Polkadot’s latest milestone of 600k wallets: Can it push DOT to $10?

    Polkadot has seen an all-time high in active and unique wallets.
    DOT has managed to stay at around $9.

In the last thirty days, there’s been an increase in the number of Polkadot wallets being used, according to recent figures. This growth is a promising sign for the platform. Nevertheless, this surge in active wallets wasn’t reflected in the transaction count, which didn’t exhibit a corresponding upward trend.

Polkadot’s active account crosses 600,000

Over 605,000 unique accounts have become active within the Polkadot network according to recent figures from an analysis of its user base.

Significantly, Moonbeam had the most active addresses among all, numbering over 248,000. This is a new peak for the network, exceeding the earlier high of approximately 516,000 reached in January.

However, by February, this number had decreased to around 419,000.

Furthermore, Polkadot has set a new benchmark with over 5.59 million distinct accounts as of March’s end. This number represents an increase from the approximately 5.53 million unique accounts counted in February.

This milestone marks a new all-time high for the platform.

Polkadot transactions dip

Although more distinct and engaged Polkadot users have emerged, the transaction volume hasn’t significantly grown in response. A review of transaction statistics indicated only a slight uptick as compared to February.

Around 11.5 million transactions occurred last month, which is over a million more than the roughly 10.8 million transactions in the preceding month.

Despite this, the numbers of transactions are still much lower than the 31.7 million recorded in December, which is the highest figure the network has failed to surpass since then.

DOT holds at $9

On the last trading day of April 8th, Polkadot (DOT) underwent a 3.9% price hike. As a result, its value rose from approximately $8.70 to $9.05. This was DOT‘s first significant price rise in two weeks.

Polkadot’s latest milestone of 600k wallets: Can it push DOT to $10?

 Realistic or not, here’s DOT market cap in BTC’s terms

The price of DOT had been dropping since it reached more than $11, and was expected to hover around $9. But starting on April 1st, a new slump caused the price to fall into this lower range.

At the moment I’m writing this, DOT was priced approximately at $9.03 on the exchange, showing a small decrease of almost nothing, about 0.1%.

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2024-04-10 06:15