Polkadot Stalls Below $4.5 Even After Agile Coretime Launch: Whats Going On?

Polkadot (DOT) needs help at spot rates. When writing, DOT is still trading below $4.5 despite the broader recovery. Bitcoin and Ethereum, for example, are trading above local resistances now support, at around $60,000 and $2,400, respectively. DOT Struggling, Bulls Capped Below $4.5 A look at the DOT price action in the daily chart reveals that the coin is trending inside the September 14 to 18 bear range. Even though there were gains on September 18, which has since acted as the base for the current swing high, bulls are not capitalizing on the momentum. Related Reading: SUI Eyes Potential Pullback As RSI Flashes Warning: $1.4 Retest In Sight The immediate liquidation level, marking September 15 highs, is $4.5. If broken, it could trigger a wave of demand that may be the building blocks for more gains, extending the current 18% rally from September lows. Interestingly, DOT bulls are slow to tap into the improving crypto sentiment and break this resistance level. This underwhelming performance also comes even after the introduction of Agile Coretime. According to Polkadot developers, this feature is a crucial component of the next network phase, Polkadot 2.0. Agile Coretime Out As Developers Prepares For Polkadot 2.0   The Agile Coretime rollout, released last week, introduces multiple features that will benefit developers and protocols launched on the platform. Top of the list, developers said Agile Coretime introduces even more flexibility. This is because the feature permits projects to access network resources as needed. They won’t have to be locked into a fixed slot like before. Additionally, Agile Coretime seeks to push scalability higher. To do this, the feature enables adaptable core allocation. Subsequently, higher network efficiency allows the platform to support even more diverse applications. Agile Coretime sets the ball rolling for the eventual activation of Polkadot 2.0. This upgrade sets the stage for overhauling the current resource allocation model, making it more market-driven. Related Reading: Fed Rate Cuts Spurs $1.6 Billion Bitcoin Buying Spree Among Whales, Can BTC Reach $70,000? Moreover, developers will be looking to introduce Asynchronous Backing, which seeks to separate the Relay Chain, which is core to Polkadot and Parachains. The idea is to improve efficiency and drive scalability. Though developers are lining up major developments, DOT is lagging and trending near 2024 lows. DOT’s performance will largely depend on the general market sentiment and Bitcoin or Ethereum’s performance. DOT will likely benefit if these coins break their respective all-time highs in the coming weeks. Feature image from iStock, chart from TradingView

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ChatGPT Analyzes Which Altcoin Will Perform the Best by 2024s End (Hint: its Not Ripple (XRP))

Here are the six alternative coins that can perform the best in the following months (according to ChatGPT).

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Polkadot (DOT) Bulls Push Toward $4.8 Resistance, Breakout Ahead?

Polkadot (DOT) has been gaining significant bullish momentum, with its price steadily approaching the critical resistance level of $4.8. This upward movement suggests a strong presence of positive sentiment in the market. As DOT nears this key resistance, speculations are about whether the bulls can maintain their dominance and drive the price higher. A successful breakout above $4.8 could signal the beginning of a new bullish phase, potentially leading to further gains. However, failure to break this level might result in a pullback. This article analyzes DOT’s recent price action and its approach to the critical $4.8 resistance level. With the help of technical indicators, it will evaluate the significance of this resistance, assess market sentiment, and predict potential future movements, including the likelihood of a breakout. DOT was trading at around $4.73 and has increased by over 3.58% with a market capitalization of over $6.9 billion and a trading volume of over $200 Million as of the time of writing. In the last 24 hours, the assets market cap has increased by more than 3.61%, while its trading volume has increased by more than 7.46% Market Sentiment: Are Bulls In Control? Currently, the price of DOT on the 4-hour chart has been on a bullish move following a rejection at the $3.5 support mark. It is now advancing toward the $4.8 resistance mark and the 100-day Simple Moving Average (SMA). Since breaching this key resistance level, the digital asset has shown a consistent upward trend, indicating that the bulls are gaining control and could drive the price even higher. Additionally, an analysis of the 4-hour Relative Strength Index (RSI) shows that the signal line of the indicator has successfully risen above 50% and is currently heading to 60%, suggesting that buying pressure is increasing and the asset might experience further upward movement. On the 1-day chart, although DOT is still trading below the 100-day SMA, it has successfully printed three bullish momentum candlesticks approaching the $4.8 resistance level. This indicates that the bulls remain in control, which could help trigger a rally for DOT. Finally, on the 1-day chart, the RSI signal line is ascending from the oversold zone toward 50%, further supporting the potential for a continued rally and indicating that the bulls are gaining control over the bears. Conclusion: Will DOT Break Through Or Face Rejection? In conclusion, as DOT’s price approaches the $4.8 resistance level, it could either break through or encounter a rejection. A breakthrough above the $4.8 resistance level, DOT might continue its bullish move to challenge the $6.2 resistance level. Once it breaks below this range, the digital asset may move further to test the $7.7 level and probably other key levels afterwards. Meanwhile, if DOT encounters rejection at the $4.8 resistance level, it may start to decline toward the $3.5 support level. Should the price fall below this support, it could drop more to test the $1.9 support point, potentially creating a new low if this level is breached. Featured image from Adobe Stock, chart from Tradingview.com

