The Polkadot blockchain recently reached a milestone by surpassing 600,000 active addresses on its network. The data shared by DotLake in a post by Polkadot on April 7 showcased the growth in activity within the Polkadot ecosystem, triggered by various applications utilizing dedicated blockspace to avoid network spam.
The distribution of these active addresses reveals that over 41% (approximately 248,000) belong to Moonbeam, the cross-chain smart contract platform, while about 191,000 addresses were directly created on Polkadot itself, according to data from DotLake. Moreover, the number of unique accounts with non-zero balances shows an upward trend, exceeding 5.59 million accounts by the end of March.
Despite the growth in active addresses, the total transactions on the network remain low. In March, Polkadot recorded a total of 11.58 million transactions, a slight increase from April but significantly lower than the 31.78 million transactions seen in December.
The value of Polkadot's token, DOT, experienced a 3.3% decline in the 24 hours leading up to 12:38 pm UTC, with a trading price of $8.95, making it the 14th largest cryptocurrency based on market capitalization. The current price of DOT reflects an 83% decrease from its all-time high of $55 in November 2021.
In an attempt to engage the community and attract new participants to the blockchain, the Polkadot community launched its own memecoin, DOT is $DED (DED). Despite generating initial excitement, DED failed to sustain interest post-airdrop distribution. As of now, DED is valued at slightly over $0.001, with limited trading volume observed for the DOT/DED pair on Hydradx.
