- Messari revealed the state of Polkadot in Q4 of last year.
- Active and new Polkadot accounts spiked in the same timeframe.
- Polkadot’s native token, DOT, is currently trading at $6.75.
A report on the state of the Polkadot ecosystem during the fourth quarter of the previous year was recently compiled and released by the cryptocurrency research and data company Messari.
According to Messari, during the fourth quarter of 2022, the number of daily active users and new accounts climbed by 64 and 49 percent, respectively. Experts believe that the surge in activity may be attributed to users shifting their focus away from FTX, the debut of USDT, and the opening of nomination pools.
The FTX scandal was allegedly the major event that took place during the fourth quarter of 2022, as it sent shockwaves worldwide and garnered attention from countries all over the globe.
The market capitalization of Polkadot had a decline of 31% year-over-year during the most recent quarter (QoQ), according to the report. Notably, Polkadot’s market valuation has decreased by 83% compared to the previous year due to the impact of FTX and the general bear market (YoY).
The network’s financial situation purportedly remained unchanged despite the drop in value. During Q4, quarterly revenue stayed the same, and there was an increase in the supply of DOT tokens, as anticipated.
The Web3 Foundation announced in November that after three years of conversations with the Securities and Exchange Commission (SEC), the DOT token, which was previously presented as a security but is no longer considered one, has been delisted from the SEC list of securities.
According to the report, the Polkadot Relay Chain also had remarkable growth from the previous quarter in the fourth quarter of 2022. Q4 was likely its most significant quarter of the year.
In other reports, Polkadot’s native token, DOT, is currently trading at $6.75 with a 24-hour trading volume of $243,254,169, according to Coinmarketcap.
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