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.

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Reading


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.

JAM
ratification
vote
passed
|
Source:
Polkadot


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.

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Reading


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.

Polkadot
price
trending
sideways
on
the
daily
chart
|
Source:

DOTUSDT
on
Binance,
TradingView


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

Go to Source
Author: Dalmas Ngetich


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