The crypto money industry has been dyed red again with the latest news and developments.
Leading cryptocurrency Bitcoin (BTC), $30,000 again sagged below and is struggling to hold at $29,000.
meanwhile altcoins has also been hit hard, but an ecosystem continues to evolve and flourish.
The Polkadot ecosystem has been pretty muted in recent months. DOT, on the other hand, rose to the 5th largest cryptocurrency ranking for a period, but now it has dropped to the 11th place.
Despite this, a different activity has been seen in the Polkadot ecosystem in general in recent days.
There Is Mobility In The DOT Ecosystem
Polkadot (DOT) ecosystem began to recover on May 24, with value increases ranging from 10% to 25%.
This is a possible sign that certain altcoins and ecosystems of the cryptocurrency industry are on the verge of an explosion.
Polkadot’s leading DeFi platform, Acala (ACA), was the project that detonated the bomb.
Acala announced a $250 million ecosystem fund for the launch of the stablecoin named aUSD.
Investors were looking for a more secure stablecoin, especially since Terra’s stablecoin named UST collapsed, and this seems like a very good opportunity.
Although this news was actually announced on March 23, the fund has just been activated.
Acala, nine parachain teams, and a group of venture funds have launched the $250 million ‘aUSD Ecosystem Fund’ 🅰️💸
The fund is seeking early-stage projects from any @Polkadot or @KusamaNetwork parachain with strong $aUSD stablecoin use cases 🚀https://t.co/OJ2V47ZUry pic.twitter.com/NDgLg2bG8N
— Acala (@AcalaNetwork) March 23, 2022
Another important development of the Polkadot ecosystem was AstridDAO. The Astrid team had achieved a serious rise by signing a partnership with Microsoft.
Hello Astridians!
🔊 PARTNERSHIP ANNOUNCEMENT 🔊@Microsoft welcomes AstridDAO to @msft4startups program to Accelerate Growth of Decentralized Money Market and Stablecoin $BAI 🚀
Details below 🔗 👇 https://t.co/r9YO7E4NaS pic.twitter.com/J26pbrwCTU
— AstridDAO – No.1 native stablecoin on Primer (@AstridDAO) May 24, 2022
Finally, if Moonbeam (GLMR); With smart contracts compatible with the Ethereum network Uniswap Labs announced its partnership. All this shows that the ecosystem is developing even though the DOt price is stable.
In case the market recovers due to the developments, DOT may be at the top of the coins that will perform the best.