Polkadot has launched the Join-Accumulate Machine (JAM) upgrade, replacing the Relay Chain to improve block validation efficiency and enhance network stability and scalability. The upgrade combines elements of Polkadot and Ethereum and supports existing parachains. To encourage development, a 10 million DOT prize was announced.

Additionally, Polkadot has partnered with the Founder Institute to launch its first Web3 cohort, marking a significant step in the development of the Polkadot ecosystem. The initiative is set to begin on May 28, guided by leading experts from the Polkadot community.

Despite a recent drop in DOT's price, analysts remain optimistic about its future performance. The asset's latest pullback is seen as a result of following BTC's footsteps, but it is believed to remain bullish as long as it trades above the critical resistance level of $6.90.