Polkadot recorded over 600,000 active wallets for the first time, but DOT continues to struggle despite this development.
Key Polkadot on-chain metrics showed that activity has picked up on the network, but it has yet to translate to increased transactions.experienced its highest number of active wallets in the past month, signaling a positive development for the platform. However, this uptick in active wallets was not mirrored in the number of transactions, which did not show a similar positive trend.
Notably, Moonbeam contributed the highest number of active addresses, with over 248,000. This figure represents a new all-time high for the network, surpassing the previous record of around 516,000 set in January.Additionally, Polkadot has also achieved a new record in its number of unique accounts. Data analysis indicates that the number of unique accounts reached over 5.59 million by the end of March, surpassing the previous figure of around 5.53 million recorded in February.
The number of transactions reached around 11.5 million, up from approximately 10.8 million in the previous month. However, both figures remain significantly lower than the 31.7 million transactions recorded in December, a peak that the network has yet to be able to replicate since then. experienced a 3.9% increase in price. This surge lifted its price from around $8.70 to $9.05. It marked the first notable positive movement for DOT in two weeks.
Following a decline from its previous high of over $11, DOT’s price was poised to stabilize around the $9 range. However, a downturn that commenced on 1st April pushed its price into this range.Adewale is a full-time journalist at AMBCrypto. While he is increasingly fascinating by the world of blockchain and cryptocurrencies, Adewale holds a degree in International Relations.
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