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The Polkadot network reached a landmark in terms of active accounts, while the Relay Chain gets an important technical update.

This week, we take a closer look at Ethereum, Ripple, Cardano, Shiba Inu, and Polkadot. Ethereum (ETH) Ethereum continues to hold above $3,000 and closed the week with a 2% price increase.

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The Polkadot (DOT) price is back above $7 after a volatile day on Thursday when the price dropped to as low as $6.79 before recovering.

Polkadot (DOT) has seen its market performance rebound, with prices stabilizing above $7 despite a broader market downturn. Meanwhile, Stacks price predictions signal possible volatility ahead. Amid these fluctuations, BlockDAG's refined roadmap and presale success, which is nearing $24.3 million, have captured the attention of investors and influencers.

Despite a massive price drop, Polkadot's network activity reached an all-time high in April.

Polkadot blockchain activity has surged to record levels, with active addresses hitting all-time highs for two consecutive months. Data from DotLake indicates the network boasted around 650,000 active addresses on-chain as of the end of April.

Polkadot has completed a significant upgrade and enhanced its network by implementing Asynchronous Backing, enhancing its flexibility in blockspace allocation and overall performance.

Polkadot stands as a beacon of progress and possibility. Its latest stride forward comes in the form of Asynchronous Backing, a monumental upgrade poised to redefine the landscape of decentralized finance, gaming, and beyond.

Polkadot (DOT) stands as a beacon of innovation and resilience, poised at the intersection of technology and finance. As DOT embarks on its tumultuous journey, traversing the treacherous waters of the crypto seas, its encounter with critical resistance levels unveils a narrative of struggle, determination, and anticipation.

Check out what is the latest update introduced by Polkadot.

Polkadot has implemented asynchronous backing, a pivotal upgrade enhancing the network's flexibility in blockspace allocation and overall performance. This upgrade is one of the three technological advancements, alongside Elastic Scaling and Agile Coretime, driving the blockchain towards its Polkadot 2.0 vision.

Following a bounce from the lower boundary of the current price range at $6.4, Polkadot experienced a surge, reaching the upper threshold, coinciding with a significant resistance area. Consequently, a slight rejection is anticipated, with the price targeting the lower part of the range.

Polkadot is expecting to overhaul its Relay Chain protocol in the near future; however, before that happens, it has made a very important upgrade. The protocol called the latest upgrade "Asynchronous Backing," an optimized approach for how parachain blocks are validated by the Relay Chain.

Polkadot (DOT) is correcting gains from the $7.5 resistance against the US Dollar. The price could start another increase if it stays above the $6.75 support.

The Polkadot community has approved a proposal to sponsor Inter Miami, the football club co-owned by David Beckham and featuring superstar Lionel Messi. The move could be a strategic decision to propel Polkadot, a smart contracts platform similar to Ethereum, into the global spotlight.

Polkadot developer Kian Paimani has proposed a flexible inflation upgrade for the network to address the issues tied to the blockchain's inflation logic. According to the proposal's GitHub document, the Polkadot relay chain's current state presents various challenges, including high inflation rates.

Polkadot's native cryptocurrency, DOT, has emerged as a standout performer in the digital asset market, with analysts predicting a significant price surge.

The introduction of the Interchain Amplifier by Interop Labs marks a significant stride towards achieving broad interoperability across diverse blockchain networks.

The Polkadot (DOT) price has registered a drop of nearly 4% over the past 24 hours. However, despite the decline, DOT has stayed above the crucial $7 level.

"Buying DOT now is almost as good as if you had bought it exactly 6 months ago," one analyst suggested.

Polkadot has been mired in a prolonged consolidation phase, hovering around the pivotal 200-day moving average and the $6.3 mark, reflecting uncertainty regarding its future trajectory. However, a breach below this crucial support area could culminate in a decline towards the $5.1 threshold.

Polkadot (DOT) has recently shown a promising recovery, maintaining a price level above $7 over the past few sessions, with the 200-day SMA providing support.

Polkadot is battling it against the market, recovering momentum this week following a prolonged downward trajectory. $DOT began trading above $7 this week and appears to hold its position.