{"id":75450,"date":"2024-04-08T09:47:45","date_gmt":"2024-04-08T13:47:45","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=75450"},"modified":"2024-04-08T09:47:49","modified_gmt":"2024-04-08T13:47:49","slug":"polkadot-hits-milestone-of-600k-active-addresses","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/polkadot-hits-milestone-of-600k-active-addresses\/","title":{"rendered":"Polkadot Hits Milestone of 600K Active Addresses"},"content":{"rendered":"\n

The number of active addresses on the Polkadot blockchain<\/a> has increased to a record milestone of 600,000.<\/p>\n\n\n\n

\"Polkadot
Polkadot Hits Milestone of 600K Active Addresses<\/figcaption><\/figure>\n\n\n\n

By the end of March, Polkadot had over 600,000 active addresses on-chain, based on data from DotLake that Polkadot revealed in an April 7 X post.<\/p>\n\n\n\n

“The Polkadot ecosystem is still growing, with many apps using dedicated blockspace to avoid problems like network spam.”<\/p>\n\n\n\n

\n

\u201cActivity continues to grow in the Polkadot ecosystem, where many apps use dedicated blockspace to prevent issues like network spam.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

\"Polkadot:
Polkadot: Active addresses chart. Source:\u00a0<\/em>Polkadot<\/em>\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/figcaption><\/figure>\n\n\n\n

DotLake data indicates that 248,000 out of 605,000 addresses, or more than 41% of the total, are linked to the cross-chain smart contract platform Moonbeam, whilst 191,000 addresses were established directly on Polkadot.<\/p>\n\n\n\n

Additionally, there are more and more distinct accounts with non-zero balances; at the end of March, there were over 5.59 million accounts, up from 5.53 million at the end of February.<\/p>\n\n\n\n

\"Number
Number of unique accounts. Source:\u00a0DotLake<\/figcaption><\/figure>\n\n\n\n

On the network, overall transactions are still modest. Polkadot recorded 11.58 million monthly transactions in March, a slight increase from 10.8 million in April but a far cry from the 31.78 million transactions registered in December.<\/p>\n\n\n\n

\"Number
Number of transactions. Source:\u00a0DotLake<\/use><\/svg><\/span><\/a><\/figcaption><\/figure>\n\n\n\n

In the 24 hours before 12:38 pm UTC, Polkadot's DOT token dropped 3.3%, trading at $8.95, making it the 14th largest cryptocurrency by market capitalization. According to CoinMarketCap data, DOT has fallen 83% from its all-time high of $55 in November 2021.<\/p>\n\n\n\n

DED Memecoin <\/h2>\n\n\n\n

The Polkadot community created its memecoin, DOT is $DED (DED), which began trending on X on March 23 to cash in on the current memecoin mania and attract new users to the blockchain. For each DOT held, investors with Polkadot could receive 36 DED tokens.<\/p>\n\n\n\n

The retail mood soured after one of the meme coin's pseudonymous developers, Giotto De Filippi, revealed during a March 24 X Spaces that the company had cut the initial airdrop allocation from 100% of the token supply to just 5% to establish a longer financial runway for the meme coin.<\/p>\n\n\n\n

After the airdrop distribution, DED has minimal interest, with a current value of just over $0.001. The Hydradx liquidity pool shows that the 24-hour trading volume for the DOT\/DED trading pair was only $20,536.<\/p>\n","protected":false},"excerpt":{"rendered":"

The number of active addresses on the Polkadot blockchain has increased to a record milestone of 600,000. By the end of March, Polkadot had over 600,000 active addresses on-chain, based on data from DotLake that Polkadot revealed in an April 7 X post. “The Polkadot ecosystem is still growing, with many apps using dedicated blockspace […]<\/p>\n","protected":false},"author":12,"featured_media":75462,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[19061,2027,650,487],"class_list":["post-75450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ded-2","tag-dot","tag-memecoin","tag-polkadot"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/04\/image-38.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/75450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=75450"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/75450\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/75462"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=75450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=75450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=75450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}