This summary text is fully AI-generated and may therefore contain errors or be incomplete.
The price of Polkadot (DOT) has been on the rise, thanks to the thriving ecosystem surrounding stakers, crowdloans, and Parachains. In a recent announcement, the Web3 Foundation revealed plans to invest $1 million in US T-bills through Centrifuge. With a 26 percent increase in the past four weeks, DOT is expected to continue its upward trajectory and potentially close the year trading above $7. As Bitcoin reached a new yearly high, Polkadot emerged as one of the top altcoins in terms of gains. The altcoin has been preparing for a surge to its all-time high after bouncing back from its crypto-winter lows. The DOT price has been in correction mode for the past three weeks, but the second bullish leg of the Ellion wave rally has just begun. With more buyers entering the market above the $5 support level, DOT is aiming to reach the next liquidity level above $7 within the next four weeks. The Web3 Foundation’s investment in US T-bills is part of its push to expand Polkadot’s presence in the US market. Despite the complex regulatory landscape, international web3 projects are seeking operational licenses in the country. The investment into real-world assets through Centrifuge is expected to drive significant growth and innovation for Polkadot’s infrastructure and technology. The collaboration between Centrifuge and Web3 Foundation sets the stage for the tokenization of real-world assets. The investment in US T-bills offers web3 investors access to highly liquid assets with low-risk returns. The Polkadot network has experienced substantial growth over the past year, with over 51 percent of the total circulating supply of DOT being staked to secure the network of Parachains. The network has attracted diverse web3 networks from various sectors, including the metaverse, IoT, and DAOs. Despite its success, the Polkadot network has faced criticism for its high annual inflation rate of around 7 percent, which is higher than some fiat currencies. With a market valuation of $7.5 billion and an average daily trading volume of $300 million, Polkadot is well-positioned to continue its exponential growth in the upcoming bull market.