Is Polkadot dead? On-chain metrics have the answer

After its creation in 2016, Polkadot drew a lot of attention and quickly became one of the leading blockchains. Its founder, Gavin Wood, who also co-founded Ethereum, aimed to build a blockchain focused on interoperability and scalability. 

Polkadot launched on the mainnet in 2020 and has undergone several network updates and improvements since then. Data shows that the network’s growth slowed after its 2021 peak. DOT, Polkadot’s native coin, now ranks among the top 30 cryptocurrencies by market cap, though it previously held higher positions before some rivals overtook it. 

Is Polkadot dying? What blockchain data and recent updates reveal. 

On-chain activity is dropping for Polkadot 

When looking at blockchain performance, there are several metrics to consider, including the number of daily active users (DAU), transaction count, and total value locked on the network. For Polkadot, multiple indicators point to decreased network participation, raising the question: “Is Polkadot dead?”
According to Token Terminal, Polkadot currently ranks 88th by daily active users, with about 3,300 active addresses. By comparison, in December 2022, the network had nearly 27,000 DAUs. Polkadot is behind platforms such as BNB Chain, NEAR Protocol, Solana, Base, Ethereum, TON, Berachain, and several other established and newer networks.

Transaction count, the number of blockchain transactions on Polkadot, has also dropped, though Polkadot remains among the top 20 blockchains by this metric. Polkadot transactions reached their peak of over 17 million in late December 2023. The surge was largely driven by Polkadot Inscriptions, which let users attach small pieces of data or messages to the blockchain, similar to NFTs. As of September 2025, Polkadot records over 618,000 transactions per week, with a weekly total of nearly 152 million transactions. 

Total Value Locked data for Polkadot applications isn’t available on platforms like DefiLlama. The reason is Polkadot’s complex design and its individual chains, called parachains. Each parachain operates independently, making it hard to aggregate total value across the network. This lack of easily accessible metrics can hurt the ecosystem by making it harder for investors and developers to assess network growth, compare projects, or attract new users. 

From an economic value perspective, Polkadot shows moderate revenue growth. According to Token Terminal, the network generated $721,000 in fees over the past year, ranking 21st among blockchains. Tron, Ethereum, and Solana were among the top performers by this metric.

Not dead yet: Polkadot’s plan to remain competitive 

Polkadot plans changes to its network and tokenomics to stay competitive and support ecosystem growth. In September 2025, the community voted to cap the total DOT supply at 2.1 billion, replacing the previous system that added 120 million new tokens each year. The aim is to make DOT scarcer, more predictable, and better aligned with the network’s long-term growth.

At the same time, Polkadot planned the 2.0 upgrade in October 2025 to make the network faster and easier to use for developers. Instead of expensive, long-term parachain slot auctions, projects will be able to pay for network resources only when they need them. The upgrade also lets the network handle more activity and adjust to busy periods. These changes aim to lower barriers, support more projects, and improve performance. 

Summary: Is Polkadot dead or ready to take off? 

On-chain data shows that so far in 2025, Polkadot has been underperforming Ethereum and several other rival blockchains. Still, it plays an important role in blockchain due to its strong foundation and potential for growth. Whether the upcoming changes will increase activity or if Polkadot will keep falling behind other networks remains uncertain. However, the chances of Polkadot fading away are low, at least for the near future.