- Cody Buffington has spotted an ongoing development in the Polkadot (DOT) ecosystem.
- Buffington thinks Polkadot’s upgrade would trigger a surge in DOT’s price.
- HNT is exhibiting bullish signals following recent Helium partnerships.
The Altcoin Buzz YouTube channel host Cody Buffington has spotted an ongoing development in the Polkadot (DOT) ecosystem that could trigger a price surge in its native token in 2024. According to Buffington, the Web3 interoperability blockchain project is introducing a dynamic and flexible economic model for managing computational resources.
In a recently uploaded video on YouTube, Buffington highlighted that Polkadot 2.0 will introduce agile coretime, elastic scaling, and asynchronous backing, using the new implementations to reduce entry barriers and resource inefficiencies. Polkadot will also replace the current slot auction model with more flexible on-demand and bulk options for purchasing backspace.
Furthermore, Buffington explained that the upcoming enhancements will enable Polkadot to function similarly to Amazon Web Services (AWS) or Azure, where storage and computing capabilities are produced, allocated, and scheduled to scale dynamically based on business needs.
DOT has remained under bearish pressure since declining from a $55.134 all-time high (ATH) in 2021. The 2021 rally classified the decentralized blockchain’s altcoin as one of the remarkable performers during the last bull cycle. However, trading for $4.405 at press time indicates that the coin has lost 90% of its value from the ATH. Buffington believes the ongoing development will mark a turnaround for the pressured altcoin.
In another development, Buffington spotted a price surge on Helium’s HNT crypto token on August 13, making it one of the leading gainers in the crypto market. According to Buffington, the crypto asset’s daily trading volume jumped by 56% on the same day, with its market cap of around $1.14 billion.
The crypto analyst linked HNT’s latest surge to Helium’s recent partnership with two major U.S. carriers. He noted the carriers are conducting trials to offload their traffic onto the Helium mobile network, resulting in the surging HNT price.
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