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Polkadot price remained above its make-or-break level this week as Bitcoin and most cryptocurrencies crashed. Polkadot (DOT) fell to a low of $4, slightly higher than the critical support level at $3.60, where it has failed to fall below several times since 2022. The token has held steady above this support level for two main reasons. First, Grayscale and 21Shares have filed for a spot DOT exchange-traded fund, which they hope will be popular among Wall Street investors. Spot Bitcoin (BTC) and Ethereum (ETH) ETFs have done fairly well among investors, as they attracted a combined $40 billion in assets. Second, Polkadot price has remained steady as the network prepares to launch Polkadot 2.0 which will introduce new changes. It will introduce features like agile coretime, elastic scaling, and asyncronous backing. The upgrade’s goal is to reduce the average block time to just 6 seconds and allow dynamic scaling, which will make it one of the fastest layer-1 networks in the crypto industry. Polkadot 2.0 will also lower the barriers to developers aiming to build on the chain. It will do that by introducing an Ethereum Virtual Machine, or EVM, which will enable developers to build dApps without going through the expensive and time-consuming parachain auction process. Polkadot 2.0 will also have JAM, which will enhance its capabilities, transforming it from an interoperable blockchain into a complete suite for building all types of Web3 applications. Dr Gavin Wood– Wrote Ethereum yellowpaper in 2014– Wrote Polkadot whitepaper in 2016– Now released JAM graypaper in 2024The foundation of future Polkadot 2.0 ⭕️It will combine the strength of Polkadot & EthereumA Mega Thread on the future of Polkadot 🧵[1/19]⬇️ pic.twitter.com/eRCqcAbCkK — Emil Kietzman🐂⭕️ (@EmilKietzman) April 18, 2024 You might also like: Polkadot launches JAM course to empower web3 developers Polkadot price analysis DOT price chart | Source: crypto.news The weekly chart shows that the DOT price avoided dropping below the support at $3.60, even as most altcoins crashed. That price is a crucial one since DOT has formed a quadruple bottom since 2022. Like a double bottom, a quadruple one is a highly bullish sign in technical analysis. Polkadot price has also formed a small falling wedge pattern, which happens when there are two falling and converging trendlines. These two lines are now nearing their confluence levels, pointing to an eventual rebound. The first target for this price action is $11.72, the highest swing in November last year and 170% above the current level. The second target will be at $23.80, the 38.2% retracement level. Read more: NFT sales plummet 28.9% to $107m, Pudgy Penguins sales drop 80%

> OPinit Stack The OPinit Stack, a Cosmos optimistic rollup framework, enables Mintia to support various virtual machines, including MoveVM, WasmVM, and EVM. This flexibility ensures that Mintia can cater to a broad spectrum of applications and developer preferences.

> Dev Side Demand On the Layer 2 side, developers gain increased flexibility with virtual machine options, native USDC support, IBC support, 10K TPS, 500ms block time, and substantial incentives based on rollup usage, likely motivating more developers to launch L2s on Initia.

The popular Ethereum (ETH)-focused crypto wallet MetaMask plans to introduce native Bitcoin (BTC) and Solana (SOL) support in the coming months. MetaMask announced this week that Solana would be added in May, which represents the wallet’s first native non-Ethereum Virtual Machine (EVM) support. The project plans to add Bitcoin compatibility sometime in Q3. SOL defied a wavering crypto market on Friday and surged by 7.5%. The sixth-ranked crypto asset by market cap is trading at $147.49 at time of writing. MetaMask announced the new features amid a swelling user base. In a statement issued in February, the wallet’s developer Consensys said that the project’s monthly active users (MAU) rose from 19 million to more than 30 million between September 2023 and January 2024. That’s an increase of over 55%. The number of monthly active users nearly matches MetaMask’s historical high of 31.7 million recorded in January 2022. The wallet also recently inked a partnership with retail trading giant Robinhood that enables MetaMask users to purchase crypto assets directly within the wallet using Robinhood’s order engine. The U.S. Securities and Exchange Commission (SEC) also recently agreed to drop its lawsuit against Consensys after suing the blockchain software firm over MetaMask last year. The regulator had claimed the wallet acted as an unregistered securities broker.

🤝 "The Role of Regulation in Bitcoin's Development and Adoption" 📊 📝 Introduction Regulation has played a crucial role in shaping the development and adoption of Bitcoin, the world's first decentralized digital currency 📊. As Bitcoin continues to grow and mature, regulatory frameworks and guidelines are being developed and refined to address its unique characteristics and challenges 🤔. In this article, we'll explore the role of regulation in Bitcoin's development and adoption, examining its impact on the ecosystem and the future of cryptocurrency 📈. 📊 Regulatory Frameworks 1️⃣ *Anti-Money Laundering (AML) and Know-Your-Customer (KYC) Regulations* 🚫: AML and KYC regulations aim to prevent illicit activities and ensure that Bitcoin transactions are transparent and secure 🔒. 2️⃣ *Securities and Exchange Commission (SEC) Guidelines* 📊: The SEC has provided guidelines for determining whether a cryptocurrency is a security, which has implications for Bitcoin's regulatory status 📈. 3️⃣ *Financial Action Task Force (FATF) Recommendations* 🌎: The FATF has issued recommendations for regulating virtual assets, including Bitcoin, to combat money laundering and terrorist financing 🚫. 📈 Regulatory Impact 1️⃣ *Increased Legitimacy* 📈: Clear and supportive regulations can increase Bitcoin's legitimacy, encouraging mainstream adoption and investment 🌟. 2️⃣ *Improved Security* 🔒: Regulations can help prevent illicit activities, such as hacking and theft, by ensuring that Bitcoin transactions are secure and transparent 🔓. 3️⃣ *Innovation and Growth* 📈: Regulations can foster innovation and growth in the Bitcoin ecosystem by providing clarity and certainty for businesses and investors 🌐. 🚨 Regulatory Challenges 1️⃣ *Balancing Regulation and Innovation* 🤔: Regulators must balance the need for regulation with the need to foster innovation and growth in the Bitcoin ecosystem 🌟. 2️⃣ *Jurisdictional Complexity* 🌎: Bitcoin's decentralized nature and global reach create jurisdictional complexity, making it challenging for regulators to develop effective frameworks 📊. 3️⃣ *Evolving Nature of Bitcoin* 🔮: Bitcoin's evolving nature and rapid development create challenges for regulators, who must adapt to new technologies and use cases 📈. 📊 Conclusion The role of regulation in Bitcoin's development and adoption is complex and multifaceted 🤔. Effective regulation can increase Bitcoin's legitimacy, improve security, and foster innovation and growth 📈. However, regulatory challenges, such as balancing regulation and innovation, jurisdictional complexity, and the evolving nature of Bitcoin, must be addressed to ensure that regulation supports the growth and development of the Bitcoin ecosystem 🌟.