Polkadot Publied a tweet They posted several proposals on Twitter, focusing on major network enhancements to be implemented within the next few months.
Their official Statement, they provided details about additional features that members of network might expect to see in the coming days.
Some upcoming upgrades
Asynchronous backing is being implemented by the network to reduce block duration (from 12 to 6 seconds) and increase finality.
Parathreads is a parachain that works on a pay as you go basis. It makes it easy to create a blockchain or deploy smart contracts.
The group also proposed replacing council members and technical committees by the Polkadot Fellowship. All community decisions would be subject to referendums.
This metric seems agreeable
An examination of Santiment’s development metric revealed a very busy period of development (with a score of 86.14). Developers are clearly making an effort and will likely release more features soon.
The line showed an upward trend in addition to the metric being very high. This indicated that there was increasing development activity and will likely continue to rise.
DOT has not been impressed
A chart analysis revealed that DOT’s share price did not respond favorably to the news of the new features. At 6 October’s close, the token was worth $6.34 compared to its $6.44 opening value.
It traded at a loss of 1.55%, trading as low as $6.25 during the same period. The token traded at a loss in the last hour of trading, of 1% at the time of writing.
According to trend lines, altcoin failed to break through $6.85 resistance. The $6.10 support level seemed solid at first glance.
According to the graph, there hasn’t been any significant upward or down movement in recent years. Movement has largely been sideways.
The DOT market has a bearish momentum, as shown by the Relative Strength Index RSI and Directional Movement Index DMI.
The RSI was found below the neutral, while the signal and plus DI lines were all found below the DMI’s 20 level. The signs indicated that the bear trend was not robust despite this.
Polkadot will experience an increase in users as soon as these updates are available. Inevitably, this will have a favorable effect on the DOT’s price movement, allowing long-term DOT holders to cash in.
But, any additional rally will only be possible in the medium term if the resistance is broken.