tl;dr
Polkadot has implemented Asynchronous Backing to speed up block production and enhance support for Web3 applications. The native cryptocurrency, DOT, is expected to potentially rise to the $10-$15 range in the coming months. Analysts anticipate a bull run for DOT due to recent advancements. The pric...
Polkadot Enhances Network with Asynchronous Backing
Polkadot has implemented Asynchronous Backing to speed up block production and enhance support for Web3 applications. The native cryptocurrency, DOT, is expected to potentially rise to the $10-$15 range in the coming months. Analysts anticipate a bull run for DOT due to recent advancements. The price currently hovers around $7, marking a 5% weekly increase. Various analysts foresee a price rally, with some expecting a spike in the $10-$15 range. Michael van de Poppe, in particular, is bullish on DOT's fundamental progress.
Polkadot’s Latest Update
Polkadot announced that Asynchronous Backing has been enabled on the network. Following the latest update, blocks are produced twice as fast, whereas available blockspace was boosted by 6-10 times. "3-5x more extrinsic per block and higher utilization of parachain blocks" are two additional consequences of the advancement.
Dot Price Outlook
The aforementioned advancements (among other factors) may fuel a substantial price rally for Polkadot’s native cryptocurrency – DOT. Its price currently hovers the $7 mark (a 5% increase on a weekly scale), with numerous analysts expecting a bull run in the following months. Some analysts envision a spike in the $10-$15 range. Michael van de Poppe added the asset to his personal portfolio, praising Polkadot’s “fundamental progress” over the years.
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Tags: Polkadot, Polkadot (DOT) Price
About the Author Dimitar Dzhondzhorov
Dimitar got interested in cryptocurrencies back in 2018. His biggest passion in the field is Bitcoin. With a flair for producing high-quality content, he started covering the cryptocurrency space in late 2018. His hobby is football.
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