Polkadot's Network Usage Remained Consistent in Q2 Despite Market Downturn: Report

Polkadot’s Network Usage Remained Consistent in Q2 Despite Market Downturn: ReportThe report noted that Polkadot’s network usage and developer activity remained strong during the second quarter of the year despite market turbulence.

Polkadot closed the last quarter with a $7.9 billion valuation, down from the $15 billion recorded in Q1. This also represents an 86% drop from its all-time high market cap of $49 billion in November 2021. The consistency in user count is further revealed in the value of DOT token transfers made during both quarters. In Q2, Polkadot had an average of 293 million DOT transfers per month, marginally higher than the 288 million DOT transfers in the previous quarter.

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