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Polkadot (DOT) Active Accounts up 64% in Q4, 2022, Messari Says

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Wed, 8/02/2023 - 16:33
Polkadot (DOT) Active Accounts up 64% in Q4, 2022, Messari Says
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Polkadot (DOT), the oldest and largest cross-chain project of the Web3 segment, smashed through a number of landmark achievements in Q4, 2022. Messari expert Nicholas Garcia highlighted some of them.

Polkadot (DOT) daily active accounts number jumps by 64%, here's why

According to the recent State of Polkadot Q4 2022 report by Messari, a flagship cross-chain ecosystem Polkadot (DOT) witnessed a notable upsurge in user and developer activity in recent months. For instance, the number of daily active accounts added 64%, while the quantity of new accounts surged by 49%.

Most likely, this increase should be attributed to the outflow of users from collapsed crypto exchange FTX, the launch of largest stablecoin U.S. Dollar Tether (USDT) and the activation of nomination pools.

Since its launch in May 2022, Polkadot's native cross-chain messaging protocol XCM has transmitted more than 166,00 transfers over 70 channels. The next iteration of XCM (v3 release) is set to unlock even more impressive functionality as it will introduce seamless crypto transfers, NFT transactions and bridging to external blockchains.

Also, Polkadot Treasury spent the record-breaking sum from its reserves: 863,000 DOT were unlocked in Q4, 2022, thanks to the activation of Polkadot-Ethereum interoperability protocol Snowbridge.

OpenGov is live on Kusama (KSM), Polkadot (DOT) launches approaching

In Q4, 2022, Polkadot (DOT) ecosystem celebrated the first anniversary of parachain slot auctions. Thirty-five slots were leased by Polkadot-based projects, with a total of 133 million DOT tokens bonded (10.5% of its total supply).

In addition, on Nov. 5, 2022, Polkadot's (DOT) Web3 Foundation dropped a bombshell announcing that as a result of three years of discussions with the U.S. SEC, DOT token "morphed" and was no longer a security.

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As such, DOT becomes the first altcoin in the entire history of cryptocurrencies to have its nonsecurity status confirmed by the U.S. regulator.

Also, a major milestone for Polkadot (DOT) is approaching. After the activation of OpenGov governance module on Kusama (KSM), it will also come to the main blockchain of the ecosystem.

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