticated but underutilized infrastructure within the blockchain ecosystem.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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Pizzino believes that these altcoins have consistently underperformed and are unlikely to provide better returns than Bitcoin in the long run.

Pizzino posted on X expressing his views on why investors should exchange underperforming altcoins, including XRP, ADA, and Polkadot (DOT), for Bitcoin.

Pizzino’s advice comes at a time when both tokens have struggled in the market. XRP, for example, is priced at $0.54, reflecting only an 11% increase in the past year.

In contrast, Bitcoin has surged 147.58% within the same period, leading Pizzino to suggest that investors could benefit from shifting their focus to Bitcoin.

He described these altcoins as “laggards” and noted that they have consistently underperformed compared to Bitcoin.

Many investors holding these assets have been frustrated by their failure to live up to expectations, especially those who anticipated price rebounds but have instead seen continued stagnation.

Despite these challenges, some investors have expressed reservations about Pizzino’s recommendation. One investor pointed out that selling XRP at its current price could lead to regret, as the asset may be near its lowest point.

Historical trends also show that during past market cycles, altcoins often experienced significant gains after Bitcoin led the market.

For instance, XRP saw a 60,000% surge in 2017, reaching a high of $3.31 during the altcoin season following Bitcoin’s initial rally.

However, Pizzino countered these concerns, arguing that XRP has been on a consistent downtrend for the past seven years, making a rebound unlikely in his view.

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Alternative Perspectives on Altcoin Performance

Vandell Aljarah, the host of The Black Swan Capitalist, responded to Pizzino’s views with a different perspective.

He acknowledged that while Bitcoin may provide stable growth, altcoins like these have the potential for much higher percentage gains during bull markets. Sometimes offering tenfold or greater returns, compared to Bitcoin’s more modest increases.

He suggested that Pizzino’s analysis overlooks the explosive potential of altcoins during favorable market conditions, which could result in greater profits for investors willing to hold on to their altcoin positions.

Crypto enthusiast Silver Khamesi shared similar views, explaining that despite her significant losses in XRP and ADA, she remains hesitant to sell.

She noted that while Bitcoin could double or triple in value, the altcoins could see much larger returns during a bull run.

Pizzino’s Long-standing Criticism 

Pizzino’s critical stance on these two altcoins is not new. He has consistently expressed skepticism about these altcoins’ ability to deliver substantial returns.

He previously mentioned that XRP would need to outperform several other top altcoins before making any notable gains, a scenario he finds unlikely.

He has also pointed to the token’s long-term underperformance since its peak of $3.31 in 2018, characterizing it as being in a losing position for several years.

In June, Pizzino questioned whether ADA could achieve significant growth, expressing doubt that the altcoin would see a fivefold increase. He even suggested that certain meme coins could offer better returns than Cardano shortly.

While Pizzino maintains that Bitcoin is the superior long-term investment, other voices in the crypto space, such as Vandell Aljarah, argue that altcoins may still offer high returns in the right market conditions. Investors face the choice of either following Pizzino’s advice or holding out with the hope of a future altcoin rally.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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In a new blog post, Schoenberger informed the SEC that Polkadot (DOT) has morphed from security into software and can no longer be classified as an asset in the securities watchdog’s jurisdiction.

Read Also: Grayscale Launches Smart Contracts Platform Fund for Cardano, Solana, Polkadot, Avalanche, Stellar

Although DOT could be termed as a security at first, he said the team behind it has worked hard on its transformation.

Regarding the Polkadot development team’s experience with the regulatory agency, Schoenberger said the SEC was open and willing to communicate. He added that this has led to the creation of solutions to the issues the agency may have had with the transformation of DOT.

Daniel Schoenberger noted:

“Over the years, we have developed what we believe is a workable theory of how token morphing may be achieved for an increasingly decentralized project, like Polkadot, and a digital asset that, other than having been offered and sold initially for fundraising purposes, does not, itself, bear security-like characteristics…

“Consistent with the views that we have shared with the SEC staff, we are pleased to announce that DOT, the native digital asset of the Polkadot blockchain, has morphed. In our view, current day offers and sales of DOT are not securities transactions, and DOT is not a security. It is merely software…

Read Also: Polkadot (DOT) Is Top Altcoin Held by VCs and Hedge Funds in Fourth Quarter Of 2021

“Whatever it took in order for DOT, the native token of the Polkadot blockchain to be – or to become – a non-security, we were willing to do it. And so, we decided to try to take the SEC’s FinHub staff up on the offer to ‘come in and talk to us’…

“Our experience has been a positive one. The SEC has welcomed meetings with the Web3 Foundation, and there has been a spirit of open communication and dialogue. Those ongoing interactions have given us a deeper understanding of some of the SEC’s concerns and have helped us to develop solutions to address them.”

