Polkadot News Today: Polkadot Gains 8.48% Amid Bifrost's 81% LST Market Share and Network Upgrades

Bifrost, a key participant in the Polkadot ecosystem, currently controls over 81% of the liquid staking token (LST) market, with more than $90 million in total value locked (TVL) [1]. This significant market share underscores Bifrost’s role in driving DeFi expansion on the Polkadot (DOT) network, as users increasingly seek yield-generating opportunities without locking up their DOT tokens [1]. Liquid staking has emerged as a cornerstone for DeFi adoption, and Bifrost’s dominance indicates strong traction within the Polkadot community [1].

The Polkadot network has seen recent upgrades that have contributed to increased stability and functionality. These improvements have prompted major exchanges, such as Bitbank, to resume DOT deposits and withdrawals, signaling a growing confidence in the network’s performance and reliability [1]. Alongside these technical developments, Polkadot continues to refine its decentralized governance model, which allows DOT token holders to directly influence protocol decisions [1].

Polkadot’s strategic focus on interoperability positions it as a unique player in the evolving multi-chain environment. The network enables seamless communication and value transfer across different blockchains, a feature that could attract more developers and institutional partners in the long term [1]. ETHNews analysts highlight this as a key strength, noting that Polkadot’s infrastructure aligns well with future trends in blockchain innovation [1].

In terms of price movement, Polkadot (DOT) has experienced a notable 8.48% daily gain, reaching $4.18 with a market cap of $6.72 billion and a 24-hour trading volume of $507 million. The recent rebound from the $3.91–$3.95 support zone, coupled with strong RSI momentum, suggests short-term bullish sentiment [1]. A decisive close above $4.20 resistance could propel DOT toward $5.50 in the medium term, while a breakdown below $4.00 may reinvigorate bearish pressure [1].

From a technical standpoint, DOT’s price action has shown signs of reversal within a long-term falling wedge structure. Buyers have been defending the $4.20 support zone and pushing toward key resistance levels that could facilitate a broader bullish breakout [1]. Higher timeframes suggest that the asset may be entering a new impulsive cycle following a completed corrective phase, per Elliott Wave analysis [1].

Polkadot’s visibility has also increased through its participation in global events such as Vietnam Blockchain Week and through regular developer AMAs. These efforts reflect the network’s ongoing commitment to expanding its ecosystem and engaging with both developers and end-users [1].

Despite the recent price gains, DOT remains down 36.88% year-to-date and is still over 82% below its all-time high of $55.13. Long-term success will depend on the network’s ability to sustain positive momentum and maintain its competitive edge in the DeFi and multi-chain landscape.

Source: [1] Bifrost Controls 81% of Liquid Staking, Driving Polkadot’s DeFi Expansion (https://coinmarketcap.com/community/articles/689bbe00f5c8bb5c385fcbf8/)