TL;DR
- Polkadot has registered over 600,000 active addresses, an unprecedented growth in its network.
- The introduction of the memecoin DOT is $DED failed to achieve the expected impact. Despite offering a ratio of 36 DED tokens for every DOT held.
- DOT experienced a 4.13% increase in the last 24 hours, trading at $9.07.
The growth of Polkadot (DOT) has reached new records with the registration of over 600,000 active addresses on its network. This figure, reported by DotLake and shared by Polkadot in an April 7 statement, is evidence of the increasing activity within the platform. Despite this significant achievement. Community efforts to attract more attention to the protocol through the introduction of the memecoin called DOT is $DED have not had the expected impact.
The creation of DOT is $DED emerged as an initiative to capitalize on the current memecoin boom and attract more participants to Polkadot. However, despite offering a ratio of 36 DED tokens for every DOT held. The community response was not as expected. Even after reducing the initial airdrop allocation from 100% to 5% to ensure greater financial stability, interest remains low. Currently, the value of DED is just over $0.001, with a daily trading volume of only $20,536.
Activity continues to grow in the Polkadot ecosystem, where many apps use dedicated blockspace to prevent issues like network spam 🛡️
Polkadot is about flexibility without compromising on resilience 🔗
In the end, this benefits the users 👥 pic.twitter.com/s7bkO7rVqT
— Polkadot (@Polkadot) April 7, 2024
Polkadot (DOT) Rebounds Above $9
However, the growth in the number of active addresses and unique accounts on the Polkadot network is an encouraging indicator of increased activity and engagement within its ecosystem. More than 41% of active addresses are associated with Moonbeam, the cross-chain smart contract platform.
Additionally, the total number of transactions on the Polkadot network in March was 11.58 million. A slight increase from April, although considerably lower than the peaks recorded in December 2023. Despite the moderation in the number of transactions. The community continues to show active interest in the network and its long-term potential.
Good news also comes to DOT, which experienced a 4.13% increase in the last 24 hours, trading at $9.07. Despite the volatility, Polkadot remains one of the top cryptocurrencies by market capitalization and continues to attract the attention of investors and developers due to its focus on cross-chain interoperability and innovation in the blockchain industry.
