- Polkadot has seen a decline in user activity this month.
- Demand for its DOT coin also remains low.
Monthly transaction volume on Polkadot’s [DOT] Relay Chain and parachains is poised to close April at its lowest level year-to-date (YTD), data from The Block has shown.
Source: CryptoQuant
The Relay Chain is the central chain of the Polkadot network that handles the coordination and security of the blockchain. Its parachains refer to the individual blockchains that run parallel and are connected to the Relay Chain.
So far this month, the network’s transaction volume has totaled $400 million, representing a 56% decline from the $916 million recorded in March. Polkadot’s monthly transaction volume has dropped by 90% from the $4 billion it registered at the end of January.
Polkadot witnesses user drought
The decline in the economic throughput across Polkadot Relay Chain and its parachains is due to the low user activity on…