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Polkadot (DOT) Seen Reversing Losses With 116% Rally To $10 Analyst

Polkadot token DOT has indeed been hot on the cryptocurrency market throughout the week, appreciating over 21%. Despite the gains bringing further enthusiasm among the investors, the token pressed on higher and continues to trade at $4.65 with a market capitalization of more than $6.6 billion. Now ranking 17th in the largest cryptocurrencies, investors and DOT aficionados cannot stop wondering if it can sustain its momentum. Related Reading: Solana Rockets Up 23% As Developments Spark Investor Interest Something is literally now hyping in the air, particularly after the analysis of the popular crypto analyst known as “Zayk Charts.” The analyst observed a falling wedge pattern on the 2-day chart for DOT/USDT, and it could truly be a game-changer. $DOT Falling Wedge Formation in 2D Timeframe Incase of Breakout,Next Target wil be $10#DOT #DOTUSDT #Polkadot #Crypto pic.twitter.com/xgqyjAN4ul ZAYK Charts (@ZAYKCharts) August 11, 2024 This is usually a bullish sign and gets more than 70% ripeness for triggering a trend reversal of the negative variety. If DOT breaks out of this wedge, Zayk Charts predicts it could shoot straight up and target a price as high as $10. Polkadot ‘Greed’ Factor While the technical analysis looks good for DOT, when we overlay the sentiment, it only makes things more complex. Polkadot’s Fear and Greed Index recently shifted into a “Greed” phase. What does it mean? In plain words, investors are getting excitedmaybe a little too excited. The “Greed” phase usually means that it is creating an irrational stage in bullish investors’ minds, where they just think prices are to go up and never go down. While being great for short-term gains, there’s a catch. Too much greed inflates prices higher than they are truly worth, hence creating a bubble. While the “Greed” period, of course, introduces on the radar screen strong market performance, it also carries with it red flags toward a possible market correction. In short, would we have to face a bubble, or is it just the beginning of an upward long-term trend? Technical Analysis: Falling Wedge And Breakout Potential Back to the technical front. The falling wedge pattern is very important, and Zayk Charts marks it accordingly. Technically, this pattern is known to be a bullish reversal pattern. It forms when the price of a coin trades lower but with the rate of decline decreasing, which then results in the formation of a converging trend line. A breakout from this pattern usually results in a massive price increase. Breaking out of this wedge could be the key to $10 for DOT, which means a 116% increase for the altcoin. That would be a huge comeback for the cryptocurrency, a move that would easily regain investors’ confidence and re-cement Polkadot’s status as a force to reckon within the market. Like any other prediction done in the highly unpredictable world of crypto, however, this also comes with no guarantees. Related Reading: Fantom (FTM) Poised For Massive Bull Run, Analysts 234% Rally Prediction Raises Eyebrows Price Forecast And Investor Outlook On a broader perspective, DOT still hovers with very positive sentiments. According to data from CoinCheckup, the DOT token is poised for an upsurge in strength. The platform gave a forecast that, in the coming three months, it would climb up by 245%. Should such an event ensue, this would be a massive comeback for the token. But that’s not all. In the coming six months, Polkadot is projected to climb 180%, and in a one-year time span, it is expected to rise 166%. Featured image from Host Merchant Services, chart from TradingView

