Polkadot Logistics set for Breakout Amid Upcoming Upgrades and token Changes
The Polkadot crypto price has been confined within a tight range throughout the year. However, its technical indicators and robust fundamentals signal potential for significant growth.
while the token trades around $4.40 within the $3.95 to $5.30 zone since early 2024, there’s optimism for a bullish turn. Key developments include completing the Polkadot 2.0 update and the JAM upgrade.
Parity Technologies announced that the elastic scaling feature is live on the Polkadot Relay Chain. The final step requires updating the Polkadot SDK 2509 in early october. This feature allows dynamic resource allocation for decentralized apps on the network.
- Elastic scaling enhances decentralized app functionality.
- The JAM upgrade will transform the Relay Chain for wider submission.
- Hard-pressure tokenomics will reduce supply over time.
The Join-Accumulate Machine (JAM) upgrade, a precursor to polkadot 3.0, aims to expand the Relay Chain’s capabilities. Additionally, the hard-pressure tokenomics mechanism, set for march, limits DOT’s supply to 2.1 billion tokens, reducing it biennially.
Analysts draw parallels between Polkadot’s current state and OKB’s past performance. The parallels suggest a potential price surge similar to OKB’s when OKX altered its tokenomics.
Increases in supply pressure and the possible approval of multiple DOT ETFs by the Securities and Exchange Commission indicate rising investor interest.
Technically, the weekly Polkadot chart illustrates a long-term consolidation phase between $3.39 and $11.20. This phase may mirror OKB’s pre-squeeze behavior, suggesting a price spike toward $11.
