Polkadot (DOT) has been experiencing a price surge recently, and here’s a quick breakdown of why it's on the rise:

1️⃣ Agile Coretime Update: Polkadot recently launched a major update called Agile Coretime, which is part of the broader Polkadot 2.0 upgrade. This upgrade introduces on-demand blockspace allocation, making the network more flexible and cost-efficient for developers. This change has been a key driver in boosting DOT’s price by 8% as it lowers the barriers for new projects to build on the platform and allows for better scalability​.

2️⃣ Bullish Market Sentiment: The DOT price recently increased by 14% after recovering from a crucial support level of $6.6. With strong buying pressure indicated by the Relative Strength Index (RSI) and Chaikin Money Flow (CMF), DOT's market sentiment remains bullish, signaling a potential breakout above its resistance level of $7.7​.

3️⃣ On-Chain Activity Boost: Polkadot has been actively recording high transaction volumes, with over 100 million fee-paying transactions in 2023 alone. This high on-chain activity suggests growing usage and interest in the Polkadot ecosystem, which positively impacts its native token DOT​.

Polkadot’s new upgrades are making it a more attractive platform for developers, which could mean even more growth ahead!

🔮 What Do You Think?
Do you believe DOT’s price can break past its resistance and hit new highs soon, or do you think the bears will come back strong? Drop your thoughts in the comments! 👇

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