Is Polkadot Preparing For A 100% Surge And Spike Above $20?
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Polkadot, the interoperable blockchain, remains one of the largest and most popular networks in the top 20. At press time, DOT, the platform’s native currency, is 14th, ahead of Tron and the NEAR Protocol.
However, despite recent gains, it is still down 87% from all-time highs, undeniably facing a brutal market correction.
Even with this bearish sentiment, a wave of optimism is building around DOT’s future. Taking to X, one analyst thinks not only will the coin shake off weakness but will surge, rallying to over $20 in the coming months.
This confidence, the analyst said, will be primarily because of crucial developments in the broader Polkadot ecosystem.
Eyes On Polkadot 2.0, Better On-Chain Governance
Of the many, the analyst thinks the upcoming Polkadot 2.0 upgrade will be a game-changer.
Already, Polkadot is interoperable and scalable. However, once the new upgrade comes into play, the platform’s developers expect the network to be more interoperable, scalable, and with better governance.
Specifically, to address scalability, they will eliminate the Parachain slot auction and introduce the concept of coretime. This feature will give developers more flexibility.
Instead of bidding and locking resources in the auction, they must purchase block space dynamically as needed. This will improve resource allocation, leading to more accessibility and efficiency.
Additionally, Polkadot developers are introducing the OpenGov system for more decentralized governance. The objective here will be to give all DOT holders a voice in decision-making, which is crucial in decentralized networks.