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Polkadot Under Fire: 20% Price Drop Follows $87 Million Spending Outrage

The winds of change are swirling around Polkadot (DOT). After a month-long slump that mirrored a broader cryptocurrency market downturn, DOT finds itself at a critical juncture. Technical indicators hint at a bullish reversal, with some analysts predicting a significant price surge for the interoperable blockchain darling. However, a recent spending spree by the Polkadot Foundation has cast a shadow of doubt, leaving the community divided. Falling Wedge Hints At Breakout, Analysts Eye $9 Target As technical analysis presents a potentially hopeful picture, DOT holders’ hope wavers. On the daily chart, a “falling wedge” patternhistorically a bullish indicationhas been observed. This pattern suggests a price squeeze between converging trendlines, often culminating in a sharp breakout. Related Reading: Bitcoin Examined: These Critical Points Are Very Bad For BTC, Analyst Says Renowned analyst Jonathan Carter pinpoints $6.50 as the key resistance level. A decisive break above this point could trigger a surge in buying pressure, propelling DOT towards his projected profit targets of $7.75 and even $9.00. #DOT Polkadot forming falling wedge on daily timeframe Key resistance at $6.5 – need to break for bullish structure Consider setting profit targets at $7.75 and $9.00 levels pic.twitter.com/OwPVFaPZyD Jonathan Carter (@JohncyCrypto) July 3, 2024 The falling wedge pattern and increasing trading volume suggest a potential breakout is imminent. A successful breach of the $6.50 resistance could signal a significant shift in market sentiment, paving the way for a substantial price increase. Buoying this optimism is the Relative Strength Index (RSI), currently hovering around 48.65. This neutral level indicates that DOT is neither overbought nor oversold, leaving room for further upward momentum. Polkadot Foundation’s Spending Spree However, a recent spending spree by the Polkadot Foundation has injected a dose of skepticism into the bullish narrative. Earlier this year, the Foundation burned through a staggering $87 million, leaving its coffers with a significantly reduced balance. The breakdown reveals $36.7 million allocated for advertising and events, $15 million for trading platform incentives, and $23 million for development. While the Foundation maintains these investments are crucial for boosting network visibility and adoption, community members are not convinced. Many point out that despite the hefty spending, Polkadot continues to lag behind competitors like Ethereum and Solana in key metrics like network activity, developer engagement, and total value locked (TVL). Related Reading: Worldcoin Sentiment Improves, But March Highs Remain A Distant Dream The spending seems excessive, especially considering the lack of tangible results, some community members on the Polkadot forum said. The blockchain needs to see a better return on investment before the Foundation throws more money at marketing campaigns, they said. Will Spending Concerns Spook Investors? The coming days will be crucial for DOT. If the technical indicators hold true and the price breaks above $6.50, a significant rally could be in the cards. However, the community’s concerns about the Foundation’s spending habits cannot be ignored. If these concerns translate into a broader sell-off, the potential breakout might fizzle. Featured image from Shutterstock, chart from TradingView

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Polkadot Treasury Faces Impending Funding Crisis: Limited To 24 Months Before Exhaustion

The recent report released by the Polkadot Treasury for the first half of 2024 has raised concerns over an impending funding crisis. The report indicates that the Treasury’s assets, spread across multiple chains, have become increasingly complex and challenging to manage effectively.  Decentralized finance (DeFi) researcher DeFi Ignas has analyzed the report, highlighting the Treasury’s [...]

