- So far, the year has seen a decline in Polkadot’s network activity.
- DOT’s price has dropped by double digits in the past 30 days.
According to The Block Data dashboard, network activity on the Polkadot [DOT] blockchain has taken a significant dip, reaching its lowest level so far this year.
The steady decline in user activity on the network signaled a drop in demand for the chain since the year began.
Due to this and the general market correction witnessed post-ETF approval, DOT’s value dropped by 21% over the last month, data from CoinMarketCap showed.
A drop in network activity
According to data from The Block, Polkadot’s daily transaction count, measured using a seven-day moving average, has trended downward since the 1st of January.
On the 27th of January, the network closed the day with a transaction count of 12,000, marking a whopping 60% decline from the 30,000 transactions the chain recorded on New Year’s…
