- Polkadot had over 600,000 active addresses on-chain by the end of March.
- 248,000 are associated with the cross-chain smart contract platform Moonbeam.
The number of active addresses on the Polkadot blockchain has surpassed all previous records. An April 7 X post by Polkadot provided statistics from DotLake, which showed that Polkadot had over 600,000 active addresses on-chain by the end of March.
Among the 605,000 addresses, 248,000 (or more than 41%) are associated with the cross-chain smart contract platform Moonbeam, while 191,000 were generated on Polkadot itself, as reported by DotLake.
Several Positive Growth
Another indicator of growth is the increasing number of unique accounts with balances greater than zero. At the end of March, there were more than 5.59 million accounts, up from 5.53 million at the end of February.
But overall, the network’s transaction volume is still low. The overall number of monthly transactions recorded by Polkadot in March was 11.58 million, which is somewhat higher than April’s 10.8 million but much lower than December 2023’s 31.78 million.
Polkadot’s DOT token, is up 4.68% in the last 24 hours as per data from CoinMarketCap and is currently trading at $8.99. However, DOT has fallen 83% from it’s all-time high of $55 in November 2021.
The Polkadot community created its own memecoin, DOT is $DED (DED), which began trending on X on March 23, in an attempt to cash in on the present memecoin craze and attract new users to the blockchain. For every one DOT token owned by Polkadot investors, 36 DED tokens were made available.
In an effort to provide the memecoin a longer financial runway, the team decided to cut the first airdrop allocation from 100% to 5% of the token supply, which disheartened retailers.
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