{"id":417991,"date":"2024-05-09T22:00:57","date_gmt":"2024-05-09T21:00:57","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=417991"},"modified":"2024-05-09T21:51:11","modified_gmt":"2024-05-09T20:51:11","slug":"record-breaking-user-engagement-on-polkadot-despite-price-slump","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/record-breaking-user-engagement-on-polkadot-despite-price-slump\/","title":{"rendered":"Record-breaking user engagement on Polkadot despite price slump"},"content":{"rendered":"

Polkadot<\/a> blockchain activity has surged to record levels, with active addresses hitting all-time highs for two consecutive months.<\/p>\n

Data<\/a> from DotLake indicates the network boasted around 650,000 active addresses on-chain as of the end of April. The growth continues the uptrend that saw the number of active blockchain addresses surpass its previous high of 605,000 in March.<\/p>\n

\"Polkadot
Polkadot Active Addresses. (Source: DotLake)<\/figcaption><\/figure>\n

Polkadot said<\/a> this milestone represents a significant uptick in activity, marking a new all-time high for monthly active accounts since the launch of parachains in 2022.<\/p>\n

The rising active addresses can be primarily attributed to Moonbeam. During the reporting period, the parachain accounted for over 60% of these addresses, totaling 397,515, while Polkadot had only 136,612 addresses.<\/p>\n

Moonbeam is an Ethereum-compatible smart contract parachain on Polkadot that is attracting considerable attention<\/a> from the community. According to data<\/a> from Polkadot Insider, the network had the highest user acquisition among Polkadot's parachains in April.<\/p>\n

Meanwhile, Polkadot's number of unique addresses with non-zero balances decreased slightly, dropping from 6.96 million in March to 6.8 million at the end of April. Furthermore, the total number of transactions on the network also saw a modest decline to 11.07 million in April, slightly down from 11.5 million in March.<\/p>\n

DOT's price subdued<\/h2>\n

Polkadot's rising metrics have yet to translate into an improved price performance for the network's native DOT token.<\/p>\n

\"Polkadot
Polkadot's DOT 30-days Price Performance. (Source: Tradingview)<\/figcaption><\/figure>\n

According to CryptoSlate's<\/em> data, DOT's price has fallen more than 20% within the last 30 days to $6.9 as of press time. The performance mirrors the general trend observed in the crypto market during the reporting period, with Bitcoin and other digital assets struggling<\/a> to reach the highs set earlier in the year.<\/p>\n

Nonetheless, crypto analyst Micha\u00ebl van de Poppe argued<\/a> that Polkadot was “heavily undervalued” and believes its “valuation is super low compared to Ethereum” because of its impending JAM Upgrade, which will improve the network's operations.<\/p>\n","protected":false},"excerpt":{"rendered":"

Polkadot blockchain activity has surged to record levels, with active addresses hitting all-time highs for two consecutive months. Data from DotLake indicates the network boasted around 650,000 active addresses on-chain as of the end of April. The growth continues the uptrend that saw the number of active blockchain addresses surpass its previous high of 605,000 […]<\/p>\n","protected":false},"author":720,"featured_media":418000,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76736],"tags":[75497,73927],"post_folder":[],"acf":[],"yoast_head":"\nRecord-breaking user engagement on Polkadot despite price slump<\/title>\n<meta name=\"description\" content=\"Polkadot blockchain network continues its upward trend with historic address activity during the last two months.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/record-breaking-user-engagement-on-polkadot-despite-price-slump\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Record-breaking user engagement on Polkadot despite price slump\" \/>\n<meta property=\"og:description\" content=\"Polkadot blockchain network continues its upward trend with historic address activity during the last two months.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/record-breaking-user-engagement-on-polkadot-despite-price-slump\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-09T21:00:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-09T20:51:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/05\/polkadot-addresses.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/record-breaking-user-engagement-on-polkadot-despite-price-slump\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/record-breaking-user-engagement-on-polkadot-despite-price-slump\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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