Polkadot hits record 600K active addresses.
Polkadot's ban has peaked with active addresses on the network.
Polkadot has collected more than 600,000 addresses on the chain, according to data from DotLake on Polkadot's April 7 X post.
Activity continues to grow in the Polkadot ecosystem, where many applications use the dedicated blockspace to prevent problems such as network spam.
More than 41%, or 248,000 of the 605,000 addresses, are owned by the cross-chain smart contract platform Moonbeam, while 191,000 addresses were created directly on Polkadot, according to Dotlac data.
The number of special accounts with non-zero balances has been increasing, surpassing 5.59 million accounts at the end of March, up from 5.53 million at the end of February.
However, overall transactions are hidden on the network. Polkadot saw a total of 11.58 million monthly transactions in March, up slightly from 10.8 million in April but below the 31.78 million transactions recorded in December 2023.
The Polkadot (DOT) token is down 3.3% in the 24 hours to 12:38 pm UTC, becoming the 14th largest cryptocurrency by market capitalization to trade at $8.95. DOT is currently down 83% from its all-time high of $55 in November 2021, according to CoinMarketCap data.
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DED could not deliver memecoin
In an effort to monetize the current memecoin frenzy and bring more participants to the blockchain, the Polkadot community spun off its own memecoin, DOT is $DED (DED), which debuted on X on March 23rd. Investors holding Polkadot were eligible. 36 DED tokens for every 1 point.
Giotto De Filippi, one of its anonymous developers, revealed on March 24 at X Spaces that the team reduced its initial airdrop allocation from 100% of the token supply to 5% after retail sentiment soured to create a longer financial runway for memecoin. .
DED is currently a little over $0.001, with little interest following the airdrop distribution. The DOT/DED trading pair raised just $20,536 in 24-hour trading volume.
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