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Polkadot Can Target $10 Next, but Heres the Catch (DOT Price Analysis)

Polkadot faces a significant challenge in reclaiming a decisive resistance region encompassing the $7.5 mark, the 100-day moving average, and critical Fibonacci levels. This resistance range can potentially halt upward pressure in the short term. Technical Analysis By Shayan The Daily Chart A comprehensive daily chart analysis highlights Polkadot’s prolonged struggle to breach a crucial […]

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Polkadot (DOT) Forms Rising Wedge Pattern, Bullish Or Bearish?

Polkadot (DOT), a popular cryptocurrency in the blockchain space, has been making waves with its innovative approach to interoperability and scalability. However, like any financial asset, its price movement is subject to various technical analysis patterns, one of which is the rising wedge chart pattern. The formation of a rising wedge pattern on DOT’s price chart suggests that despite its recent upward trajectory, there could be a downturn on the horizon. Traders and investors often watch for confirmation signals such as a break below the lower base of the wedge to confirm the pattern’s validity and anticipate potential selling pressure. Currently, the price of DOT is down by -0.13%, trading at about $7.13, with a market capitalization of over $10 billion and a trading volume of over $153 Million as of the time of writing. Although its market capitalization is down by 0.39%, its trading volume is up by 0.34% in the past day. With the help of the 100-day Simple Moving Average (SMA), and Relative Strength Index (RSI), this analysis was carried out using both the 4-hour and daily timeframe. Analytical View Of DOT’s Current Price Condition Currently, in the 4-hour chart, DOT is still moving in a consolidation manner, with the upper base and the lower base of the wedge building up momentum below the 100-day simple moving average. The 4-hour relative strength index is signaling that the price of DOT might break below the lower base of the wedge as the RSI line is seen trending a bit below the 50% level. From this RSI formation, it can be suggested that if DOT breaks below the wedge, it will begin to move downward toward the closest key support level. Meanwhile, in the 1-day chart, DOTs price is seen trending within the wedge but close to the lower base. The 1-day RSI also suggests that DOT might go bearish as the RSI line is attempting to cross below the 50% level. From this RSI formation, it is advised that investors should watch out for a break below the wedge before taking any sell positions. Potential Price Action In The Event Of A Breakout Presently, the crypto assets price is still moving within the wedge, and DOT will begin to decline in the direction of the $4.8 support level in the event that there is a breakout below the wedge. If the price falls below the aforementioned level, it might perhaps fall further to test the $3.5 support level. On the other hand, if the price reverses course and breaks above the wedge’s upper base, it will begin to rise toward the $9,8 resistance level. Should it break above this level, Polkadot will go higher to test the $11.9 resistance level. In addition, DOT might see a stronger rise to test more significant levels if it closes above $11.9. Featured image from Adobe Stock, chart from Tradingview.com

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Is Polkadot Preparing For A 100% Surge And Spike Above $20?

Polkadot, the interoperable blockchain, remains one of the largest and most popular networks in the top 20. At press time, DOT, the platform’s native currency, is 14th, ahead of Tron and the NEAR Protocol. However, despite recent gains, it is still down 87% from all-time highs, undeniably facing a brutal market correction. Even with this bearish sentiment, a wave of optimism is building around DOT’s future. Taking to X, one analyst thinks not only will the coin shake off weakness but will surge, rallying to over $20 in the coming months. Related Reading: Crypto Guru Unveils Best Altcoins To Buy Now This confidence, the analyst said, will be primarily because of crucial developments in the broader Polkadot ecosystem. Eyes On Polkadot 2.0, Better On-Chain Governance Of the many, the analyst thinks the upcoming Polkadot 2.0 upgrade will be a game-changer. Already, Polkadot is interoperable and scalable. However, once the new upgrade comes into play, the platform’s developers expect the network to be more interoperable, scalable, and with better governance. Specifically, to address scalability, they will eliminate the Parachain slot auction and introduce the concept of coretime. This feature will give developers more flexibility. Instead of bidding and locking resources in the auction, they must purchase block space dynamically as needed. This will improve resource allocation, leading to more accessibility and efficiency. Additionally, Polkadot developers are introducing the OpenGov system for more decentralized governance. The objective here will be to give all DOT holders a voice in decision-making, which is crucial in decentralized networks. JAM Upgrade Proposal Passed, Will DOT Bulls Break $8? The network is also preparing for more changes. The community recently approved the Join-Accumulate Machine (JAM) chain. The proposal, which was unanimously passed by the community, paves the way for developers to build services similar to Ethereum smart contracts directly on the Polkadot Relay Chain. Gavin Wood, the former Ethereum developer who introduced the proposal, said this would make the network more accessible. Related Reading: Notcoin Unstoppable! Token Soars Over 400%, Blazes New All-Time High Beyond network-related upgrades, the analyst also said that more DOT’s are being locked, which is a huge boost. Usually, with staking, coins are taken out of circulation, increasing scarcity. If more activity and the demand for DOT increases, it would positively impact the price, helping lift it from the current ranges. As of June 3, over 1.4 billion DOT were in circulation. By the fourth week of May, over 820 million DOT had been staked. Looking at the price chart, if the coin breaks above $8, the incentive to stake and early rewards plus capital gains will increase. Feature image from Canva, chart from TradingView

