Polkadot’s price has increased by 8% due to the introduction of the Staking Dashboard 1.1, which allows users to view the 14-day activity of validators on the Polkadot network.
Polkadot (DOT) has garnered attention in the cryptocurrency market with its significant price movement. As of now, each DOT is priced at $4.34, reflecting a 3.23% increase within the past 24 hours.
The surge in DOT’s price can be attributed to the recent deployment of the Staking Dashboard 1.1 by Polkadot. This upgrade was designed to enhance the user experience within the Polkadot ecosystem.
Over the past week, Polkadot has emerged as one of the best-performing cryptocurrencies in the top 20 rankings by market capitalization, experiencing an 8% price gain. This positive momentum supports the idea that Polkadot is ready to retest the resistance point at $5 in the near term.
The surge in Polkadot’s price is not a coincidence; it is directly linked to the introduction of the Polkadot Staking Dashboard 1.1. This critical upgrade provides users with improved insights into the network’s validator activities and performance.
The Polkadot Staking Dashboard 1.1
The Staking Dashboard 1.1, developed by Parity Technologies engineer Ross Bulat, offers Polkadot stakers a more intuitive reporting system. It enables users to better understand ongoing activities within the ecosystem.
1/ Polkadot Staking Dashboard 1.1 Is Now Live 🎉 This is a BIG release.
MetaMask support, new power-user features for managing nominations, configurable RPC endpoints, and a lot more, all in this thread.
— Ross (@rossbulat) October 30, 2023
One of the features of this upgrade is the ability to view the 14-day activity of validators on the Polkadot network, as well as their performance with regard to the staker’s nominations. The upgrade also supports light clients and enables asynchronous synchronization, enhancing the overall user experience.
The dashboard includes a ranking system that classifies validators based on their performance, allowing potential stakers to make well-informed decisions. The dashboard showcases the validator with the best performance by default to ensure maximum accuracy.
This upgrade aims to promote transparency and ease of use, ultimately encouraging greater participation in the Polkadot network. Combined with high-profile partnerships and increased accessibility through the Staking Dashboard 1.1, Polkadot is positioned for continued growth.
What is Polkadot (DOT)?
Polkadot is a multi-chain platform that allows different blockchains to interoperate and share information securely and efficiently. It aims to enable a decentralized web where multiple specialized blockchains can work together seamlessly.
What is the Staking Dashboard 1.1?
The Staking Dashboard 1.1 is an upgrade to the Polkadot ecosystem that provides users with improved insights into the network’s validator activities and performance. It allows users to view the 14-day activity of validators on the Polkadot network and provides a ranking system to help users make informed decisions about staking.
Why did the upgrade lead to a surge in the price of Polkadot?
The upgrade to the Staking Dashboard 1.1 promotes transparency and ease of use, which encourages greater participation in the Polkadot network. With increased accessibility and improved features, more users are likely to stake their tokens, driving up the demand for Polkadot and resulting in a surge in its price.
What is the resistance point at $5 referred to in the article?
The resistance point at $5 is a price level at which Polkadot has historically faced significant selling pressure and struggled to surpass. Reaching and surpassing this resistance point is seen as a bullish signal that indicates potential further price increases.
Who developed the Polkadot Staking Dashboard 1.1?
The Polkadot Staking Dashboard 1.1 was developed by Ross Bulat, an engineer with Parity Technologies.