According to CryptoPotato, the Polkadot ecosystem has witnessed many advances in the past week, such as the Sinai upgrade on the Acala Network's parachain. Despite the recent market decline, the protocol's native cryptocurrency DOT has performed robustly, up 3% in 7 days.
Acala is one of the most popular parachains built on Polkadot and has had some big news in recent days. It recently completed the Sinai upgrade, which is designed to improve the functionality and security of the network. This development sets a new standard for decentralized finance (DeFi), not only on Polkadot, but in any 1, 2, or 3 layer blockchain solution.
Another huge development that has yet to happen is Polkadot’s possible partnership with American soccer club Inter Miami. In April, Nico Zini, co-marketing and media rights at Inter Miami CF, revealed that the team may join forces with Polkadot for an $8.8 million sponsorship deal. Regarding Polkadot, its native currency DOT has resisted somewhat amid the major bearish sentiment, gaining 5% in two weeks. Currently, the asset is priced around $7.
One of the analysts who is very bullish on DOT is Michael van de Poppe. The X user with over 700,000 followers recently praised Polkadot’s multi-chain setup, which “eliminates transaction bottlenecks and adds more efficient AI computing.”