The cryptocurrency research and data company Messari recently gathered and published a report on the state of the Polkadot ecosystem during the previous year’s fourth quarter. The report focuses on the state of the ecosystem during that period.
The fourth quarter of 2022 saw a 64 percent increase in the number of daily active users and a 49 percent increase in the number of new accounts per Messari. As users shift their attention away from FTX, the introduction of USDT and the opening of nomination pools are all credited by experts as causes of the uptick in activity.
FTX Scandal Swept the Globe in Q4 Last Year
The FTX scandal was supposedly the most important thing in the fourth quarter of 2022. It sent shockwaves worldwide and got the attention of countries in every part of the world.
According to the report, Polkadot’s market capitalization fell 31% year over year during the most recent quarter (QoQ). Notably, Polkadot’s market value has dropped by 83% since last year due to the effects of FTX and the general bear market.
Also read:The network’s financial situation reportedly hasn’t changed despite the price drop. During Q4, there was no change in quarterly earnings, and the number of DOT tokens on the market went up as expected.
DOT Delisted From the SEC List of Securities
After talking with the Securities and Exchange Commission (SEC) for three years, the Web3 Foundation said in November that the DOT token, which was once considered security but is no longer, had been taken off the SEC’s list of securities.
According to the report, the Polkadot Relay Chain grew significantly in the fourth quarter of 2022 compared to the third quarter. The fourth quarter was most likely the most crucial of the year.
Coinmarketcap says that the price of Polkadot’s native token, DOT, is $6.75 and that $243,254,169 has been traded in the last 24 hours.
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