Polkadot (DOT) and its recent performance.

Polkadot is a Layer-0 open-source crypto platform that enables multiple blockchains to communicate and operate together. It enables protocols and blockchains to share their distinct features while combining their security. In short, Polkadot is connecting different blockchains for seamless interactions by helping them understand their way of storing data in the ledger which is different in each chain.

Price Trends Indications:?

Currently DOT is trending at a price point of $6.27 at the time of the writing. The latest Polkadot price forecast predicts a 12.27% increase, reaching $6.86 by July 2, 2024.

From the technical point of view, Dot has broken through its falling trend, suggesting a potential slowdown in its previous downtrend. A bullish signal is the formation of a double bottom pattern, indicating a possible rise to $8.36, though further confirmation is advisable.

Future Holding:?

Due to its usability and scalability, experts project that Polkadot’s price could potentially reach a maximum value of approximately $60.00. Considering market dynamics, the average expected trading price for DOT might hover around $58.50.

Polkadot Performance Analysis:

• 1 month: 12.58% fall in value against famous stablecoin Tether (USDT) over the past month.
• 6 months: DOT fell 28.94% in value against Tether (USDT). Another source indicates a 25.10% decrease in the same period.
• 1 year: However when looking at the yearly chart, DOT has increased by 18.89% against Tether (USDT)1.
• All time: Since its inception, DOT has grown by 204.40%.

Note: Used USDT as a parameter of comparison

Polkadot 2.0 and Future Prospects:

Polkadot 2.0 is an exciting development for the network, aiming to enhance its utility and resource allocation. Here are some key take aways:

1. Flexible Blockspace Allocation:

• Flexible system to efficiently allocate backspace. Developers can now buy blockspace as needed. This change makes it easier for new projects to enter the Polkadot ecosystem.
• It also attracts Web2 businesses adopting Web3 frameworks, making Polkadot more versatile.

1. Elastic Cores:

• Polkadot 2.0 introduces elastic cores, which adapt to real-time computational needs. Unlike fixed CPU cores in the current parachains model, this innovation enhances efficiency throughout the ecosystem.

1. Coretime Allocation:

• Coretime represents the time needed for validation and consensus on the Polkadot Relay Chain.
• Polkadot 2.0 allows for the pay-as-you-go model and auctions to be used to purchase coretime as block time. The goal of this change is to make development more affordable and accessible.

1. Impact on DOT Tokens:

• If Polkadot 2.0 gains traction, it could boost the value of DOT tokens. Projects will require DOT tokens to acquire coretime1.

Conclusion

Polkadot seems to have a good future with its new blockspace allocating system. However recent reports also show that they might have a confusing treasury which can indicate a tight budget and issues coming from it.

Future topics:

Polkadot 2.0: How it will help Dot save from its budget problem

Blockchain for voting(a college is already doing it in india)

Updates on Governments worldwide exploring CBDCs

IoT, blockchain and A.I combining updates that are sure to come

Bitcoin’s recent price surge due to Donald Trump’s promises?

Sony Group’s Crypto Exchange Platform