• Despite a bear market and the FTX scandal, Polkadot had an impressive quarter in Q4 2022 according to Messari.
• On-chain activity of Polkadot demonstrated remarkable growth Quarter on Quarter (QoQ) with daily active accounts increasing by 64% and number of new accounts increasing by 49%.
• Santiment listed Polkadot as the leader in development activity with 441 commits recorded followed by Kusama (KSM) and Cardano (ADA).
Polkadot’s Impressive Performance
Despite a bear market and the FTX scandal, the blockchain platform Polkadot had an impressive quarter in Q4 2022, according to a report by Messari. The report highlighted the record-breaking performance of the platform during this time period. In the wake of the FTX scandal, the market experienced a major downturn, leading to a decrease in the market capitalization of Polkadot by 31% from the previous quarter and 83% from the previous year. Despite this decline in market value, the financial stability of the network remained intact, and there was a predictable increase in the supply of DOT tokens.
Despite a challenging market scenario, on-chain activity of Polkadot demonstrated remarkable growth Quarter on Quarter (QoQ). According to a report, daily active accounts increased by 64%. The number of new accounts rose by 49% because individuals searched for more decentralized networks.
The developer community of Polkadot has also experienced significant growth, earning it distinction as being second largest with 764 full-time developers. In last quarter seven new teams acquired parachain slots amongst them were Bitgreen, Crust Network, Ajuna Network etc., Kilt achieved noteworthy accomplishment as first parachain to migrate from Kusama to Polkadot smoothly.
Santiment analyzed at end January 2023 which Listing top ten alternative coins based on their development activity which ranked Polka Dot (DOT) first with 441 commits recorded followed by Kusama (KSM) and Cardano (ADA). It explained that analysis looked at number commits each project made on GitHub within 30 days set for study commit refers interaction project’s network GitHub.
Treasury DOT Spending
Treasury DOT spending reached all time high during Q4 2022 treasury spent $34 million on various initiatives like ecosystem grants & marketing efforts including launch pad & hackathons projects received grants include Substrate Hub Parachains Onboarding Kit Plasm Network Portia & more .