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Polkadot (DOT) Active Accounts Number Jumps by 300% in Two Weeks

Tue, 11/15/2022 - 10:57
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Vladislav Sopov
Polkadot (DOT) cross-network ecosystem sees remarkable upsurge of accounts activity
Polkadot (DOT) Active Accounts Number Jumps by 300% in Two Weeks
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Analysts noticed an impressive spike in account activity on the Polkadot (DOT) blockchain. Here are two metrics that went through the roof amid a painful November 2022 in crypto.

Polkadot (DOT) on-chain activity prints new highs

According to data shared by Dot Insights, a project designed to track the progress of the Polkadot (DOT) and Kusama (KSM) ecosystems, Polkadot (DOT) demonstrates unwitnessed on-chain activity despite markets falling.

For instance, in November 2022, the number of daily new accounts (on-chain public addresses on the Polkadot [DOT] network) rocketed by almost 900%.

Also, the number of active accounts spiked from 1,100 to 4,516, a more than 300% increase. To some extent, both upsurges can be attributed to the outflow of liquidity from centralized exchanges.

Also, as covered by U.Today, Web3 Foundation stated that Polkadot (DOT) smashed throigh a landmark milestone. According to Daniel Schoenberger, сhief legal officer of W3F, Polkadot's DOT becomes the first-ever altcoin that is not a security any longer.

Polkadot Crypto DOT No Longer Security: "Token Has Morphed"

This breakthrough is the result of three years of consultations with the U.S. SEC's workgroups on digital assets and other regulatory watchdogs.

Polkadot's (DOT) rival Cosmos (ATOM) fails to implement major upgrade

On Sept. 27, 2022, Polkadot (DOT) also unveiled its updated roadmap to streamline the onboarding of innovations to its infrastructure and "canary network," Kusama (KSM).

Meanwhile, yesterday (Nov. 14), its major competitor Cosmos (ATOM) failed to adopt its most crucial update in years, Cosmos 2.0. This update would have been allowed Cosmos Hub to manage a large share of ATOM funds.

Cosmos 2.0 (ATOM) Proposal Voting Campaign Has Started: Details

However, despite being supported by the majority of voters, the update was rejected by "NoWithVeto" votes by enthusiasts who claimed that Cosmos 2.0 is dangerous to the project's progress.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)