Polkadot Makes Strides in Development with DOT Gaining 5% Weekly

• The latest edition of Polkadot’s weekly digest was released, highlighting notable developments in the ecosystem
• XCM version 3 was merged and Polkadot 0.9.37 was released with medium upgrade priority
• DOT registered over 5% weekly gains, with an on-chain volume that remained consistently up

Polkadot has been making strides in its development over the last week, with several notable developments that have been detailed in its latest weekly digest. The digest highlighted the approval and implementation of Referendum 96, which resulted in the Polkadot runtime being updated to version 9340. This update allowed for the maximum number of nominators receiving rewards per validator to increase from 256 to 512.

The third version of Polkadot’s XCM has also been merged after 15 months of work. XCM 3.0 will enable bridges, cross-chain locking, exchanges, NFTs, conditionals, context-tracking, and more. Polkadot 0.9.37 was also released during the last week with medium upgrade priority, and DOT remains the second largest network in terms of developer count.

In terms of market performance, DOT was able to remain consistently in favor. CoinMarletCap’s data revealed that DOT registered over 5% weekly gains, and at the time of writing, it was trading at $6.31 with a market capitalization of more than $7.3 billion. DOT’s on-chain metrics were also supportive of the network over the last seven days. For example, except for a short decline, DOT’s volume remained consistently up.

Moreover, Polkadot’s Profit Calculator allowed users to check their portfolio performance and make sure it is green. This has been an invaluable tool for DOT investors to track their investments and make sure that their portfolios are performing well.

Overall, Polkadot has made considerable progress over the last week, with the network showing signs of consistent growth and stability. With the continued development of the network, Polkadot is sure to become a powerhouse in the blockchain ecosystem.