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Calm Before the Storm: DOT Ready to Rally to $9? (Polkadot Price Analysis)

Polkadots price has been consolidating over the past couple of months, following a steep decline in early April. Yet, things might be changing for the better. Technical Analysis By TradingRage The Daily Chart On the daily chart, the cryptocurrency has been range-bound inside a rising wedge pattern. This is a classical bearish reversal or continuation […]

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Crypto Price Analysis June-29: ETH, XRP, ADA, DOGE, and DOT

This week, we take a closer look at Ethereum, Ripple, Cardano, Dogecoin, and Polkadot. Ethereum (ETH) Ethereum fell by 3% this week, and buyers appear to struggle to defend the key support at $3,500. So far, they have managed to prevent a breakdown. If sellers maintain the pressure, ETH could have a difficult week ahead. […]

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Crypto Price Analysis June-15: ETH, XRP, ADA, DOGE, and DOT

This week, we take a closer look at Ethereum, Ripple, Cardano, Dogecoin, and Polkadot. Ethereum (ETH) Ethereum lost its bullish momentum this week and closed it with a 4.4% loss. Sellers took over the price action and pushed this cryptocurrency to the key support at $3,500. However, this pullback could turn out to be a […]

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Polkadot (DOT) In Freefall: Will It Recover Or Hit Rock Bottom?

Polkadot (DOT), a prominent player in the blockchain ecosystem, is currently experiencing a dramatic decline, prompting a bearish alert. The cryptocurrency is in freefall, with its price plummeting towards new lows. A combination of market-wide volatility, negative investor sentiment, and regulatory pressures fuels this sharp downturn. As DOT’s value continues to erode, investors are advised to brace for further losses and reassess their strategies in light of these bearish signals. In this analysis, we will dive into Polkadot’s price prospects with the help of some technical indicators focusing on the 1-hour and the 4-hour timeframe. DOT Price Still Actively Bearish DOT’s price on the 4-hour chart did a retracement after a break from the previous bearish triangle wedge and began to drop again. Although the price currently is attempting to move up, the reality is that it will continue to drop afterward. The formation of the 4-hour Composite Trend Oscillator also suggests that the price of DOT may still drop as the signal line and Simple Moving Average (SMA) of the indicator are currently trending close to the oversold zone. Also, on the 1-day chart, DOT is attempting a bullish move below the 100-day SMA after dropping a bearish candlestick on the past day. Based on the 1-day price formation, it can be suggested that this bullish move that DOT is making is just on a short-term note. Lastly, the 1-day Composite Trend Oscillator on the daily chart signals that DOT’s price is still actively bearish as both the signal line and SMA have crossed below the zero line and are heading towards the oversold zone. More Losses Ahead? In conclusion, Polkadot is currently in a precarious position as it experiences a sharp and sustained decline, triggering a bearish alert. Therefore, if the price of DOT continues to drop, it might move towards the $4.809 support level. And if it breaks below this level it will drop further to test the $3.542 support level and probably other key levels afterward. However, if DOT decides to continue its move in the upward direction, it will begin to move toward the $7.701 resistance level. Should it move above this level, it will move higher to test the $9.805 level and probably go bullish to test other key levels. As of the time of writing, DOT was trading at around $6.23 and was down by 2.58% with a market capitalization of over $8.9 billion and a 24-hour trading volume of over $204 million. Although its market capitalization is down by 2.52%, its trading volume has increased by 19.08% in the past day. Featured image from Adobe Stock, chart from Tradingview.com

