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Polkadot-Based Moonbeam Announces It Booked Kusama Slot for Moonriver

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Moonbeam Network unveils that Kusama’s slot for the Moonriver smart contract environment is secured

Moonriver, an Ethereum-compatible smart contract environment, is a winner of the second Kusama (KSM) parachain slot auction. Moonbeam’s ‘sister chain’ is already processing Kusama blocks.

Moonriver debuts on Kusama

According to the official announcement by the Moonbeam team, its ‘sister chain’ Moonriver has successfully secured a slot in Kusama’s parachain infrastructure.

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Kusama Crowdloan, a one-of-a-kind community-driven concept by Kusama, made this release possible. Moonbeam enthusiasts supported Moonriver’s bet with more than 205,935 KSM (roughly $45 million) from 5,977 addresses around the world.

Moonriver’s ‘killing feature’ is its full-stack Ethereum (ETH) compatibility. As a result, it can be used by dApp developers familiar with Ethereum (ETH) to facilitate the migration of decentralized applications.

Derek Yoo, Founder of Moonbeam, is excited about the technology behind Moonriver and the support it gained from the global decentralization community:

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The Moonriver launch is the result of a huge amount of effort from a large number of contributors, extending far beyond the PureStake development team. We are grateful to our technology and ecosystem partners who helped make this happen, including Parity, Web3 Foundation, our collator community, our ambassadors, and all of the contributors to the Moonriver crowdloan. As Moonriver completes its launch sequence and enables full functionality in the coming weeks, we look forward to supporting all of our ecosystem partners who plan to deploy to the network.

Five-stage launch is ahead

The process of Moonriver’s roll-out comprises five stages: from phase 0 to phase 4. At press time, Moonriver is going through the ‘Centralized’ stage when the Moonbeam team is responsible for the entire procedure of blocks verification.

At Phase 1 and Phase 2, the Delegated Proof-of-Stake consensus of Moonriver will see its design rolled out on Kusama. Also, the decentralized governance model will go live.

Phases 3 and 4 will totally eliminate the team’s control from the network processes: the Sudo ‘master-key’ will be de-activated and all blockchain processes will be decentralized.

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Approximately, every stage of this roll-out will take two weeks, as estimated by Moonbeam Foundation engineers

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Polkadot

This Is How Polkadot(DOT) Price May React After Hitting $50!

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The crypto space is consolidating heavily for the consecutive second day showcasing a bearish trend. Most of the major assets are forming constant lower lows after a steep plunge. However, some altcoins like Polkadot is undergoing a reverse trend and attempting to reach the current highs. As the DOT price ranges above $50, the path towards a three-digit figure may get feasible. 

After the recent reversal, the asset managed to trend within a rising wedge since the beginning of the current trading month. Initially, the asset hit the strong resistance levels at $38 and successfully sliced through these levels after a slight pullback. However, the price is currently an inch close to forming a new ATH.

dotprice
Source: Tradingview

Despite the price is surging and forming more higher highs, yet the fear of a bearish divergence still hovers the rally. The appears to be trending within a rising wedge which usually ends up in a slight pullback. The correction could either end with a notable rebound from the immediate trend line, else it could hit the strong support levels at $40. 

However, the Polkadot price tends to reverse the trend in order to flip the bearish divergence soon. One of the popular analysts, FieryTrading, DOT price after forming a new ATH may not stop surging. The price currently resides at 1 Fib level and 2 Fib levels from beyond $100 at $120. And hence the target for Q4 maybe somewhere around $100.

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Polkadot

This Is How Polkadot(DOT) Price May React After Hitting $50!

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The crypto space is consolidating heavily for the consecutive second day showcasing a bearish trend. Most of the major assets are forming constant lower lows after a steep plunge. However, some altcoins like Polkadot is undergoing a reverse trend and attempting to reach the current highs. As the DOT price ranges above $50, the path towards a three-digit figure may get feasible. 

After the recent reversal, the asset managed to trend within a rising wedge since the beginning of the current trading month. Initially, the asset hit the strong resistance levels at $38 and successfully sliced through these levels after a slight pullback. However, the price is currently an inch close to forming a new ATH.

dotprice

Despite the price is surging and forming more higher highs, yet the fear of a bearish divergence still hovers the rally. The appears to be trending within a rising wedge which usually ends up in a slight pullback. The correction could either end with a notable rebound from the immediate trend line, else it could hit the strong support levels at $40. 

However, the Polkadot price tends to reverse the trend in order to flip the bearish divergence soon. One of the popular analysts, FieryTrading, DOT price after forming a new ATH may not stop surging. The price currently resides at 1 Fib level and 2 Fib levels from beyond $100 at $120. And hence the target for Q4 maybe somewhere around $100.

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Polkadot (DOT) Price Ready To Ignite, Aims 67% Upswing By End Of October 2021

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The crypto space is slowly on the verge to become the fastest growing and flourishing space as the market cap is heading towards $3 trillion at lighting speed. Bitcoin price and Ethereum price are heading towards their respective highs yet again gearing up other altcoins. And hence Polkadot (DOT) price following the trend may also gear up substantially. 

The price since the start of October 2021, maintained a considerable uptrend within a pattern. The asset was maintaining a silent trend with small dumps yet considerable large pumps until huge liquidity propelled the price from $34 to $42 a couple of days before. Since then DOT price repeated the same pattern in order to march towards its ATH.

polkadotchart
Source: Tradingview

As mentioned before, the price repeatedly formed a bull flag a couple of times and successfully ranged high. The asset has formed a similar pattern yet another time and could range above $50 with a successful breakout. Interestingly, the asset discovered a new support zone around $40 and bounced each time it visited these zones. 

However, the Polkadot price is on the verge to form yet another bull flag pattern for the third time in a row. And a breakout from these levels may lead the DOT price to trade within the discovery phase soon

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