Record-Breaking Q1 For Polkadot: Daily Active Addresses Hit 514,000 As DOT Price Surges 7%
Summary
Polkadot's Q1 2024 saw a 16% rise in market cap to $12.7 billion, but it remains 80% below its all-time high. Revenue surged in Q4 2023 but declined significantly in Q1 2024. XCM activity grew, with daily transfers up 89% and active addresses reaching 514,000. Parachains experienced varying growth, with Moonbeam leading at 217,000 monthly active addresses. DOT's price has rebounded to $7.25, with potential resistance at $7.4 and support at $6.4. Trading volume decreased by 4.7% to $320 million over the past 24 hours.
