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Cryptocurrency News Articles
Polkadot (DOT) Price Target is ‘Likely’ $18 Amid Polkadot 2.0 Release and These Catalysts
May 22, 2024 at 12:00 pm
Leading crypto analyst Michaël van de Poppe is painting a bullish outlook for Polkadot (DOT) amid the Polkadot 2.0 upgrade rollout and the release of the
Top crypto analyst Michaël van de Poppe is unveiling his price target for Polkadot (DOT) as the much-anticipated Polkadot 2.0 upgrade and other catalysts converge.
In a tweet, Van de Poppe highlights the major catalysts surrounding the Polkadot ecosystem, which he believes could drive DOT’s price to around $18, based on his technical analysis.
The Polkadot 2.0 upgrade introduces the Agile Coretime system, replacing the previous parachain slot auction model. This new mechanism allows developers to purchase blockspace based on their needs, enabling more efficient resource management.
Moreover, Polkadot 2.0 enhances scalability through its Elastic Scaling sharding, which can validate up to 100 shards per block. This translates to a transaction throughput of approximately 1 million transactions per second (TPS) with asynchronous backing.
The inclusion of Async Backing allows validators to back parachain blocks asynchronously, further boosting scalability. Additionally, the Coretime Marketplace enables applications to reserve and purchase blockspace based on their requirements.
These upgrades collectively mark a shift towards an application-centric base layer with shared security, high chain customization, streamlined app-chain onboarding, and the ability to harness collaborative potential across parachains. By making it easier for developers to build and offering more value to DOT holders, Polkadot 2.0 is set to drive significant adoption and growth within the ecosystem.
Adding to the bullish outlook is the highly-anticipated release of the JAM whitepaper, which details the project’s plans to bridge traditional finance and decentralized finance (DeFi). As Polkadot continues to solidify its position as a leading blockchain platform, the confluence of these catalysts could potentially propel DOT’s price towards the $18 target predicted by analyst Michaël van de Poppe.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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