Polkadot to breakout with bullish updates in the DOT ecosystem
- The eleventh Parachain auction on Kusama starts today.
- eToro, the social trading platform, listed DOT on October 4.
- A key project in the DOT ecosystem, Polkabridge has announced a partnership with Harmony Blockchain.
Enabling cross-blockchain transfers, the Polkadot ecosystem has updates lined up. The tenth Parachain auction is now complete, and Kusama is ready to start the eleventh.
Kusama gears up for eleventh parachain auction
The social trading platform eToro has listed Polkadot. eToro's announcement states,
DOT is a crypto that is helping unify multiple blockchains into a more streamlined experience for investors. DOT holders gain access to simplifying the protocols of different blockchains into a decentralized custom blockchain tailored to the investor's preferences.
The social trading platform is making strides in the crypto and DeFi ecosystem. Two weeks ago, the platform rolled out a new DeFi portfolio, offering traders the chance to invest in decentralized finance tokens.
We've added $DOT & $FIL to eToro!
— eToro (@eToro) October 5, 2021
(Not currently available in the USA)
Kusama, Polkadot's relay chain, has launched the 11th batch of auctions ending on October 13.
And just like that my 11th parachain slot auction has taken flight!
— kusama (@kusamanetwork) October 6, 2021
This auction will run until Oct. 13 at approximately 9am CEST. So far 11 teams are participating, who will join the soɐɥɔ next?
To follow along, or take part, check out @PolkadotJs: https://t.co/KQow7VYqbs
Polkadot ecosystem's key project Polkabridge recently announced a partnership with Harmony Blockchain. The network that claims to process transactions within 2 seconds with finality is now integrated into Polkabridge's multichain application platform.
We announce our partnership with Harmony
— PolkaBridge (@realpolkabridge) October 4, 2021
We received grant from Harmony Foundation and will proceed to integrate Harmony blockchain into PolkaBridge's Multichain application platform (Launchpad, Staking, AMM...)https://t.co/rG04u48PFe
With upgrades in the Polkadot ecosystem, cryptocurrency analyst @AltcoinSherpa has predicted capital rotation from Bitcoin and Ethereum to altcoins like DOT in Q4 2021.
I believe this is what's going to happen for many #Altcoins over the coming weeks when $BTC runs. Your alt/usd pairs consolidate/maybe go up a little bit while alt/btc pairs bleed into oblivion. Rotate to btc-->back to alts later on in late Q4. It's already begun for $DOT. $SNX pic.twitter.com/OzZQjovvR7
— Altcoin Sherpa (@AltcoinSherpa) October 6, 2021
It's interesting to note that Kusama and Polkadot lead the crypto ecosystem in Github development activity. There are 465 new commits on Kusama and Polkadot.
The development team is working on building bridges with blockchains like EOS, Cosmos, Bitcoin and Ethereum to support token swap without the involvement of a centralized exchange.
Traders are awaiting the completion of Polkadot's launch. When the project takes parachains live, the connection of connected and secure layer-1 applications will be complete.
Proponents expect parachain launch to trigger a rally in DOT price.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
