- Polkadot 2.0 gives developers more flexibility by enabling two types of sales.
- DOT price action was sluggish, but market indicators were bullish.
Dot [DOT] has always made headlines over the years for its robust development activity. The streak continues with the latest teased upcoming update, which could be a game changer for the blockchain.
Realistic or not, here it is DOT market cap in terms of BTC
In a recent interview, the Polkadot co-founder discussed an upcoming update that reflected the vision of the blockchain. However, as of writing, the news had a minimal impact on the token’s price.
Polkadot 2.0 is coming soon
Gavin Wood announced Polkadot 2.0 during his keynote speech at the Polkadot decoded 2023 event. As he did so, he highlighted a change in vision for the upcoming version.
Wood explained that the current core leasing model would be replaced by a system of selling “core time”.
Polkadot 2.0 will give developers more flexibility by enabling two types of sales: bulk sales and instant sales. Robert Habermeier, a co-founder of Polkadot, stated in the interview that the update will remove the Dot blockchain in a “blockspace”.
For projects to expand and succeed, Habermeier emphasized the importance of optimizing the use of block space, which would facilitate easy initial implementation and ensure scalability without excessive costs.
Polkadot’s price didn’t respond much
Major announcements around a blockchain are often followed by a volatile price movement of its own tokens. However, this is not the case this time as the price of DOT followed a sideways path.
From CoinMarketCap, the price of DOT is only up more than 1% in the last 24 hours. At the time of writing, it was trading at $5.19 with a market cap of over $6.2 billion, making it the 13th largest cryptocurrency.
While the price showed minimal reaction, weighted sentiment around the token improved. POINTThe company’s social volume was also relatively high, reflecting its popularity in the crypto world.
Source: Sentiment
How many Worth 1,10,100 DOTs today?
Good news for investors!
although POINTWith press-time price action dormant, the future could be different as most market indicators were in favor of the bulls. For example, the distance between the 20-day exponential moving average (EMA) and the 55-day EMA decreased, increasing the likelihood of a bullish crossover.
Polkadot’s Relative Strength Index (RSI) gained upward momentum. The same trend was also followed by the Chaikin Money Flow (CMF), suggesting that the price of the token could rise in the coming days.
Source: TradingView
