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Polkadot Solidifies its Position in the Blockchain Industry with a Game-Changing Partnership, Gaining Access to a Multi-Billion Dollar Ecosystem
• A new bridge is now facilitating the connection between Polkadot (DOT) and its sister chain or “canary network” Kusama (KSM).
• Centauri is the first implementation of the Inter-Blockchain Communication (IBC) standard employed in the Cosmos (ATOM) ecosystem.
Polkadot has taken a crucial step in its development after the launch of its bridge with sister chain Kusama. Polkadot has reaped massive benefits since the launch of Kusama which is a scalable multi-chain network for developers and projects to launch and test out early-stage development using the same codebase as Polkadot. Following the relation, Polkadot (DOT) and Kusama (KSM) are generally referred to as the DotSama ecosystem.
According to a post earlier this year, 37 parachains have joined Polkadot, with an additional 42 parachains on Polkadot’s canary network, Kusama, providing a clear illustration of their dominance. These parachains are able to fully customize their own layer-1 blockchain in an optimal way for their use cases such as DeFi, smart contracts, social media, decentralized identity, IoT, gaming, the metaverse, and sustainability.
Per the announcement, Polkadot and Kusama will be connected by a seamless bridge dubbed Centauri, through the Inter-Blockchain Communication (IBC) standard of the Cosmos (ATOM) ecosystem.
Polkadot Solidifies its Position in the Blockchain Industry with a Game-Changing Partnership, Gaining Access to a Multi-Billion Dollar Ecosystem
• A new bridge is now facilitating the connection between Polkadot (DOT) and its sister chain or “canary network” Kusama (KSM).
• Centauri is the first implementation of the Inter-Blockchain Communication (IBC) standard employed in the Cosmos (ATOM) ecosystem.
Polkadot [DOT] remains bearish – can bulls force a pullback
DOT has been on a downward spiral recently. However, a price reversal looks likely with bulls attempting a recovery of its YTD high.
Polkadot [DOT] began the year on a bullish note, posting gains of 84.7% to reach a YTD high of $7.9, as of 19 February. Since then, the price has almost wiped off those gains, with sellers dominating the market.
Selling pressure has been relentless with no pushback from bulls
DOT has been on a steep downward trend since 18 April. Price smashed through the $6.4 support level before bulls found some respite at the $5.7 support level.
However, this didn’t last long as sellers broke past the $5.7 support on 1 May. On the daily timeframe, sellers have maintained the pressure with price trading under the $5.7 area for three days.
While the overall structure for DOT remained bearish, a few signals point to a bullish pullback on the horizon.
On the four-hour chart, DOT posted three bullish candles in a row, causing the RSI to climb above the neutral 50 mark. The OBV also rose by 1.73 million.
A near-term recovery plan for bulls will involve a daily candle close above the $5.7 resistance level. This could spur a push to reclaim the $6.4 level. On the flip side, bears could continue the downward push with the $5 psychological support level as the next target.
Read More: https://ambcrypto.com/polkadot-dot-remains-bearish-can-bulls-force-a-pullback/
Polkadot [DOT] remains bearish – can bulls force a pullback
DOT has been on a downward spiral recently. However, a price reversal looks likely with bulls attempting a recovery of its YTD high.
Polkadot [DOT] began the year on a bullish note, posting gains of 84.7% to reach a YTD high of $7.9, as of 19 February. Since then, the price has almost wiped off those gains, with sellers dominating the market. ...
Polkadot, Kusama and Cardano Massively Dominating Crypto Assets in One Critical Metric: Santiment
A blockchain analytics platform is revealing that over the past 30 days, Polkadot (DOT), Kusama (KSM) and Cardano (ADA) have emerged as the top-three crypto assets in development activity.
According to Santiment, the three smart contract-enabled blockchains all recorded over 400 GitHub commits over the last 30 days.
Commits are cryptographic algorithms that maintain the confidentiality of a value while permitting later disclosure.
Both Polkadot and Kusama saw 606.5 GitHub commits each, while Cardano’s figure was 461.47 commits.
Santiment says that the level of development activity of a crypto asset indicates that developers have faith it will be successful. A high development activity level also indicates that a crypto project is shipping new features while also increasing the possibility that it is not an “exit scam”, according to the blockchain analytics platform.
Other crypto assets featuring among the top twenty by development activity are the fourth-placed interoperable blockchain ecosystem Cosmos (ATOM) and the fifth-placed enterprise blockchain Hedera (HBAR). Ethereum (ETH) ranked eighth by development activity.
Others in the top 20 by development activity over the past 30 days include decentralized applications (DApps) blockchains Aptos (APT) and Avalanche (AVAX), blockchain oracle Chainlink (LINK) as well as decentralized exchange Uniswap (UNI).
Polkadot, Kusama and Cardano Massively Dominating Crypto Assets in One Critical Metric: Santiment
A blockchain analytics platform is revealing that over the past 30 days, Polkadot (DOT), Kusama (KSM) and Cardano (ADA) have emerged as the top-three crypto assets in development activity.
According to Santiment, the three smart contract-enabled blockchains all recorded over 400 GitHub commits over the last 30 days....
Spacewalk Could Lead to Price Rise for Polkadot (DOT), Collateral Network (COLT) Could Offer 35X Gains
In this article, we’ll explore the potential impact of Spacewalk — an innovative fiat bridge — on the future price of Polkadot (DOT). Alongside this, we’ll discuss how Collateral Network (COLT) — a Web3 lending platform in the presale phase — could offer investors 35x gains before 2024.