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Is the Worst Over for DOT or More Pain to Come? (Polkadot Price Analysis)

Polkadot’s price has been consolidating sideways near the critical resistance region around the $6.5 threshold. A slight bullish reversal might occur in the short term due to the potential heightened demand near this pivotal level. Technical Analysis By Shayan The Daily Chart The daily chart shows Polkadots bearish momentum faded after reaching the substantial support […]

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What Can We Expect from the Polkadot Price in the Near Future? (DOT Price Analysis)

Polkadot buyers were unable to surpass the critical resistance at $7.5, resulting in a significant 7% decline due to increased selling pressure. The cryptocurrency has now reached a decisive support level, and the upcoming price action will be crucial in determining Polkadot’s future trend. Technical Analysis By Shayan The Daily Chart A detailed daily chart […]

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Is Polkadot Bound for a Massive Move Following Consolidation Around $7? (DOT Price Analysis)

Following a bounce from the lower boundary of the current price range at $6.4, Polkadot experienced a surge, reaching the upper threshold, coinciding with a significant resistance area. Consequently, a slight rejection is anticipated, with the price targeting the lower part of the range. Technical Analysis By Shayan The Daily Chart Upon close examination of […]

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Polkadot (DOT) Prints Classic Bullish Falling Wedge Big Breakout Imminent

In an update on X, crypto analyst Jascrypto pointed out that Polkadot (DOT) is currently forming a textbook bullish falling wedge pattern on the daily chart. This technical setup is often associated with a potential trend reversal, signaling the end of a downtrend and the beginning of a bullish breakout. As DOT continues to consolidate within the narrowing bounds of the wedge, market participants are starting to take notice. The structure suggests that bearish momentum may be weakening, allowing buyers to step in. With volume expected to increase upon a breakout, this pattern could mark a pivotal shift for DOT and spark a strong upside move, potentially starting a new bullish phase. Why The Polkadot Falling Wedge Is Bullish Crypto analyst Jascrypto recently highlighted that Polkadot has completed a breakout from a multi-month falling wedge pattern. Falling wedges are typically viewed as reversal patterns, and DOTs successful breakout suggests that downward pressure may be easing after months of consolidation. This structural shift reflects growing optimism and signals that the asset could be preparing for a larger upward trend. Related Reading: Polkadot Price Caught In A 5-Year Channel Can It Finally Break Free? Jascrypto pointed out that DOT is currently testing the 100-day and 200-day Exponential Moving Averages (EMAs), key technical levels that often act as strong resistance in bearish conditions. He emphasized that a decisive daily close above these EMAs would validate the breakout and signal a shift in market sentiment. According to Jascrypto, if Polkadot maintains momentum and closes above these critical levels, it may pave the way for a rally toward the $5.5 to $6.0 range in the near term. This move would mark a significant recovery phase for DOT, attracting fresh bullish interest from investors. In an alternative scenario, Jascrypto noted that the worst-case outcome might see Polkadot dipping as low as $3.120 on higher timeframes. However, he added that such a move could set the stage for a much stronger rebound, propelling the price above the $7 mark once momentum returns. Momentum Indicators Lean Bullish Is DOT Ready To Run? Momentum indicators are beginning to align in favor of the bulls, offering promising signals that Polkadot may be gearing up for a meaningful move higher. The 4-hour Relative Strength Index (RSI) has rebounded from oversold territory, hovering near the midpoint around 50. This shift indicates that bearish momentum is fading, and buyers may be gradually regaining control. Related Reading: Polkadot (DOT) Nears Critical Zone: A Reversal Could Trigger 180% Surge Adding to the optimistic trend, the 4-hour Moving Average Convergence Divergence (MACD) has shown a bullish crossover, where the MACD line crosses above the signal line. A move that often marks the beginning of a new uptrend or a pause in prior downside pressure. Combined, the RSIs recovery and the MACDs bullish signal suggest that DOTs momentum is shifting favorably, setting the stage for a potential breakout continuation if price action remains strong. Featured image from Medium, chart from Tradingview.com

