The post Polkadot: How December turned out to be the best of 2023 appeared on BitcoinEthereumNews.com.

Journalist Posted: December 27, 2023 User activity on Polkadot is at its highest since the year began. Monthly network fees and revenue have also increased significantly this month.  Polkadot [DOT] has witnessed a surge in user activity, with the daily count of new addresses reaching a year-to-date high, according to The Block data dashboard.  On Christmas Day, the daily count of new addresses created on the Polkadot network totaled 7,120, marking its highest single-day count since the year began.  Source: The Block The chain’s new address count observed on a seven-day moving average showed that Polkadot has seen a surge in new demand since the month began. Data retrieved from The Block showed that the number of new addresses created on Polkadot daily has grown by 258% since 1st December. As of 26th December, 6,890 new addresses were created on the chain. Due to this, the daily number of transactions on Polkadot has risen to its highest level since January.  For most of the year, the daily transactions count on Polkadot had been below 10,000. However, when the general market rally began in October, activity increased on Pllkadot, pushing up its number of daily transactions. Since the beginning of December, this has increased by over 21,000%. For context, as of 1st December, Polkadot’s daily transactions totaled 11,190. It closed on 26th December with a transaction count of 2.45 million. Source: The Block Network fees and revenue at their highest levels As a result of the uptick in user activity this month, network fees and the revenue derived from the same have also skyrocketed, data from Token Terminal revealed.  So far this month, total transaction fees on Polkadot have totaled $2.7 million. Protocol revenue generated from the same sits at $2.2 million. This marks the first time this year that Polkadot’s…

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Filed under: News - @ December 27, 2023 11:16 pm