Spacewalk: A Fiat Bridge Revolutionizing the Polkadot (DOT) Ecosystem
Spacewalk is a bridge that connects Stellar Lumens (XLM) with the Polkadot (DOT) ecosystem. It connects to Pendulum — a Polkadot (DOT) substrate-based blockchain — to allow stable coins to flow between the two networks, allowing users to transfer funds easily and securely.
The Spacewalk bridge could provide a robust solution that connects traditional fintech fiat services with the growing world of decentralized finance (DeFi). As a result, Pendulum could become the “missing link” that enables seamless interactions between the two worlds.
The benefits of Spacewalk could be immense for the Polkadot (DOT) ecosystem and could potentially lead to an increase in its value. Polkadot (DOT), at the time of writing, is priced at $6.38, which translates to a 50% gain for Polkadot (DOT) holders since the start of 2023.
Analysts note that the bullish price movement could be compounded by increased liquidity from Spacewalk. Polkadot (DOT) has been ranging between $4.30 and $8.00 since August 2022. However, with the addition of Spacewalk and its associated fiat services, Polkadot (DOT) could break through these range boundaries and hit $16.00 or even higher.
Spacewalk Could Lead to Price Rise for Polkadot (DOT), Collateral Network (COLT) Could Offer 35X Gains
In this article, we’ll explore the potential impact of Spacewalk — an innovative fiat bridge — on the future price of Polkadot (DOT). Alongside this, we’ll discuss how Collateral Network (COLT) — a Web3 lending platform in the presale phase — could offer investors 35x gains before 2024.
Spacewalk: A Fiat Bridge Revolutionizing the Polkadot (DOT) EcosystemSpacewalk is a bridge that connects Stellar Lumens (XLM) with the Polkadot (DOT) ecosystem. It connects to Pendulum — a Polkadot (DOT) sht...
Polkadot (DOT) Rises 0.67%, Underperforms the Crypto Market Monday
Polkadot (DOT) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Monday, the Distributed Software Platform has gained 0.67% to $6.16.
Moderately Volatile
InvestorsObserver gives Polkadot a moderate volatility rank of 28, placing it in the bottom 28% of cryptos on the market.
The Volatility Gauge analyzes meaning that one day won't make or break its rank. DOT's moderate volatility reading is paired with a low reading on the Risk/Reward Gauge, meaning that the coin has moderate price swings and is well protected from price manipulation.
Polkadot price is favorably positioned going forward. With support at $6.07 and resistance near $6.21. This positions Polkadot with room to run before facing selling pressures.
Read Full Analysis: https://www.investorsobserver.com/news/crypto-update/polkadot-dot-rises-0-67-underperforms-the-crypto-market-monday
Polkadot (DOT) Rises 0.67%, Underperforms the Crypto Market Monday
Polkadot (DOT) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Monday, the Distributed Software Platform has gained 0.67% to $6.16.
How DOT can revive its declining fortunes, with the help of….
Polkadot [DOT] maintained its number one spot on the list of blockchains in terms of monthly development activity. This was a commendable feat, as the blockchain remained consistent with its updates.
It was interesting to note that while Polkadot’s developers continued to improve the blockchain, the network’s revenue declined over the last 30 days. A similar trend was prevalent with the blockchain’s fees. Therefore, the overall data suggested less usage of the Polkadot network.
read more: https://ambcrypto.com/how-dot-can-revive-its-declining-fortunes-with-the-help-of/
How DOT can revive its declining fortunes, with the help of….
Polkadot [DOT] maintained its number one spot on the list of blockchains in terms of monthly development activity. This was a commendable feat, as the blockchain remained consistent with its updates.
It was interesting to note that while Polkadot’s developers continued to improve the blockchain, the network’s revenue declined over the last 30 days. A similar trend was prevalent with the blockchain’s fees. Therefore, the overall data suggested less usage of the Polkadot network....
What DOT holders should know about Polkadot’s latest ‘statement’ partnership
Polkadot has announced the launch of an NFT marketplace by Beatport on Aventus
Polkadot NFT volume fairly normal as DOT commenced recovery on price charts
Polkadot is making a significant play in the Non-Fungible Token (NFT), and Web 3 arena as the space grows and the link gets deeper. The development of the Internet and how we interact with digital assets are tied to Web3 and NFTs. Polkadot is putting its foot down early with a recent collaboration announcement with Beatport. Needless to say, a favorable effect on DOT may be on the cards too.
The Polkadot partnership with Beatport
NFTs are a crucial application of Web3 technology, enabling the creation and ownership of unique digital assets that can be verified on a blockchain. As the Web 3 ecosystem grows, we expect to see more innovative uses of NFTs and other blockchain-based assets.
Polkadot is taking action in this direction by launching an NFT marketplace. The move is part of an initiative to promote electronic music culture to Web3 and is being carried out in conjunction with global music powerhouse Beatport. With the debut of the Beatport marketplace on Polkadot’s sidechain Aventus, record labels and musicians will have a new channel to promote their work and monetize their fan bases.
What DOT holders should know about Polkadot’s latest ‘statement’ partnership
Polkadot has announced the launch of an NFT marketplace by Beatport on Aventus
Polkadot NFT volume fairly normal as DOT commenced recovery on price charts