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Polkadot To Sponsor Messis Inter Miami: DOT To The Moon?

The Polkadot community has approved a proposal to sponsor Inter Miami, the football club co-owned by David Beckham and featuring superstar Lionel Messi. The move could be a strategic decision to propel Polkadot, a smart contracts platform similar to Ethereum, into the global spotlight.  Polkadot To Sponsor Inter Miami The proposal, approved by Polkadot’s Open Gov community, sought 968,000 DOT (roughly $6.5 million) to secure the sponsorship. Under the “sports sponsorship fund,” the goal was to partner with Inter Miami, a team described as one of the “world’s most engaging and followed sports teams.”  Related Reading: Cardano (ADA) Trading Activity Goes Quiet: Will This Drag Down The Price? While the goal is to “elevate” Polkadot’s global brand visibility, the plan is to develop other deeper integration, leveraging Inter Miami’s global fanbase. For instance, the team plans to enhance user experience through engaging non-fungible tokens (NFTs) and other gamified experiences deployed on Polkadot’s parachains. Additionally, the team plans to explore how Polkadot-based solutions can be implemented at Inter Miami, resulting in greater efficiency and improved fan engagement initiatives.  While the potential deal’s specifics are confidential, the proposal emphasizes transparency. Accordingly, funds will be held in a multi-signature wallet, accessible only with community approval. Moreover, ORSEN SA, a Swiss sports marketing agency, will manage the partnership rights. Polkadot’s Plans to Scale As Polkadot enhances its global visibility, developers are also working on activating a key update: “Asynchronous Backing.” Last year, Sophia Gold, the Engineering Lead at Parity Technologies, said the technology would be a game changer.  Asynchronous Backing will allow Polkadot to scale the number of Parachains from 100 to 1,000 by the end of the year. The network will boost its transaction processing capacity, with Polkadot supporting more “independent blockchains” via Parachains.  Related Reading: Heres How This Ethereum Whale Made $16 Million From A Single Trade Furthermore, improvements via techniques like “pipelining” will permit multiple parachains to process data simultaneously, halving transaction confirmation times. Though Polkadot continues to enhance its network and strike more deals, DOT prices remain under pressure. At spot rates, DOT is down 40% from 2024 highs. While CoinMarketCap data shows that the coin has risen 14% in the last week, the failure of bulls to break above $7.5 is a concern. Technically, a high volume lifting the coin above this local liquidation level would pave the road for an expansion toward $9 and March 2024 high in the coming sessions. Feature image from Unsplash, chart from TradingView

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Record-Breaking Q1 For Polkadot: Daily Active Addresses Hit 514,000 As DOT Price Surges 7%

According to a Messari report, the Polkadot (DOT) blockchain protocol made significant progress in the first quarter (Q1) of the year in terms of market capitalization, revenue, and Cross-Consensus Message Format (XCM) activity, as well as a record increase in daily active addresses. DOTs Market Cap Surges 16% QoQ During Q4 2023, Polkadots market capitalization [...]

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Crypto Price Analysis May-03: ETH, XRP, ADA, SHIB, and DOT

This week, we take a closer look at Ethereum, Ripple, Cardano, Shiba Inu, and Polkadot. Ethereum (ETH) Ethereum broke under $3,000 and closes this week with a 5% loss. This latest crash in the price made a lower low which shows bears are still in control of the price action. The current support is at […]

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