The post Polkadot’s $87M H1 spend: Scrutiny on marketing costs appeared on BitcoinEthereumNews.com.

Polkadot’s decentralized web project has been in the spotlight for its aim to unite various forms of blockchains, such as private and consortium chains, public and permissionless networks, and other innovative types. Overall, the project received significant attention during the first half of 2024, with a total cost of $87 million.  Out of this total, the project spent roughly $37 million on advertising and promotion. This has raised concerns among its stakeholders about managing the marketing budget and the operational sustainability of dedicating such a huge amount to marketing techniques. Still, Polkadot remains well-funded, with projections indicating it can run for at least another two years without fundraising if spending stays at the current level of $28 million monthly. The Polkadot community is concerned about whether the high marketing expenses are commensurate with the usage gains the Polkadot network is realizing. As blockchain technology advances, the expectation increases to meet real-world outcomes from significant funding, including in the case of Polkadot. These outcomes are significant not only for investors but also for the integration and implementation of technology in various fields. Polkadot price has surged by 1.5% and now stands at $6.42, following an upswing from a downward trendline this week. This positive movement aligns with some recent Polkadot predictions, suggesting it could be an appealing investment within the range of $5.41–$5.72. If Polkadot continues upward and breaks through the 61.8% Fibonacci retracement level at $6.86, it could go even higher and touch the $7.76 range, further bolstering the positive sentiment surrounding the project. However, there are still some positive trends in the current state of investments that are considered rather unpredictable. If Polkadot’s price falls below $5.41, there is no positive outlook, and it will take a 10% dip. This would shift the market into a bear market and…

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Filed under: News - @ July 2, 2024 9:24 pm