The most recent knowledge from Santiment revealed that Polkadot [DOT] ranked above Ethereum [ETH] and Solana [SOL] because the blockchain with the best improvement exercise up to now seven days.

Whereas improvement exercise on Ethereum and Solana totaled 78.79 and 67.21, respectively, within the final week, Polkadot logged a improvement exercise index of 3124.14 throughout the identical interval.

As well as, as of 18 October, Polkadot recorded a rely of 1,400 month-to-month energetic builders on the community. This represented a 1400% increment within the rely of month-to-month energetic builders on the chain on a year-over-year foundation. 

There are some issues 

Whereas improvement exercise on Polkadot continues to rally because of site visitors on its parachains, the community has did not see development in different regards.

An evaluation of the community’s on-chain efficiency within the final week revealed a decline within the rely of day by day energetic customers on the community and a drop in its day by day income.

In line with knowledge from Token Terminal, day by day income on Polkadot has declined persistently up to now 180 days. Reportedly, Polkadot’s day by day income has dropped by 80.2% within the final 180 days, 37.3% within the final 90 days, 7.3% within the final 30 days, and 26.6% within the final week. 

Toeing an identical path of decline, charges paid to course of transactions on the Layer 0 blockchain day by day have additionally dropped, as per knowledge from Token Terminal.

Supply: Token Terminal

Moreover, knowledge from Subscan confirmed a constant drop within the community’s day by day energetic customers because the starting of the yr. After clinching a day by day excessive of 40,360 addresses on 12 November 2021, the rely of day by day energetic addresses on Polkadot has since plummeted. As of 18 October, just one,190 addresses used the chain.

Supply: Subscan

Nobody is protected

DOT, Polkadot’s native coin, has not been neglected of the continued decline that has plagued the community. Within the final month alone, the worth of the #12 cryptocurrency asset has dropped by 6%. On a year-to-date foundation, the asset’s value was down by 77%, knowledge from CoinMarketCap revealed. 

The persistent fall within the asset’s value within the final month resulted in a corresponding decline in its buying and selling quantity. In line with knowledge from Santiment, DOT’s buying and selling quantity dropped by 41%. It totaled $189 million, as of this writing.

Supply: Santiment




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