According to CryptoPotato, Polkadot's ecosystem has seen numerous advancements in the past week, including the Sinai Upgrade on the Acala Network parachain. Despite the recent market decline, the protocol's native cryptocurrency, DOT, has shown a solid performance, rising by 3% on a 7-day scale.
Acala, one of the most popular parachains built on Polkadot, recently completed the Sinai Upgrade. This upgrade aims to enhance the network's functionality and security, setting a new standard for decentralized finance (DeFi) across all blockchain solutions. The upgrade consists of three routes: liquidity track, infrastructure track, and aSEED track.
Another significant development for Polkadot is the release of the Join-Accumulate Machine (JAM) Gray Paper. Released in late April, it combines elements of Polkadot and Ethereum. The team explained that JAM provides a global singleton permissionless object environment, similar to the smart-contract environment pioneered by Ethereum, paired with secure sideband computation parallelized over a scalable node network, a proposition pioneered by Polkadot.
In addition to these advancements, there is potential for a collaboration between Polkadot and American soccer club Inter Miami. Nico Zini, Partnership Marketing and Media Rights for Inter Miami CF, revealed in April that the team might join forces with Polkadot on an $8.8 million sponsorship deal. Inter Miami has gained significant popularity in recent years by signing renowned names in the soccer world, such as Lionel Messi and Luis Suarez, and is co-owned by David Beckham.
As for the price outlook of Polkadot's native coin, DOT, it has somewhat defied the predominantly bearish market sentiment, rising by 5% on a two-week scale. The asset's price is currently around the $7 mark. Analyst Michael van de Poppe, who is bullish on DOT, recently praised Polkadot for its multichain setup that 'eliminates transaction bottlenecks and increases more efficient AI computations.' He described the protocol as a 'promising blockchain' outside Ethereum and has added the token to his personal portfolio.
