Cryptocurrency Custodian Zodia Plans To Provide Custody Services for the Polkadot Ecosystem
Zodia Custody, a subsidiary of Standard Chartered Bank and a cryptocurrency custody institution, will provide custody services for the Polkadot ecosystem through a new partnership with Parity Technologies, providing digital asset storage services for financial institutions. The two companies plan to offer staking for Polkadot's native token DOT to further expand the network's coverage among institutions.
Enjin NFT platform announces the addition of Polkadot to its new mainnet
Enjin NFT platform announced that it will integrate Polkadot into its new mainnet, enabling greater interoperability between different blockchains. Enjin also plans to leverage Polkadot's parachain technology to provide enhanced scalability and faster transaction confirmations.
Polkadot's Bullish Momentum Faces Resistance at Bearish Order Block, Open Interest Indicates Growing Confidence
The writer's opinion is presented and it is not financial, investment, trading, or other types of advice. Despite a bearish order block limiting DOT's bullish advance, open interest has maintained an upward movement. Polkadot's buyers have been persistent in July, resulting in favorable price gains and keeping the altcoin's upward trajectory despite the general market correction led by Bitcoin's decline below $30k. On-chart indicators show bullish intent, but a drop below the $5.23 level would be a sign of a bearish takeover in the short term. Rising open interest highlights growing bullish confidence.
Ethereum Layer-2 Solutions Flourish While Competing Chains Plateau, Says Cumberland's Global Head of Trading
According to Jonah Van Bourg, user counts and wallet addresses have plateaued on alternative layer-1 blockchains such as Solana, NEAR, and Polkadot, making their ecosystems "dead on arrival." Meanwhile, Ethereum layer-2 solutions like Arbitrum and Optimism are flourishing.
Polkadot's DOT Token Sees Uncertain Future Despite Development Activity and Bullish Market Sentiment
Despite an increase in development activity and unique addresses in Q2, the price of Polkadot's native token, DOT, has remained stagnant. However, the blockchain's advancement in interoperability could lead to rapid gains for DOT in Q3. Polkadot offers an ecosystem of custom blockchains called "parachains" that can host decentralized applications and be deployed on Polkadot's central hub, the Relay Chain.
Polkadot Bulls Look to Overcome Potential Market Correction Amidst Bitcoin's Resilience
Polkadot (DOT) has remained strong in the market despite fluctuations, with investors maintaining their bullish position. Ripple's legal victory against the SEC has positively impacted the entire market, including altcoins like DOT.
Crypto Analyst Predicts Short-Lived Rallies for Ethereum Competitors Polkadot, Cardano and Avalanche
Crypto analyst Benjamin Cowen predicts that altcoins such as Polkadot, Cardano, and Avalanche will experience short-lived rallies before crashing back down to fresh lows, following a similar pattern to that of 2018. Cowen believes that the current altcoin rally will stall once Bitcoin's dominance level reestablishes itself.
Polkadot founder proposes Polkadot 2.0 plan to overhaul network's resource allocation
Polkadot founder Gavin Wood has proposed a revamp of the network's resource allocation system, called Polkadot 2.0, which would create a network of sovereign chains connected by "accords." The current system of auctioning off parachain slots has been problematic, but Wood's proposed framework would allocate "core time" via a marketplace, represented by NFTs. Wood's new vision for Polkadot is "application centric, not chain centric," and would address the biggest drawbacks of Polkadot 1.0, allowing for more seamless integration of apps across chains. However, deploying on Polkadot is more challenging than deploying on Ethereum or an L-2 due to its heavy-duty nature.
Polkadot's DOT Price Gains Momentum, Aims Higher Against US Dollar Resistance Levels
Polkadot's DOT has found support at $5.0 against the US Dollar and is slowly increasing in value. The price may experience a surge if it surpasses the resistance levels of $5.30 and $5.40. The DOT/USD pair is trading above the $5.20 zone and the 100 simple moving average (4 hours), with a bullish trend line forming at $5.10.
Polkadot's Ecosystem Sees New Developments, But Market Indicators Remain Bearish on DOT
Polkadot's revenue and active addresses have decreased in the past week, but the blockchain's value has continued to increase. Market indicators suggest that DOT's price may drop further, as it has already declined by over 7% in the last week.