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In the May 2022 report published by CoinShares, as investor dollars allocated to Ethereum (ETH) move in the opposite direction,  it’s stated that the aforementioned digital assets (XRP, ADA, and DOT) continue to attract more investors.

Read Also: CoinShares: Ethereum Competitors, Cardano, Solana, Polkadot See Institutional Inflows

The report reads in part:

While positions on Bitcoin have changed little, investors are increasingly adding to altcoins. The survey highlights increasing allocations to Polkadot, Cardano and XRP at the expense of Ethereum.”

The CoinShares’ May 2022, which was conducted among investors managing relatively $200 billion worth of assets, about 20% of the investors have allocated to Ethereum (ETH), down from relatively 25% recorded during the March 2022 survey.

As for Ripple’s digital token XRP, the number of investors allocating funds to it has gained around 6% from about 4% registered in the previous month’s survey.

Whereas, the investors’ allocation to Cardano (ADA) rose from 5% to about 12%. While that of Polkadot (DOT) has increased from around 9% to about 13%.

Read Also: Bitcoin, Ethereum, XRP, Cardano Experience Institutional Capital Inflows amid Geographical Risks

As stated in the survey, the reasons they chose to invest in crypto assets include diversification and speculation:

“We saw a big rise in investors adding to positions for speculative reasons, having risen from 20% to 27%.

Diversification remains a key reason for investing in digital assets, although it has declined, likely due to Bitcoin’s increased correlation to tech stocks and skepticism over its true diversification merits.”

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According to Messari’s analysis, Polkadot (DOT) was the most commonly held altcoin in the fourth quarter of 2021, as 24 out of 57 tracked funds invested in the blockchain project, representing about 42% of crypto held by VCs and hedge funds in Q4 2021, followed by Oasis Network (ROSE) and Near Protocol (NEAR).

Read Also: Morgan Stanley: Ethereum May Lose Market Share to Cheaper Competitors Such As Solana, Cardano, Polkadot

Currently, Polkadot (DOT) is the 12th largest cryptocurrency with a market cap of $17.5 billion and trading at $17.68, with a relatively 4% price upsurge in the last 24 hours, according to CoinMarketCap.

It’s worth noting that the cryptocurrency has lost over 50% of its all-time high price of $54.5, which was attained in November 2021.

The analysis did not include Bitcoin (BTC) and Ethereum (ETH), as Messari assumes most VCs and hedge funds hold a huge amount of the two largest digital currencies.

Nodle Network Wins Polkadot’s 11th Auction

As announced a couple of hours ago, Nodle, a crowdsourced decentralized IoT network, won Polkadot’s 11th auction.

According to the report shared via the official Twitter of Polkadot blockchain, Nodle will be onboarded at block number 9,388,800, which is estimated to take place today 11th March 2022.

Read Also: Polkadot Founder Donates $5M in DOT as Ukraine Ready for Airdrop after Receiving $33M Crypto Donations

Polkadot tweeted, “Congratulations to Nodle Network 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!”

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

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The country, through its official Twitter handle on 26th February, requested the support of the crypto community in donations. Bitcoin, Ethereum, and USDT addresses were provided. And millions of dollars worth of cryptocurrencies have been donated.

Ukraine tweeted, “Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT. BTC – 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P ETH and USDT (ERC-20) – 0x165CD37b4C644C2921454429E7F9358d18A45e.”

Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT.

BTC – 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P

ETH and USDT (ERC-20) – 0x165CD37b4C644C2921454429E7F9358d18A45e14

— Ukraine / Україна (@Ukraine) February 26, 2022

Ukraine Announced Support for Donations in Polkadot (DOT)

A couple of hours ago, Ukraine, via its official Twitter handle announced support for Polkadot (DOT) donations, assuring that more cryptocurrencies will be accepted soon.

