Polkadot Shows Significant Growth in 2024

How Much Growth in Polkadot?

Key insights

• Polkadot accounts increases at an average of 8% daily in 2024
• The number of DOT holders has risen by over 10% in 2024
• Staking hits closer to Ideal Staking Rate
• Year 2024 witnesses it highest bonding of over 9 million DOT in a day

Q4 of 2023 kicked off a surge in new Polkadot accounts. This has continued into 2024 when the number of new accounts is averaging 2790 per day with a daily peak of 6700+ in March. It has resulted in the Increase of Polkadot accounts by an average of 8% daily in 2024. Indicating a growing interest in the ecosystem.

Meanwhile, in the past 4+ months, the number of active accounts has averaged 11k+ active accounts per day, the same as in Q4 of 2023, ~50% more than the first three quarters of 2023.

A possible indication of technical/UI improvements leading to more activity from accounts.

Furthermore, the number of DOT holders has risen by over 10% in 2024 alone. It rose to over 1.2 million holders at first in Dec. 2023 and has now hit 1.3 million+.

Showing increasing confidence in the ecosystem.

DOT bonded indicates increasing confidence as well.

2024 witnessed over 9 million DOT bonded on April 29th, the highest in 8 months. No surprises as the staked DOTs rose in the same period.

Staking keeps increasing and is heading towards the current Ideal Staking Rate of 60%. Currently, ~56% of the total DOT supply is staked and ~41% is in circulation.

At this rate, staking could edge much closer to 60% in no time.

With crucial upgrades such as coretime, Asynchronous Backing etc. in the process of being deployed with potential to attract more development in the network, are we poised to see an unexpected surge in the network’s growth? How much will activities surge after the deployment of those upgrades. Please, share thoughts with us.