The first quarter 2025 report from "Messari" indicates a significant slowdown in transaction activity within the "#بولكادوت " ecosystem, which declined by 36.9% quarter-over-quarter to 137.1 million transactions. Critics argue that Polkadot's performance does not meet the expectations set by its funding and the hype surrounding it.

Mixed developer activity

According to the "State of Polkadot" report $DOT for the first quarter of 2025 released by "Messari", transaction activity within the Polkadot ecosystem slowed during this quarter, declining by 36.9% quarter-over-quarter to 137.1 million transactions. This decline is attributed to improved transaction processing efficiency by "Neurobeep", which was introduced in the first quarter. Despite the quarterly decline in transaction numbers, three Polkadot-based networks - "Moonbeam", "Mithril", and "Pik" - maintained positive momentum.

For example, the "Messari" report indicates that the "Moonbeam" platform processed 16.7 million transactions during the quarter, an increase of 6.5% compared to the previous quarter. This accounted for 12.2% of the total transactions in the ecosystem. In contrast, "Mithril" transactions rose by 12% compared to the previous quarter to reach 12.3 million transactions during the quarter, representing 9% of the total system activity. Meanwhile, "Pik" surged by 84% compared to the previous quarter to reach 10.1 million transactions in the first quarter of 2025, accounting for 7.4% of the total system transactions.

However, the data shows a decline in total active addresses monthly across the Polkadot ecosystem from 610,000 to 529,900, a decrease of 13.1% quarter-over-quarter. On the other hand, developer activity was mixed, with the average number of active core developers per week increasing to 122, up by 1.5%. In contrast, the average number of active ecosystem developers per week decreased by 5.7% to 421, while the average weekly commitments in the ecosystem dropped by 14.4% to just over 3,000.

During the quarter, several steps were taken to improve the developer experience and attract new contributors, including the launch of the PAPI console, a new interface that enables developers to interact with chains more easily. Additionally, a user experience audit grant program was launched during the quarter, designed to help Polkadot projects identify and resolve usability issues through professional user experience audits.

However, these efforts failed to curb a concerning trend, which is also evident from the performance of the native Polkadot token during the same period. As the data shows, $DOT

The quarter had a market capitalization slightly below $8 billion, but it dropped to $6.1 billion by the end of March. At the time of writing this report (June 28, at 11:47 AM EST), the market capitalization of DOT was $5.14 billion.

A critic denounces "Polkadot hype without attraction"

Although Polkadot's performance in the first quarter (and for a large part of the year so far) reflects the broader market performance, critics believe it falls short of the hype and funding it has received. Nunzi, a social media user and cryptocurrency trader, described the network as the biggest bet in cryptocurrency, which has faded into a ghost chain.

Nunzi criticized what he called "Polkadot hype without attraction", pointing to the decline of DOT from its peak of $55 to its current price of around $3.30. A social media user also highlighted that Polkadot's more ambitious governance models failed to prevent whales from hijacking it. The user claims that of over $129 million spent by the treasury, "most of it has not yielded a clear return on investment".

While acknowledging the improvement of the Polkadot technology, Nunzi argues that this is futile without users or a narrative.

"Polkadot proves that technology does not equal attraction. It has built an advanced Web3 system framework - but with few users, slow adoption, a declining number of developers, and a stagnant market, it resembles a ghost town. If a promising real-world application emerges, it might come back from the dead. Until then? It remains $DOT a top-notch technical engine, unintegrated into any of its aspects," warned a social media user.

#NODEBinanceTGE #USCorePCEMay #BTC110KToday? #BinanceAlphaAlert