TechFlow news: Messari has released its Polkadot Q4 2023 State Report, showing a 93% quarter-over-quarter increase in monthly active addresses on parachains, rising from 104,000 to 200,000.
XCM transfer volume surged 150% quarter-over-quarter, reaching a record high of 133,000 transactions. By year-end, the total number of active XCM channels reached 203, nearly tripling compared to 2022 levels.
As of December, Polkadot had 800 full-time developers and a total of 2,100 developers overall. According to Electric Capital data, Polkadot ranks among the top three cryptocurrency ecosystems by developer activity.
DOT's circulating market cap increased 111% quarter-over-quarter to $8.38 billion. The strong performance in Q4 contributed to a 94% year-over-year growth, placing DOT among the top 15 largest cryptocurrencies by market capitalization.