“The people of Ukraine are grateful for the support and donations from the global crypto community as we protect our freedom. We are now accepting Polkadot donations too: $DOT: 1x8aa2N2Ar9SQweJv9vsuZn3WYDHu7gMQu1RePjZuBe33Hv. More cryptocurrencies to be accepted soon.”

The people of Ukraine are grateful for the support and donations from the global crypto community as we protect our freedom. We are now accepting Polkadot donations too: $DOT: 1x8aa2N2Ar9SQweJv9vsuZn3WYDHu7gMQu1RePjZuBe33Hv.
More cryptocurrencies to be accepted soon.

— Ukraine / Україна (@Ukraine) March 1, 2022

Gavin Wood Donates $5 Million Worth of DOT

Ukraine has officially appreciated the founder of Polkadot (DOT), Gavin Wood, for donating $5 million worth of DOT as promised.

Ukraine tweeted, “The people of Ukraine fighting for our freedom are forever grateful to Gavin Wood @gavofyork for the generous donation of $5M of Polkadot $DOT as promised publicly. Thank you from all of us here in Ukraine working for a peaceful future.”

The people of Ukraine fighting for our freedom are forever grateful to Gavin Wood @gavofyork for the generous donation of $5M of @Polkadot $DOT as promised publicly. Thank you from all of us here in Ukraine working for a peaceful future

— Ukraine / Україна (@Ukraine) March 1, 2022

Ukraine Says ‘Airdrop Confirmed’ After Receiving $33M Crypto Donations

Ukraine will conduct an airdrop to donors that have contributed money to its official crypto addresses, the country said on Wednesday through its official Twitter account.

“Airdrop confirmed. Snapshot will be taken tomorrow, on March 3rd, at 6 pm Kyiv time (UTC/GMT +2 hours). Reward to follow!,” the tweet read.

Airdrops involve crypto projects sending free tokens en masse to their communities in a bid to encourage adoption. As earlier reported by CoinDesk, the country has received $33 million in crypto donations so far.

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According to the report, the newly launched ETPs will enable both retail and institutional investors to seamlessly gain exposure to Polkadot (DOT) and Cardano (ADA) such as buying shares from banks or brokers.

Read Also: CoinShares: Ethereum Competitors, Cardano, Solana, Polkadot See Institutional Inflows

Reacting to the new development, Tommy Fransson, CEO of Valour, said, “We are expanding our product offerings in the large German market through these listings on Boerse Frankfurt. In Scandinavia, where Valour Polkadot and Cardano are already listed, we have seen a big interest in these crypto assets. We look forward to empowering more investors throughout Europe to have access to leading industry ETPs.”

How Does It Work?

According to the report, the Valour Polkadot (DOT) and Valour Cardano (ADA) precisely track the performance of the digital tokens DOT and ADA respectively. Valour’s Polkadot ETP and Valour’s Cardano ETP make investments in the leading decentralized platforms simple, secure, and cost-effective.

The report further added that Valour offers fully hedged digital asset ETPs with low to zero management fees, with product listings across four European exchanges.

Read Also: Cardano Beats Bitcoin and Ethereum in Terms of Transaction Volume

Polkadot (DOT) and Cardano (ADA) are joining a number of Valour’s existing products, such as Valour Uniswap (UNI), Solana (SOL) ETPs, Bitcoin Zero, and Valour Ethereum Zero products.

According to DeFi Technologies, the products target retail and institutional investors who are seeking exposure to Polkadot and Cardano networks. As aforementioned, by trading the products, the investors will possess the ability to buy shares conveniently.

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In this regard, a report by blockchain analytics firm Messari revealed that 21 of the world’s 53 most prominent fund managers actively invested in Polkadot (DOT) last year, making it one of the most sought-after assets, followed by other DeFi/alt tokens such as Near Protocol (NEAR), Terra (LUNA).

Read Also: Polkadot Parachains Finally Launches. What Does This Mean to Ethereum’s Economic Slavery?

One of the core reasons behind Polkadot’s growing dominance is the fact that the platform lays a high degree of importance on cross-chain interoperability, an aspect of crypto-tech that most experts believe will continue to define the future of the crypto ecosystem.

In terms of Polkadot’s native operational design, the project makes use of a unique concept referred to as Parachains, which allows it to support multiple layer-1 blockchains running in conjunction with its central chain.

