By the end of March, Polkadot boasted over 600,000 active addresses on-chain, with 248,000 linked to the cross-chain smart contract platform Moonbeam.
The Polkadot blockchain has set a new record with the highest number of active addresses. According to a post shared by Polkadot on April 7, data from DotLake revealed that Polkadot had over 600,000 active addresses on-chain by the end of March. Among these addresses, more than 41%, totaling 248,000, are linked to the cross-chain smart contract platform Moonbeam. Additionally, 191,000 addresses were generated directly on the Polkadot platform itself, as reported by DotLake.
Polkadot’s Growth and Transaction Trends
One indicator of Polkadot’s growth is the increasing number of unique accounts with balances greater than zero. By the end of March, there were over 5.59 million such accounts, marking an increase from 5.53 million at the end of February.
Transaction Volume and Performance
However, despite the growth in user accounts, the network’s transaction volume remains relatively low. In March, Polkadot recorded an overall number of monthly transactions totaling 11.58 million. While this is slightly higher than April’s 10.8 million, it falls significantly short of December 2023’s 31.78 million transactions.
Polkadot’s native token, DOT, has seen a 4.68% increase in the last 24 hours according to data from CoinMarketCap, currently trading at $8.99. However, it’s worth noting that DOT has experienced an 83% decline from its all-time high of $55 in November 2021.
Polkadot’s Memecoin Project: DOT is $DED (DED)
The Polkadot community embarked on its own memecoin venture, DOT is $DED (DED), which gained traction on March 23. This initiative aimed to leverage the current memecoin trend and attract new users to the blockchain. For every DOT token held by Polkadot investors, 36 DED tokens were distributed.
In an attempt to prolong the financial sustainability of the memecoin project, the team opted to reduce the initial airdrop allocation from 100% to 5% of the token supply. However, this decision left some retailers disheartened.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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