Q1 2025 Messari Report Summary: Polkadot Ecosystem Activity Declines Significantly

Transaction Volume Decrease: The total transaction volume of the Polkadot ecosystem decreased by 36.9% month-on-month, totaling only 137.1 million transactions. Part of the reason is due to Neuroweb improving transaction processing efficiency.

Some Networks Maintain Growth:

Moonbeam: 167 million transactions (+6.5%), accounting for 12.2% of the total.

Mythos: 12.3 million transactions (+12%), accounting for 9%.

Peaq: 10.1 million transactions (+84%), accounting for 7.4%.

Monthly Active Address Count Decrease: Dropped from 610,000 to 529,900, a month-on-month decrease of 13.1%.

Developer Activity Mixed:

The number of core developers increased by 1.5% weekly to 122 people;

Ecosystem developers decreased by 5.7%;

Average weekly submissions decreased by 14.4%.

Development Support Initiatives: Launched PAPI Console and UX audit subsidy program to optimize the development experience.

DOT Market Cap Plummets:

Dropped from nearly $8 billion to $6.1 billion (by the end of March), and further fell to $5.14 billion by June 28.

Community Criticism:

Crypto trader Nonzee called Polkadot a “hyped chain lacking users.”

DOT fell from an all-time high of $55 to around $3.30, with financial expenditures exceeding $129 million but no clear return on investment.

He pointed out: “Without users, even the strongest technology is just an empty shell.”