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Polkadot (DOT) is on a mild bullish rampage today as the broader market is in recovery mode. Polkadot is changing hands at a price of $4.57, up by more than 2.54% in the past 24 hours and by more than 5% in the trailing seven-day period, according to data from CoinMarketCap.
Polkadot ecosystem diversity
Polkadot has been a very ambitious low-ranger among its rival Layer 1 blockchain protocols as it concerns its ecosystem expansion, which is translating to price growth. There is always a lot going on on the Polkadot network at any given time.
According to an update from Bill Laboon, there are a number of upgrade proposals out there for members of the Polkadot ecosystem to decide on the future of the blockchain protocol. One of the most renowned of these updates is the proposal to register DOT as an asset on the Kusama Asset Hub.
Referendum 260, a retry of Referendum 258, proposing to register DOT as an asset on Kusama Asset Hub, is now up for vote. https://t.co/R7sjeXJn6A
— Bill Laboon | Web3 Foundation (@BillLaboon) August 29, 2023
This proposal that is up for voting will be a game-changer that will further bolster the interoperability between Polkadot and Kusama, which has been acting as its canary network from inception. There are other updates surrounding the ongoing parachain lease auction, of which Astar Network is currently in the lead by a wide margin.
Polkadot parachain milestones
Polkadot hosts other, smaller sidechains called parachains, of which the likes of Moonbeam and Astar Network are some of the most prominent. These parachains are the lifeblood of the Polkadot ecosystem because the majority of the innovations that are making their way onto the network are being fueled by these parachains.
Projects like Astar Network have continued to ink a number of strategic partnerships with top noncrypto native firms to help drive the adoption of blockchain across different sectors. As a community-driven project, it will come as no surprise if the top highlighted parachains retain their spot on Polkadot, a trend that is bound to place upward bullish pressure on the DOT price.
Alex Dovbnya
Gamza Khanzadaev