Read Also: Analyst Unveils Potential Breakout Points for VeChain (VET), Polkadot (DOT), and Polygon (MATIC) in 2022

The setup is able to mitigate many of the transactional congestions being faced by prominent projects such as Ethereum, whose gas fee rates have continued to remain quite steep at around $40 on average despite the platform undergoing a number of upgrades over the past year, especially Ethereum Improvement Proposal (EIP) 1559 that was implement along with London hard fork back in August 2021.

Not only that, with the delay in the implementation of Ethereum 2.0, the ecosystem is only able to process around 30 transactions per second (TPS) in its current iteration, which is substantially lower than Polkadot’s current running capacity of 170 TPS.

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In a new strategic session, Bennett stated that the supply chain management platform, VeChain (VET), is potentially gathering momentum for a potential breakout in 2022.

Read Also: VeChain’s MyBaby Has Been Announced as a National Innovation Project by the Cyberspace Administration of China

Justin Bennett noted:

“This is one scenario I’m playing with right now is, potentially, the idea that VET has formed this triangle pattern here over really the entire year. So if that is the case and we see VET stay above this area down here, right around $0.07, maybe just above it, this could play out. We could just see a market that consolidates this way here, comes up, retest resistance ($0.15) and then potentially we get a breakout in 2022.”

Another crypto in Bennett’s radar is Polygon, a scaling solution designed to enable the mainstream adoption of decentralized apps on the Ethereum network.

Read Also: Michaël van de Poppe Outlines Next Path for VeChain (VET), Polygon (MATIC) and Harmony (ONE)

According to the analyst, Polygon’s native token, MATIC, is trading within an ascending channel and must take out a strong resistance area to continue its uptrend. He said a convincing move above $2.70 on the daily chart could potentially send MATIC between $4 and $4.50:

“Ultimately, anytime a market is testing its all-time high and also carving higher highs and higher lows like this, it is technically a bullish structure to the market. But at the same time, you have to understand that $2.70 is a confluence of resistance and therefore, it’s going to be a very strong level in that MATIC needs to get above it on a daily closing basis to flip that area to support.”

Read Also: Shell Becomes the First Parachain to be added to Polkadot Network

The last on Bennett’s list is Polkadot, a project that connects multiple blockchains into one unified network, allowing users on different blockchains to send and receive transfers of any type of data or asset. According to the analyst, DOT must reclaim a key price level to reverse its bearish trend.

“The only thing to reverse a downtrend, which is just a series of lower highs and lower lows, the only thing to reverse that is the opposite – so higher highs and higher lows. So we need to see the market break the [diagonal] trendline, come up here, take out $31 to $32, close above that, flip it to support and then move toward $38.”

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Polkadot (DOT) founder, Gavin Wood, has previously opined that the launch of parachains has the potential to free people from Ethereum’s economic slavery.

Read Also: Shell Becomes the First Parachain to be added to Polkadot Network

Ethereum, the largest smart contracts platform, has been facing a lot of issues related to high fees and slow transactions. Wood believes Polkadot comes with the idea of parachains to solve the major issue for users.

The new feature has been in development for relatively five years and launched after the first parachain auction was completed in November.

Reacting to the importance of candle auction for Polkadot, Gavin Wood said, “there’s real competition, and this is really what we want with the auction… It’s something that wouldn’t really have happened in a traditional auction, where they would have kept very low, all the way until the end, and then they would have put everything that they had in as late as possible.”

The five parachains launched are as follows: Acala, Moonbeam, Parallel Finance, Astar, and Clover. According to the report, all the chains have different use cases and will be running parallel to each other. Also, all the chains will occupy their parachain slots for 96 weeks.

Read Also: Michaël van de Poppe Outlines What Is Next For Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Polkadot (DOT)

Why Is Parachain Important

According to Wood, the inefficiency of blockchains for certain applications calls for the launch of the parachains:

“No single blockchain design works optimally for every use case. Each chain comes with trade-offs making it good for some applications and not others. The parachain model was created with the belief that the future of Web 3 will involve many different types of blockchains working together.”

A framework is already in place for Polkaldot to support about a hundred parachains. In the future, Polkadot intends to give out more slots via parachain auctions or governance-enabled common-good parachains.

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