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The Polkadot network reached a landmark in terms of active accounts, while the Relay Chain gets an important technical update.

The Week in Polkadot: Monthly Active Accounts Hit All-Time High

Large players in the cryptocurrency market have been quietly gathering select cryptocurrencies, showing increased interest

Crypto Whales Are Secretly Accumulating Polkadot, Avalanche, BlastUP and Solana

The post Get Ready for Altcoin Explosion After the Market Downturn – Don’t Miss Out on These 5 Top Altcoins appeared first on Coinpedia Fintech News With the temporary crypto market dip, many traders expect a burst of altcoins. Often underdogs, altcoins historically skyrocket in value after market corrections. This article explores five top altcoins that might surge during this market dip: KangaMoon (KANG), Polkadot (DOT), Hedera (HBAR), Aptos (APT) and Cardano (ADA). KangaMoon (KANG) At the top of our list …

Get Ready for Altcoin Explosion After the Market Downturn – Don’t Miss Out on These 5 Top Altcoins

Polkadot shows fluctuation between key support and resistance levels. Consolidation may continue until a clear breakout occurs. Continue Reading: Recent Trends and Analysis in Polkadot’s Market Behavior

Recent Trends and Analysis in Polkadot’s Market Behavior

Check out what is the latest update introduced by Polkadot.

Polkadot Completes a Major Upgrade: Asynchronous Backing Now Live

Polkadot prepares to overhaul its Relay Chain protocol soon. The recent Asynchronous Backing update aims to double block production speed. Continue Reading: Polkadot Implements Key Network Update

Polkadot Implements Key Network Update

Polkadot (DOT) recently tested the $7.5 resistance level. It corrected gains but may rise again if it stays above $6.75 support. Continue Reading: Polkadot Faces Key Resistance Levels in the Crypto Market

Polkadot Faces Key Resistance Levels in the Crypto Market

Polkadot (DOT) is correcting gains from the $7.5 resistance against the US Dollar. The price could start another increase if it stays above the $6.75 support. DOT gained pace and tested the $7.5 resistance level against the US Dollar. The price is trading above the $7.00 zone and the 100 simple moving average (4 hours). There is a short-term expanding triangle forming with resistance at $7.50 on the 4-hour chart of the DOT/USD pair (data source from Kraken). The pair could continue to decline if it fails to stay above the $6.75 support. Polkadot Price Holds Support After forming a base above the $6.00 level, DOT price started a decent increase. It broke many hurdles near $6.75 and even spiked above $7.25. A high was formed at $7.46 and the price is now correcting gains, like Ethereum and Bitcoin. There was a move below the $7.25 support zone. The price declined below the 23.6% Fib retracement level of the upward move from the $6.03 swing low to the $7.46 high. DOT is now trading above the $7.00 zone and the 100 simple moving average (4 hours). Immediate resistance is near the $7.25 level. The next major resistance is near $7.50. There is also a short-term expanding triangle forming with resistance at $7.50 on the 4-hour chart of the DOT/USD pair. Source: DOTUSD on TradingView.com A successful break above $7.50 could start another strong rally. In the stated case, the price could easily rally toward $8.00 in the near term. The next major resistance is seen near the $8.80 zone. More Downsides in DOT? If DOT price fails to start a fresh increase above $7.25, it could continue to move down. The first key support is near the $7.00 level and the 100 simple moving average (4 hours). The next major support is near the $6.75 level or the 50% Fib retracement level of the upward move from the $6.03 swing low to the $7.46 high, below which the price might decline to $6.50. Any more losses may perhaps open the doors for a move toward the $6.10 support zone or $6.00. Technical Indicators 4-Hours MACD – The MACD for DOT/USD is now losing momentum in the bearish zone. 4-Hours RSI (Relative Strength Index) – The RSI for DOT/USD is now below the 50 level. Major Support Levels – $7.00, $6.75 and $6.50. Major Resistance Levels – $7.25, $7.50, and $8.00.

DOT Price (Polkadot) Reaches Key Juncture, Is This Bulls Trap or Correction?

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: Here’s 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

Polkadot To Sponsor Messi’s Inter Miami: DOT To The Moon?

Polkadot's native cryptocurrency, DOT, has emerged as a standout performer in the digital asset market, with analysts predicting a significant price surge.

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