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The Polkadot (DOT) price experienced a notable rise over two consecutive days, reaching its highest level since March 2, as overall sentiment in the cryptocurrency market improved. This increase coincided with a significant milestone in the ongoing Polkadot 2.0 upgrade.

Polkadot Price Surges Amid Market Recovery

On Saturday, Polkadot surged to a high of $5.10, marking a 60% increase from its lowest point earlier this year. The rally occurred in a high-volume environment, with intraday trading volume reaching $443 million. This upward movement aligned with broader trends in the crypto market, as major assets like Bitcoin and Ethereum also posted gains. Bitcoin rose to $104,000, while Ethereum moved closer to the key resistance level of $2,500. Additionally, the Crypto Fear and Greed Index climbed to 71, indicating improved investor confidence.

Polkadot 2.0 Milestone: Elastic Scaling on Kusama

The price increase was further fueled by the successful implementation of elastic scaling on Kusama, Polkadot’s canary network. Elastic scaling represents the final stage of the Polkadot 2.0 upgrade, which has been in development since last year. This feature enhances throughput and reduces latency, enabling the blockchain to handle higher demand scenarios without compromising security or decentralization.

“Elastic scaling will make Polkadot one of the fastest blockchains, with block times of less than 2 seconds.”

When fully implemented on Polkadot, this upgrade could significantly improve the network’s scalability, making it a robust option for applications requiring high performance and low latency.

Other Key Polkadot 2.0 Features

Elastic scaling complements earlier upgrades like asynchronous backing and agile coretime:

  • Asynchronous Backing: Introduced parallel transaction validation, boosting transaction throughput by allowing up to four times more data per storage block.
  • Agile Coretime: Replaced the parachain auction model with a flexible, on-demand core allocation system, reducing costs for developers and enhancing accessibility.

These features collectively strengthen Polkadot’s infrastructure, making it more efficient and competitive in the evolving blockchain landscape.

Regulatory Tailwinds for Polkadot

Polkadot’s price is also likely to benefit from regulatory developments. The U.S. Securities and Exchange Commission (SEC), under the leadership of Paul Atkins, is anticipated to adopt a more favorable stance toward spot cryptocurrency ETFs. This shift could pave the way for approval of DOT-focused ETFs, such as those proposed by Grayscale and 21Shares, potentially driving additional institutional interest in the asset.

Polkadot Price Analysis and Outlook

The three-day chart shows that Polkadot’s price has maintained strong support at $3.60, a level it has consistently held since November 2023. The formation of a triple-bottom pattern, a bullish reversal indicator, points to upward momentum. The pattern’s neckline is at $11.56, a critical resistance level.

Additionally, Polkadot has formed a small inverse head-and-shoulders pattern, further signaling bullish potential. Key technical indicators, including the Relative Strength Index (RSI) and MACD, are also trending upward, suggesting growing momentum.

Given these factors, Polkadot’s price could continue rising, with bulls targeting the next resistance level at $11.50, representing a potential 126% increase from current levels. However, a drop below the $3.60 support level would invalidate this bullish outlook.

Stay updated with more cryptocurrency news and insights across the market.

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